Bulgaria: public finances

What is Bulgaria's budget deficit?

Bulgaria's general government deficit was €4,113 million in 2025, or 3.5% of GDP, according to preliminary data from the National Statistical Institute (NSI). The central government deficit was €3,854 million, or 3.3% of GDP, and local government had a deficit of €254 million.

These figures follow EU rules for the excessive deficit procedure, under which deficits above 3% of GDP draw attention from the European Commission. Preliminary figures are sent to Eurostat by the end of March and final figures by the end of September. Figures are on an accrual basis, so they differ from the cash budget.

Official sources: NSI: notification tables for debt and deficit, 2025

What is Bulgaria's national debt?

Bulgaria's government debt was €34,635 million at the end of 2025, or 29.9% of GDP, according to the National Statistical Institute (NSI). In the NSI comparison of EU countries, this was the fourth-lowest ratio in the EU, after Estonia, Luxembourg and Denmark. The EU average was 81.7%.

Government debt here is the gross debt of the whole general government sector, measured under EU rules. The EU reference value for debt is 60% of GDP. A ratio can change because debt changes or because GDP grows.

Official sources: NSI: notification tables for debt and deficit, 2025 · NSI: Bulgaria and EU deficit and debt, 2025

How much does the Bulgarian government spend?

Bulgaria's general government spent €11,861.9 million in the first quarter of 2026 and collected €9,560.4 million in revenue, a deficit of €2,301.5 million, according to the National Statistical Institute (NSI).

The figures cover central government, local government and the social security funds, including public enterprises classed in the sector. Quarterly results vary through the year, so one quarter's deficit does not show the full-year result. The NSI also publishes monthly cash fiscal data for central government and the social security funds.

Official sources: NSI: deficit/surplus by subsectors of general government, Q1 2026

What is Bulgaria's national debt?

In 2025, general government gross debt in Bulgaria was 29.9% of GDP, according to the IMF. That is the highest since at least 2005. It is 39th highest of 51 in Europe & Central Asia, where the median is 46.9% of GDP. World rank, highest first: 156th of 185.

Does Bulgaria's government borrow more than it raises?

According to the IMF, general government net lending or borrowing in Bulgaria was -3.0% of GDP in 2025 (a deficit). The peak was 3.2% of GDP in 2006 and the low -3.8% of GDP in 2010. Europe & Central Asia median: -2.4% of GDP; Bulgaria is 32nd highest of 51. World rank, highest first: 104th of 188.

How much does Bulgaria's government take in?

35.9% of GDP: that is general government revenue in Bulgaria for 2025, according to the IMF. Since 2005 it has ranged from 30.1% of GDP (2011) to 36.8% of GDP (2022). Europe & Central Asia median: 41.3% of GDP; Bulgaria is 35th highest of 50. Of 187 countries with 2025 data, 57th highest.

How much does Bulgaria's government spend?

The IMF puts general government spending in Bulgaria at 38.9% of GDP in 2025. No year since 2005 has been higher. It is 35th highest of 50 in Europe & Central Asia, where the median is 43.3% of GDP. World rank, highest first: 56th of 186.

What is Bulgaria's tax to GDP ratio?

In 2024, central government tax revenue in Bulgaria was 20.7% of GDP, according to the IMF. Since 2005 it has ranged from 17.9% of GDP (2010) to 22.0% of GDP (2008). It is 22nd highest of 42 in Europe & Central Asia, where the median is 20.8% of GDP. World rank, highest first: 34th of 92.

What is Bulgaria's defence spending?

According to SIPRI, military spending in Bulgaria was 2.0% of GDP in 2025. Its high point since 2005 was 2019, at 3.2% of GDP; its low point was 2017, at 1.2% of GDP. Europe & Central Asia median: 2.0% of GDP; Bulgaria is 28th highest of 46. Worldwide: 61st of 149.