Financial and business news from Bulgaria

Bulgaria is among the countries in the EU with the lowest debt

Lowest debt as a percentage of GDP in 2020 was recorded in Estonia - 18.2 per cent, Luxembourg - 24.9 per cent and Bulgaria - 25 per cent
The budget deficit in the EU as a whole has grown to 6.9 per cent of gross domestic product (GDP) and in the euro area - to 7.2 per cent in 2020, according to the European statistics office Eurostat.

At the same time, government debt rose to 90.7 per cent and 98 per cent respectively against the backdrop of the coronavirus pandemic and measures taken against the subsequent crisis, according to preliminary estimates.

A year earlier, the budget deficit in the EU was 0.5 per cent and 0.6 per cent in the euro area, while government debt was 77.5% and 83.9 per cent respectively.

In 2020, all Member States report a deficit under their national budget. The highest was the imbalance in Spain (deficit of 11 per cent), Malta (10.1 per cent), Greece (9.7 per cent), Italy (9.5 per cent), Belgium (9.4 per cent), France and Romania (9.2 per cent), Austria (8.9 per cent), Slovenia (8.4 per cent), Hungary (8.1 per cent), Croatia and Lithuania (7.4 per cent) hundred) and Poland (7 percent). In all countries, the deficit is above the 3% of GDP allowed by European rules except in Denmark (deficit of 1.1 per cent).

Bulgaria's budget deficit is 3.4% of GDP.

Towards the end of crisis 2020, Estonia (18.2 per cent), Luxembourg (24.9 per cent), Bulgaria (25 per cent), Czech Republic (38.1%) and Sweden (39.9 per cent). In fourteen member states, debt is over 60 per cent of GDP, with the highest in Greece (205.6 per cent), Italy (155.8 per cent), Portugal (133.6 per cent), Spain (120 per cent), Cyprus (118.2 per cent), France (115.7 per cent) and Belgium (114.1 per cent).