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Awards, statements by institutional representatives and observations on debt describe the context of the time. They do not establish the current risk of a state or a specific financial transaction and do not guarantee future tax conditions.
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The strength of Bulgaria’s economic system and its management of taxation, growth and public debt continually receive positive and encouraging international recognition.
Sound public debt management is an asset for Bulgaria, which has a very low debt-to-GDP ratio, among the lowest in Europe.
Bulgaria was awarded a prize by the prestigious magazine Global Markets Award for the best country in Central and Eastern Europe in sovereign debt management / bond issuance on international capital markets.
The excellent timing of the two-tranche Eurobond placement in March 2016, immediately after the announcement of the ECB’s quantitative easing measures, combined with the Ministry of Finance’s unexpected decision to issue bonds without first holding the traditional roadshow, underpinned the award.
The chosen method of bond issuance demonstrates the country’s growing financial expertise and confidence.
The award was received by Deputy Finance Minister Marinela Petrova during a special ceremony in Washington, the US capital, held in the early hours of Sunday local time. “We are pleased that smart solutions in our work produce good results, and this can be seen internationally. Bulgaria’s Ministry of Finance will continue to pursue a policy of reducing the deficit and debt. However, if our country needs to raise financing on international markets again in the future, it will make the effort and I am confident that we will succeed,” said Marinela Petrova, who was part of the Bulgarian delegation to the annual meeting of the World Bank and International Monetary Fund in Washington, led by Finance Minister Vladislav Goranov. In her speech at the ceremony, Petrova thanked her colleagues at the Ministry of Finance for their professionalism in handling the issues.
In 2015, the publication awarded a prize for Bulgaria “Most Impressive Borrower in Central and Eastern Europe”, through which Bulgaria strengthens its position as an issuer achieving extremely favourable financing conditions on international markets.
The Bulgarian economy is flourishing, including on the debt front!