The total state debt, without deposits, at the end of December last year amounted to 4,06 billion euros, or 59,23 percent of gross domestic product (GDP), according to data from the Ministry of Finance.
"Total state debt with deposits at the end of December amounted to 3,9 billion euros, or 58,99 percent of GDP," according to the Ministry's quarterly report published today.
External debt was 3,52 billion euros, or 51,37 percent of GDP, and internal debt was 542,62 million euros, or 7,92 percent of GDP.
At the end of December, deposits amounted to 152,41 million euros, including 38,45 thousand ounces of gold, whose value at the end of December was 72,37 million euros, or 2,23 percent of GDP.
"During the fourth quarter of last year, the state debt increased by 73,15 million euros compared to the third quarter. The increase was due to an increase in domestic debt in the amount of 159 million euros. Namely, state bills in the amount of 50 million euros were issued and a new credit arrangement was concluded with eight domestic commercial banks in the total amount of 109 million euros, for the purpose of financing the budget", the document specifies.
On the basis of the contracts that were concluded in the earlier period for the implementation of projects in the field of communal activities, energy efficiency, improvement of road infrastructure and the like, during the fourth quarter of last year, around 29,45 million euros were withdrawn.
"During the fourth quarter, the state debt was repaid based on the principal in the total amount of EUR 86,77 million, of which EUR 12,49 million was related to debt repayment to residents, while debt repayment to non-residents amounted to EUR 74,28 million. In the same period, the interest of 44,21 million euros was repaid, of which the domestic repayment was 3,53 million euros, and the foreign interest was 40,68 million euros," the Ministry said.
When it comes to the interest structure of the national debt, it is evident that debt with a fixed interest rate predominates and that from that aspect the debt portfolio is stable.
Debts with a variable interest rate are mainly linked to Euribor and make up 20,09 percent of the national debt.
"When it comes to the currency structure of the debt, at the end of last year, the participation of the euro in the national debt was 81,33 percent, while the participation of the dollar and other currencies was 17,14 percent and 1,53 percent, respectively," the report concludes.
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