Government Debt

The efforts aimed at achieving progress in the fiscal area have set as priority the effective management of the government debt. Тhe pursued prudent fiscal policy and the outlined long-term objectives in the economic processes area, are the factors that have the largest contribution to the strengthening of the key lines and priorities of the policy on government debt management pursued by the Ministry of Finance (MoF).

The government debt management policy is implemented in accordance with the Government Debt Management Strategy, in compliance with the existing legislation in Republic of Bulgaria, in particular the Government Debt Act, the Public Finance Law, the State Budget Law of the Republic of Bulgaria for the relevant year, and other laws and by-laws. The organizational and functional structure of MoF built in connection therewith is aimed at ensuring the following more important lines and areas of activity:

  • Preparing of annual plans for projected government budget financing with government securities; conducting of the Issuance Policy (IP) of the MоF on the domestic and international capital markets, including the structuring of the issues’ parameters;
  • Development of a Government Debt Management Strategy under the Government Debt Act for the period of the relevant medium-term budget forecast, implementation of ongoing monitoring of the level and parameters of government and government guaranteed debt;
  • Ensuring the servicing of all financial liabilities assumed on behalf and at the expense of the state, constituting the state debt, including monitoring of those for which a guarantee has been issued on behalf and at the expense of the state under the relevant legal order;
  • The ensuring of a fair, effective and transparent market of GS and their derivatives, with a view to the ultimate protection of the interests of the investors and the awareness of the market participants through the application of the relevant instruments for regulation and control.

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