Bulgaria's gross external debt rises 25.3% to €68.8 billion at the end of August

Bulgaria's gross external debt, covering both public and private liabilities, reached €68.8 billion at the end of August 2026, up 25.3% from €54.9 billion a year earlier, according to preliminary data released by the Bulgarian National Bank (BNB) on Friday 30 October and reported by BTA.

The debt equalled 53.6% of projected gross domestic product, compared with 47.1% a year earlier.

Short-term liabilities stood at €17.8 billion, or 25.8% of the total and 13.8% of GDP, an increase of 92.2% year on year. Long-term liabilities reached €51 billion, up 11.8%, and accounted for 74.2% of the total. Liabilities with a remaining maturity of more than one year amounted to €40.9 billion, or 59.5% of the total. Euro-denominated liabilities made up 72.3% of the debt, down from 80% a year earlier.

A large part of the increase comes from the central bank itself. The BNB's external liabilities rose to €10.4 billion from €1.9 billion a year earlier, mainly because of liabilities linked to the Eurosystem's allocation of euro banknotes after Bulgaria adopted the euro on 1 January 2026.

General government external debt was €19.3 billion, or 15% of GDP, up 9.2% year on year. Its share of total external debt fell to 28% from 32.2%. External liabilities of other monetary financial institutions, mainly banks, rose by 32% to €10 billion, while those of other sectors increased by 4.3% to €14.9 billion. Intercompany lending, which covers loans between related companies in different countries, totalled €14.2 billion, up 5.3%.

For readers comparing the figures with earlier years, the jump in short-term and central bank liabilities is largely a technical effect of joining the euro area rather than new borrowing by the state or companies. The government's share of external debt is lower than a year ago, while the private sector's borrowing from abroad has grown more modestly.