The Bulgarian parliament has allowed the government to issue up to 2.35 billion Bulgarian lev (€1.2 billion) in sovereign debt next year to plug a projected budget deficit of the same size.
This will be the first international borrowing after a decade of savage public debt cuts and it is expected to slightly worsen Bulgaria's debt/GDP ratio. The ratio is currently 14.9 percent, the second lowest in the EU after Estonia, but may rise to above 20 percent next year, according to the latest...
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