Until the end of the year, the Ministry of Finance does not plan to take on government debt
In accordance with the principles of transparent governance, the Ministry of Finance specifies that in the period January-November 2021, 11 auctions were held for the sale of government securities, which provided gross domestic debt financing in the total amount of 3, BGN 8 billion, which represents the implementation of 84.4% of the existing in the Law on the State Budget of the Republic of Bulgaria for 2021 limit of BGN 4.5 billion. No bonds were issued on the international capital markets during the year. No new government debt is expected in December.
The draft budget for 2022 also plans to issue government securities. The set limit is about BGN 10 billion, and they will be spent on refinancing old debt, financing the planned budget deficit in 2022, which is related to the implementation of social policies, recovery and business development. The rest will be used to procure a resource to ensure direct payments under the Common Agricultural Policy (CAP) of the Republic of Bulgaria.
Pursuant to the requirements of the Public Finance Act, the Ministry of Finance will meet the deadlines set for the discussion of the draft budget for 2022 and will present it to the 47th National Assembly. The law provides for deadlines and mechanisms for discussing and amending amendments to enable the implementation of the policies of the new regular government.
