site.btaBulgaria’s Gross External Debt Up 10.9% Y/Y to EUR 54.258 Bln in November 2025 - Central Bank

Bulgaria’s gross external debt (public and private) increased by 10.9% year-on-year to EUR 54.258 billion at the end of November 2025, according to preliminary data from the Bulgarian National Bank. By comparison, at the end of November 2024 the gross external debt stood at EUR 48.915 billion, or EUR 5.342 billion less than the current level.

Gross external debt equals 47.3% of the country’s projected gross domestic product, up from 46.7% of GDP a year earlier.

At the end of November 2025, short-term liabilities amounted to EUR 8.598 billion (15.8% of gross debt, 7.5% of GDP) and decreased by EUR 195.6 million (2.2%) compared with November 2024 (EUR 8.794 billion, 18% of debt, 8.4% of GDP). Long-term liabilities totaled EUR 45.660 billion (84.2% of gross debt, 39.8% of GDP) at the end of November 2025, increasing by EUR 5.538 billion (13.8%) compared with the end of November 2024 (EUR 40.121 billion, 82% of debt, 38.3% of GDP).

As of the end of November 2025, EUR 36.274 billion (66.9%) of gross external liabilities had a residual maturity of more than one year. 80% of gross external liabilities were denominated in euro, compared with 77% a year earlier.

The gross external debt of the General Government sector at the end of November 2025 amounted to EUR 17.610 billion (15.3% of GDP). Compared with the end of November 2024 (EUR 12.988 billion, 12.4% of GDP), it increased by EUR 4.621 billion (35.6%). It had the largest share in the structure of external debt—32.5% at the end of November 2025, compared with 26.6% in November 2024.

External liabilities of the central bank totaled EUR 2.007 billion (1.7% of GDP). They decreased by EUR 73.1 million (3.5%) compared with the end of November 2024 (EUR 2.080 billion, 2% of GDP).

External liabilities of the Other Monetary Financial Institutions sector amounted to EUR 7.992 billion (7% of GDP). They increased by EUR 1.302 billion (19.5%) compared with the end of November 2024 (EUR 6.690 billion, 6.4% of GDP).

External liabilities of Other Sectors totaled EUR 13.215 billion (11.5% of GDP). They rose by EUR 37.6 million (0.3%) compared with the same month of the previous year (EUR 13.178 billion, 12.6% of GDP).

Intercompany lending amounted to EUR 13.432 billion (11.7% of GDP) at the end of November 2025, which is EUR 546.1 million (3.9%) less than at the end of November 2024 (EUR 13.978 billion, 13.3% of GDP).