The Government has taken another BGN 500 million debt in the internal market
The government has taken another BGN 500 million new debt from the domestic market, re-installing 3-year state securities. It was the biggest auction of the year, as an internal loan for such a large volume has not been drawn since 2022.
Since the beginning of the year and its introduction, the Zhelyazkov Cabinet has already raised BGN 1.5 billion. New debt – most of them – even before the new budget is accepted.
The budget deficit for the first quarter is BGN 1.9 billion.
The interest in the issue is relatively high – orders for BGN 971.9 million have been admitted to the auction, which corresponds to the coefficient of coverage of 1.94. The average weighted annual profitability is 2.88%. The results generally correspond to the similar auction with the same maturity of a month ago as the BGN 100 million was placed. Then the coefficient of coverage reached 1.90 and the yield was 2.85%.
What is ahead?
According to the adopted budget 2025, the cabinet has the right to withdraw a record of BGN 18.9 billion in the year.
In all likelihood, due to the large volume, international emissions will also be held, and half a month after the adoption of the new budget, the Ministry of Finance, led by Temenuzhka Petkova, has not yet published an emission calendar for 2025. However, a new auction for a new internal loan for April 14 has already been scheduled, when BGN 300 million will be sought.
The new debt is intended in addition to the deficit of about BGN 6.5 billion and for a debt of BGN 3.5 billion this year. Outside these BGN 10 billion, the adoption of the state budget enabled debt financing to be intended for the capitalization of state -owned companies.
