site.btaBulgaria's Gross External Debt Up by Nearly 9% at End-2024, Y/Y - Central Bank

Bulgaria’s gross external debt amounted to EUR 49,019.2 million at end-December 2024, according to the Bulgarian National Bank’s preliminary data released on Friday. This represents a year-on-year increase of 8.7%, or EUR 3,939.6 million. By comparison, the gross external debt stood at EUR 45,079.5 million at the end of December 2023.

The gross external debt at the end of 2024 accounted for 47.9% of the country's projected gross domestic product (GDP). A year earlier, the gross external debt accounted for 47.6 % of GDP.

At the end of December 2024, short-term liabilities stood at EUR 9,444.5 million (19.3 % of the total debt, 9.2% of GDP), up by EUR 1,013.1 million, or 12%, from December 2023 (EUR 8,431.3 million, 18.7% of the total debt, and 8.9% of GDP).

Long-term liabilities totalled EUR 39,574.7 million (80.7% of the total debt, 38.7% of GDP) at end-December 2024, up by EUR 2,926.5 million (8%) from end-December 2023 (EUR 36,648.2 million, 81.3% of the total debt, 38.7% of GDP).

Gross external liabilities with remaining maturity over one year totalled EUR 30,027 million (61.3%) at end-December 2024, with 77.9% of gross external liabilities denominated in euros, compared with 80.4% at end-December 2023.

General government's gross external debt totalled EUR 12,933.9 million (12.6% of GDP) at end-December 2024, growing by EUR 1,999.4 million (18.3%) from end-December 2023 (EUR 10,934.5 million, 11.5% of GDP).

The external liabilities of the central bank stood at EUR 1,965.3 million (1.9% of GDP), decreasing by EUR 103.6 million (5%) from end-December 2023 (EUR 2,068.9 million, 2.2% of GDP).

The external liabilities of other banks and money market funds totalled EUR 8,393.3 million (8.2% of GDP), up by EUR 1,591.6 million (23.4%) from end-December 2023 (EUR 6,801.7 million, 7.2% of GDP).

Other sectors’ external debt equalled EUR 12,559.8 million (12.3% of GDP), increasing by EUR 328.2 million (2.7%) from end-December 2023 (EUR 12,231.6 million, 12.9% of GDP).

The stock of intercompany lending amounted to EUR 13,166.9 million (12.9% of GDP) at end-December 2024, increasing by EUR 124.1 million (1%) from end-December 2023 (EUR 13,042.8 million, 13.8% of GDP). It held the largest share in external debt, equating to 26.9% at end-December 2024, compared with 28.9% at end-December 2023.