01.11.2022

The central government debt[1] as of end-September 2022 amounts to BGN 35,842.3 million, which is an increase by BGN 4,675.9 million as compared to end-August 2022, which is mainly due to the new debt assumed this month on the domestic and foreign GS markets. Domestic debt amounts to BGN 10,649.7 million and external debt – to BGN 25,192.6 million.  

At the end of the reporting period the central government debt-to-gross domestic product (GDP) ratio[2] is 22.2%, with the share of domestic debt being 6.6% and of external debt – 15.6%. As regards the subsector’s debt structure, the share of domestic and external debt for September 2022 is 29.7% and 70.3%, respectively.  

As regards the debt structure by instruments, as of 30 September 2022 the main share continues to belong to bonds issued on international capital markets – 54.7%, followed by government securities issued on the domestic market – 28.7% and by government loans – 16.7%. As regards the interest structure of debt, the trend for predominance of fixed interest rate debt (98.2%) is preserved; as regards the currency structure of debt, EUR- and BGN-denominated debt instruments continue to have a large relative share (99.8%). As regards the maturity structure of debt by original maturity, the debt instruments with maturity of over 10 years form the largest share – 59.7%, followed by those with maturity from 5 to 10 years – 28.9%, and those with maturity from 1 year to 5 years – 11.3%. As regards the structure by residual maturity, the payments up to 1 year account for 7.3%, those from 1 year to 5 years account for 34.8%, the payments from 5 to 10 years account for 32.7% and those over 10 years account for 25.3%.

As of 30 September 2022, central government guaranteed debt amounts to BGN 592.4 million. Domestic guarantees amount to BGN 64.2 million and external guarantees – to BGN 528.2 million. The central government guaranteed debt/GDP ratio is 0.4%.

According to the official register of government and government guaranteed debt kept by the Ministry of Finance on the grounds of Article 38(1) of the Government Debt Law, government debt at end-September 2022 reaches BGN 34,850.4 million, or 21.5% of GDP. Domestic debt amounts to BGN 10,482.1 million and external debt – to BGN 24,368.3 million.  

Government guaranteed debt amounts to BGN 1,707.6 million in September 2022, domestic guarantees amount to BGN 64.2 million, with the government guaranteed debt-to-GDP ratio being 1.1%. 

The Bulletin is published in the Statistics Category/Central Government Debt and Guarantees Monthly Bulletin.

Note: In accordance with Article 36(3) of the Public Finance Law /in force as from 01.01.2014, SG, issue No 15 of 15.02.2013, amended SG, No 95 of 8.12.2015, amended and supplemented, SG, No 43 of 7.06.2016, SG, issue No 91 of 14.11.2017/, starting from June 2016, the Ministry of Finance publishes a Central Government Debt and Guarantees monthly bulletin. Information about the amount, structure and dynamics of government and government guaranteed debt/assumed under the procedure of the Government Debt Law/, as published in the Government Debt bulletin until May 2016, is included Annex 4 on page 11 of the new edition. 

[1] Central government debt is the debt of the central government pursuant to Council Regulation (EC) No 479/2009 of 25.05.2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community. The list of the units included in the central government sub-sector in addition to government bodies and institutions as per the European System of National and Regional Accounts in the Community (ESA 2010) and the Eurostat Manual on Government Debt and Deficit (EC) can be found ^HERE.

[2] Forecast data of the Ministry of Finance.