Sofia, December 3 (BTA) - In line with the principles of transparent governance, the Finance Ministry said on Friday that between January and November 2021 it raised 3.8 billion leva in 11 government security auctions, which accounts for 84.4 per cent of the 4.5 billion leva limit on new debt set out in the 2021 State Budget Act.

No bonds were issued on the international capital markets during the year.

No new debt is expected to be raised in December, according to the press release.


The 2022 draft budget envisages auctioning off of up to 10 billion leva in government securities to refinance old debt, fund the planned budget deficit for 2022 which will be used to implement social policies, and assist the recovery of the economy. The remaining money will go to secure direct payments under the Common Agricultural Programme.


In compliance with the provisions of the Public Finance Act, the Finance Ministry will observe the deadlines envisaged for debates of the 2022 draft budget and will submit it to the 47th National Assembly. The law provides for time and mechanisms for debates and tabling of revisions, which will allow the new regular government to implement its policies, the press release says.