The government plans additional borrowing in 2012

The Bulgarian government plans additional external borrowing in the total amount of EUR 1.2 billion in 2012. The largest amount is expected to come from new bond sales to ensure financing for the repayment of EUR 800 mio of eurobonds due in 2013. Around one tenth of the total amount will be secured via co-operation with the European Investment Bank (EIB) on the intention to back structural reforms. The country will also borrow funds in the amount of EUR 80 mio for the co-operation strategy with the World Bank for the period 2011 – 2013 with the intention of implementing reforms in the railway sector. In addition to external borrowing in 2012 the government tends to borrow BGN 1.22 billion from domestic investors for the repayment of BGN 735 mio of outstanding debt.

Source: Sofiaecho