31.10.2024

The central government debt^[1] as of end-September 2024 amounts to BGN 47,665.9 million, which is an increase by BGN 5,675.9 million as compared to end-August 2024 as a result of the proceeds from newly issued government bonds on the international capital markets. Domestic debt amounts to BGN 11,853.0 million and external debt – to BGN 35,812.9 million.

The central government debt-to-GDP ratio^[2] is 23.9%, which is an increase by 2.9 pp as compared to the level of the previous month. The share of domestic debt to GDP is 5.9% and of external debt – 17.9%. As regards the subsector’s debt structure, the share of domestic and external debt for September 2024 is 24.9% and 75.1%, respectively.  

As regards the debt structure by instruments, as of 30 September 2024, the main share continues to belong to bonds issued on international capital markets – 63.8%, followed by government securities issued on the domestic market – 24.4%, and by loans – 11.8%. As regards the interest structure of debt, the trend for predominance of fixed interest rate debt (99.3%) is preserved; as regards the currency structure of debt, EUR-, US- and BGN-denominated debt instruments continue to have a large relative share (99.9%). As regards the maturity structure of debt by original maturity, the debt instruments with maturity of over 10 years have the largest share – 52.7%, followed by those with maturity from 5 to 10 years – 37.1%, from 1 year to 5 years – 10.0% and up to 1 year – 0.2%. As regards the structure by residual maturity, the share of debt up to 1 year accounts for 7.3%, that from 1 year to 5 years accounts for 27.5%, the debt from 5 to 10 years accounts for 33.3% and that over 10 years accounts for 31.9%.

As of 30 September 2024, central government guaranteed debt amounts to BGN 826.6 million. Domestic guarantees amount to BGN 201.1 million and external guarantees – to BGN 625.5 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, at end-September 2024 government debt reaches BGN 47,256.2 million, or 23.7% of GDP. Domestic debt amounts to BGN 11,935.4 million and external debt – to BGN 35,320.8 million.  

Government guaranteed debt amounts to BGN 1,461.1 million in September 2024, domestic guarantees amount to BGN 201.1 million, with the government guaranteed debt-to-GDP ratio being 0.7%. 

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,
promulgated in SG, issue No 15 of 15.02.2013, amended by SG, issue No 95 of 8.12.2015, amended and supplemented by SG, issue 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 13 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] ^{Gross domestic product – according to the 2024 Spring Macroeconomic Forecast of the Ministry of Finance}