Bulgaria External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Bulgaria's external debt to gni was 50.24% in 2025, ranked 41st globally. This represents a 8.9% decrease from 2024. Data from World Bank, covering 1981–2025.
Overview
Bulgaria's external debt to gni stood at 50.24% in 2025, a decline of +4.90pp from 2022. Based on recent trends, this figure is projected to reach 50.24% by 2025. Bulgaria ranked 41st globally.
Bulgaria's external debt to GNI ratio has experienced significant fluctuations over the past four decades. At 3.93% in 1981, it was at its lowest point before rising steadily, peaking at 171.30% in 1991 during the country's economic transition. This peak was a result of the country's shift from a centrally planned economy to a market-based one, which led to increased borrowing from international lenders. As of 2025, the ratio has decreased to 50.24%, placing Bulgaria at the 41st position globally. Compared to its peer countries, such as Burundi at 49.38%, Bulgaria's debt-to-GNI ratio remains relatively high. Despite the decrease, the high ratio is a concern, as it may limit the country's ability to respond to future economic shocks. A sustained increase in economic growth, driven by investments in key sectors such as manufacturing and services, could potentially alter the trajectory of Bulgaria's external debt to GNI ratio in the coming years.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2025* trend | 50.24% | - | - |
| 2025 | 50.24% | −4.90pp | #41 |
| 2022 | 55.14% | −0.32pp | #72 |
| 2021 | 55.46% | −13.46pp | #66 |
| 2020 | 68.92% | +8.00pp | #78 |
| 2019 | 60.92% | −1.90pp | #79 |
| 2018 | 62.82% | −8.20pp | #84 |
| 2017 | 71.02% | −5.70pp | #86 |
| 2016 | 76.72% | −5.49pp | #95 |
| 2015 | 82.21% | −1.18pp | #100 |
| 2014 | 83.39% | −11.24pp | #104 |
| 2013 | 94.63% | −1.36pp | #108 |
| 2012 | 95.99% | +10.55pp | #112 |
| 2011 | 85.44% | −16.72pp | #108 |
| 2010 | 102.15% | −8.42pp | #112 |
| 2009 | 110.58% | +8.22pp | #114 |
Detected Pattern
Analysis
Bulgaria matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Bulgaria's external debt to gni was 50.24% in 2025. Ranked 41st globally. This represents a 8.9% decrease from the previous year.
Bulgaria's external debt to gni peaked at 171.30% in 1991.
The lowest external debt to gni in Bulgaria was 3.93% in 1981.
Bulgaria ranks 41st globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Bulgaria's external debt to gni is projected to reach 50.24% by 2025 based on trend extrapolation.
The external debt to gni of Bulgaria in 2025 was 50.24%. This ranks 41st in the world.
Cite this page
@misc{historysaid_bulgaria_external-debt-to-gni,
title = {Bulgaria External Debt to GNI},
url = {https://historysaid.com/bulgaria/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}