Debt-to-GDP ratio

NEW YORK - The US credit rating agency Moody's has announced it expected Serbia's general government fiscal deficit to be 2.3 pct in 2016 amid continued increases in tax collection and public sector reforms.

Supported by an acceleration of real GDP growth by 2.7 pct this year, from 0.8 pct in 2015, the debt-to-GDP ratio will stabilise at around 75 pct in 2016, it said in a report.

Bulgaria's government debt totalled EUR 13.34 B in nominal terms at of end-April 2016, the Finance Ministry announced on Tuesday.

Compared with end-March 2016, total government debt was EUR 9.5 M lower at the end of April.

Bulgaria's government debt increased to EUR 13.35 B at the end of March, compared with EUR 11.60 B a month earlier, according to data from the Finance Ministry.

The increaseof EUR 1.75 B in nominal terms reflected the issuing of a EUR 1.994 B dual-tranche bond on March 14. The deal comprised a EUR 1.144 B seven-year tranche and a EUR 850 M 12-year tranche.

While euro area sovereigns' ratings will likely remain stable in 2016-17, fading fiscal consolidation, limited progress on structural reforms and an increasingly fluid political landscape limit upside potential and create longer-term risks, said Moody's Investors Service in a report published on March 18.

Bulgaria's government debt totalled EUR 11.60 B in nominal terms at the end of January, the Finance Ministry announced on Monday.

This compared with total government debt of EUR 10.63 B at the end of January 2015 and EUR 11.61 B at the end of December 2015, Finance Ministry data showed.

Bulgaria's Finance Ministry has chosen four banks as lead managers of a bond sale of up to BGN 3.9 B (EUR 2 B) on global markets in 2016, Reuters reported on Thursday, citing an inside source.

Another source has told the newswire that Citi and JP Morgan Chase were two of the chosen lead managers, and the other two were European banks.

Bulgaria's government debt totalled EUR 11.61 B at the end of 2015, increasing from EUR 11.30 B a the end of the previous year, Finance Ministry data showed on Friday.

Bulgaria's gross foreign debt decreased by 11% on the year in October, reaching EUR 34.3B according to preliminary data, the country's central bank said on Wednesday.

The gross foreign debt figure at the end of October was equivalent to 79.7% of 2015 GDP forecast by the Bulgarian National Bank (BNB).

According to final figures of the National Statistical Institute (NSI), the government deficit of Bulgaria exceeded BGN 4.8 B in 2014, which represented 5.8 % of the country's GDP.

In 2014, the government debt of Bulgaria exceeded BGN 22.5 B, which represented 27 % of the country's GDP.

A country with slow economic growth receives less in tax revenue and has to borrow money that accumulates as public debt. This may not be a bad thing unless the future economic wellbeing of a country is at risk. The map below by howmuch.net compares debt-to-GDP ratios of the world’s most representative economies.