Public debt at the end of the first quarter
Bulgaria is traditionally among the countries with the lowest government debt to gross domestic product (GDP) in the European Union (EU).According to Eurostat data for the first quarter of 2024, we are the country with the lowest debt – 22.6%. We are followed by Estonia (23.6) and Luxembourg (27.2%).
A comparative analysis with the data from the end of last year shows that Bulgaria’s debt has shrunk by 0.5%.
Greece is again the leading debtor (159.8%), followed by Italy (137.7%) and France (110.8%).
At the end of the first quarter of 2024, the ratio of euro area governments’ gross public debt to GDP stands at 88.7%. At the end of the fourth quarter of 2023, the ratio was reported down by a few points at 88.2%. In the EU, the ratio is also rising, from 81.5% to 82%.
Relative to the first quarter of last year, there has been a contraction in the debt-to-GDP ratio both in the euro area (from 90.1% to 88.7%) and in the EU (from 83% to 82%).
Budget deficit at the end of the first quarter.
On account of the positive statistics for our country, Eurostat reported that
Bulgaria is among the countries with the highest budget deficit in the EU.
The ratio of the seasonally adjusted government budget deficit to GDP for our country in the first quarter was -5.6%. On this criterion, we are currently on a par with France, and the only countries that are ahead of us with higher deficits are Hungary (-6%) and Romania (-7%).
In the first quarter of 2024, the seasonally adjusted general government deficit-to-GDP ratio stands at 3% in the EU and 3.2% in the euro area, Eurostat data also show.
In the first quarter, the EU and euro area deficit-to-GDP ratios declined by 3.9 per cent and 4 per cent, respectively, compared to the fourth quarter of 2023.
And if you need any questions or advice, you can contact us at TPA Bulgaria:
TPA Bulgaria:
+359 2 981 66 45/46/47
office@tpa-group.bg
ul. G.S. 128, floor 2
1000 Sofia