11.02.2015

In the context of the ill-judged speculations of politicians about the government debt management whereby the financial stability of the state is endangered and the state's ability to finance its main functions within the Law on the State Budget is put in doubt, we present information about the refinancing of the government debt and financing of the budget deficit in the period 2015-2017. The estimated amount of the repayments of government debt in circulation as of 31.12. 2014 for the period 2015-2017 stands at around EUR 6 billion. The estimated amount of the budget deficits for the period 2015-2017 is around BGN 6.5 billion (EUR 3.32 billion) or the amount necessary for financing repayments of existing government debt as of 31.12.2014 and financing the budget deficit for the said 3-year period is a little over EUR 9 billion.

Information about the refinancing of the government debt and financing of the budget deficit
for the period 2015-2017 (BGN million)

Note:
*The estimated assumptions are based on:
- refinancing of the debt assumed as of 31.12. 2014 and provided for under the MBF for the period 2015-2017;
- financing of the planned budget deficit under the MBF for the period 2015-2017.
**The government debt as of the end of 2014 as per reported data amounts to BGN 22.1 billion or 27.1% of forecast GDP (14.11.2014).