site.btaBulgaria’s Gross External Debt Up by 14.2% Y/Y to Over EUR 57 Bln at End-December 2025

Bulgaria’s gross external debt amounted to EUR 57,679.4 million (50.3% of GDP) at the end of December 2025, growing by EUR 7,192.2 million (14.2%) from the end of December 2024 (EUR 50,487.2 million, 48.2% of GDP), the Bulgarian National Bank announced on Friday.

At the end of December 2025, short-term liabilities equalled EUR 12,024.2 million (20.8% of the total debt, 10.5% of GDP), increasing by EUR 1,841.9 million (18.1%) from the end of December 2024 (EUR 10,182.3 million, 20.2% of the total debt, 9.7% of GDP). Long-term liabilities totalled EUR 45,655.1 million (79.2% of the total debt, 39.8% of GDP) at the end of December 2025, growing by EUR 5,350.3 million (13.3%) from the end of December 2024 (EUR 40,304.8 million, 79.8% of the total debt, 38.5% of GDP).

Gross external liabilities with a remaining maturity of over one year totalled EUR 36,041.3 million (62.5%) at the end of December 2025. 80.2% of gross external liabilities were denominated in euro, compared with 77.7% a year earlier.

General government’s gross external debt totalled EUR 17,525.9 million (15.3% of GDP) at the end of December 2025, growing by EUR 4,595.5 million (35.5%) from the end of December 2024 (EUR 12,930.3 million, 12.3% of GDP). It held the largest share of external debt, accounting for 30.4% at the end of December 2025, compared with 25.6% at the end of the year before.

The external liabilities of the central bank stood at EUR 1,916.6 million (1.7% of GDP), dropping by EUR 48.6 million (2.5%) from end-December 2024 (EUR 1,965.3 million, 1.9% of GDP).

The external liabilities of other MFIs (banks and money market funds) totalled EUR 10,759.8 million (9.4% of GDP), growing by EUR 2,364.1 million (28.2%) from the end of December 2024 (EUR 8,395.8 million, 8% of GDP).

Other sectors’ external debt equalled EUR 13,940.8 million (12.1% of GDP), increasing by EUR 706.5 million (5.3%) from the end of December 2024 (EUR 13,234.3 million, 12.6% of GDP).

The stock of intercompany lending amounted to EUR 13,536.3 million (11.8% of GDP) at the end of December 2025, down by EUR 425.2 million (3%) from the end of December 2024 (EUR 13,961.5 million, 13.3% of GDP).