Bulgaria's Govt Debt Short of EUR 8 B End-2004

Bulgaria's government and government-guaranteed debt stood at EUR 7.95 B at the end of December 2004, with foreign debt accounting for 82.8% of it, the finance ministry announced. General government debt has fallen with a nominal value of EUR 68.6 M month-upon-month, as the decline was further accelerated by the weaker US dollar and buy-backs of Brady bonds in 2004. The debt ratio stood at 40.9% of GDP at the end of 2004, from 80% in 2000. The debt slid by EUR 555,5 M in comparison with the same period the previous year.