Bulgaria reduced its national debt to 24%Staff Writer | July 10, 2017
The ministry of finance arranged a payment of more than EUR 990 million to holders of five year Bulgarian Euro bonds, issued at an annual coupon of 4.25% on July 9, 2017.
Europe The ministry of finance:
By making the payment, Bulgaria's sovereign debt was reduced by EUR 950 million, from 12,884 to 11,934 billion euros.
This represents a decrease in the ratio of debt to gross domestic product by almost two percentage points, respectively, from 25.9% to 24%.
Thus, the state budget will save debt servicing costs amounting to EUR 40.375 million per year, the Ministry of Finance said. ■