Appendix...13269 1113791 13828239 1035 947221 25509546 2244 842721 35205002 3481 780038 50135366...
39
Appendix
Transcript of Appendix...13269 1113791 13828239 1035 947221 25509546 2244 842721 35205002 3481 780038 50135366...
Appendix
126
Contents
Gross Domestic Product 127Employment by Economic Sector 128Employment and Wages in the Public Sector 129Consumer Price Indices in 1996 (previous month = 100) 130Consumer Price Indices in 1996 (December 1995 = 100) 130Commodity Structure of Imports 131Commodity Structure of Exports 132Geographic Structure of Imports 133Geographic Structure of Exports 133Commodity and Geographic Structure of Imports (share of countriesíimports in commodity groups) 134Commodity and Geographic Structure of Imports (share of commodity groupsíimports in group of countries) 134Commodity and Geographic Structure of Exports (share of countriesíexports in commodity groups) 135Commodity and Geographic Structure of Exports (share of commodity groupsíexports in group of countries) 135Balance of Payments 136Foreign Debt Service 139Gross Foreign Debt 139Debt Indicators 139Consolidated State Budget 140Cash Basis Reporting of the General Government Budget 142Domestic Government Debt 144Money Supply 146Domestic Credit 147Nominal Interest Rates on One-month Deposits 148Real Interest Rates on One-month Deposits 148Nominal Interest Rates on Short-term Credits 149Real Interest Rates on Short-term Credits 149Denomination Composition in Notes and Coins 150Central Exchange Rate, Volume of the Interbank Forex Market andGross Forex Reserves 151Consolidated Balance Sheet of Commercial Banks 152Consolidated Income Statement of Commercial Banks 153Big Loans of Commercial Banks (as per Regulations No. 7 of the BNB) 154Capital Adequacy of Commercial Banks (as per Regulations No. 8 of the BNB) 154Consolidated Report of Commercial Banks (as per Regulations No. 9of the BNB) 154Transfers in the Banking System 155Major Economic and Political Events in 1996 156Major Resolutions of the Managing Board of the BNB in 1996 158
127
Indicators
GROSS DOMESTIC PRODUCT
1994 1995 19961 1995 19961
(growth rate on previousyear2, %)(current prices, million BGL)
GDP Industry and construction Agriculture Services
Adjustment3
FINAL DEMAND Final consumption Public Government spending
Gross investment Capital investment Inventory growth
Foreign trade balance4
Statistical discrepancy
1 NSI preliminary data.2 Rates are calculated according to methodologically comparable volumes.3 Including conditional added value of financial intermediaries, value added tax and import duties.4 Net exports of goods and services, travel services excluded.
Source: NSI.
525552 867691 1660327 2.1 -10.9145983 251492 524615 -6.3 -7.9
60384 111416 188833 14.4 -18.0310683 465652 894510 2.0 -6.5
8502 39131 52369
525552 867691 1660327479477 744558 1490559389130 610150 1283924 -1.6 -7.4
90347 134408 206635 -7.9 -31.8
49360 125126 191000 - -72327 123588 224000 8.8 -13.5
-22967 1538 -33000 - -
-3285 -1993 -28057 - -
0 0 6735 - -
128
Tot
al
Indu
stry
Con
stru
ctio
nA
gric
ultu
reF
ores
try
Tra
nspo
rtC
omm
unic
atio
nsT
rade
, lo
gist
ics
and
purc
hasi
ngO
ther
ind
ustr
y se
ctor
sP
ublic
uti
litie
s an
d se
rvic
esR
esea
rch
and
deve
lopm
ent
Edu
cati
onA
rts
and
hum
anit
ies
Hea
lthc
are,
soc
ial
secu
rity
,ph
ysic
al t
rain
ing,
spo
rts
and
tour
ism
Fin
ance
, cr
edit
and
insu
ranc
eM
anag
emen
tO
ther
non
indu
stri
al s
ecto
rs
* P
relim
inar
y da
ta.
Sour
ce:
NSI
.
EM
PL
OY
ME
NT
BY
EC
ON
OM
IC S
EC
TO
R
Indi
cato
rs19
9419
9519
96*
1994
1995
1996
*19
9419
9519
96*
Yea
r av
erag
e, p
erso
nsE
mpl
oym
ent
rate
, %
Indi
ces,
199
0 =
100
, %
Tot
alT
otal
Tot
alT
otal
Tot
alT
otal
Tot
alT
otal
Tot
alP
riva
tese
ctor
Pri
vate
sect
orP
riva
tese
ctor
Pri
vate
sect
orP
riva
tese
ctor
Pri
vate
sect
orP
riva
tese
ctor
Pri
vate
sect
orP
riva
tese
ctor
3241
601
1167
105
3282
183
1332
779
3279
482
1377
922
79.1
483.
180
.155
1.7
80.0
570.
410
0.0
100.
010
0.0
100.
010
0.0
100.
0
9428
6211
5736
9219
8914
3490
8935
3815
1197
62.9
645.
161
.579
9.8
59.6
842.
729
.19.
928
.110
.827
.211
.019
2202
8110
318
7577
9364
818
0848
9378
057
.164
1.2
55.7
740.
453
.774
1.5
5.9
6.9
5.7
7.0
5.5
6.8
7381
7257
9160
7696
1964
3068
7947
7167
7570
100.
436
1.3
104.
740
1.2
108.
142
2.7
22.8
49.6
23.4
48.3
24.2
49.2
1333
116
813
299
174
1502
717
659
.659
.567
.20.
40.
00.
40.
00.
50.
018
8458
4183
620
6063
7252
119
9878
6975
078
.047
7.8
85.3
828.
282
.779
6.6
5.8
3.6
6.3
5.4
6.1
5.1
4415
332
144
931
906
4630
095
898
.810
0.5
103.
61.
40.
01.
40.
11.
40.
1
3688
5025
2807
3567
5225
7944
3578
1626
6767
99.1
1116
.095
.911
38.7
96.2
1177
.711
.421
.710
.919
.410
.919
.432
500
2022
134
598
2474
034
844
2580
511
1.9
1287
.111
9.2
1574
.812
0.0
1642
.61.
01.
71.
11.
91.
11.
975
431
2104
581
460
2235
790
184
2325
182
.225
8.7
88.8
274.
898
.328
5.8
2.3
1.8
2.5
1.7
2.7
1.7
3028
745
427
349
345
2652
637
833
.325
0.8
30.1
190.
629
.220
8.8
0.9
0.0
0.8
0.0
0.8
0.0
2549
7223
6325
3458
2688
2557
2227
7093
.537
9.9
92.9
432.
293
.744
5.3
7.9
0.2
7.7
0.2
7.8
0.2
4118
312
566
5516
528
570
5519
228
717
87.2
881.
811
6.9
2004
.911
6.9
2015
.21.
31.
11.
72.
11.
72.
1
1952
1976
2119
6289
8766
1997
0897
7488
.313
16.2
88.8
1514
.090
.416
88.1
6.0
0.7
6.0
0.7
6.1
0.7
4403
811
473
5109
518
483
4943
216
690
179.
228
682.
520
7.9
4620
7.5
201.
141
725.
01.
41.
01.
61.
41.
51.
275
263
1571
576
084
8739
7536
160
7913
8.1
433.
013
9.6
240.
813
8.3
167.
52.
31.
32.
30.
72.
30.
446
8045
1664
5563
4043
3542
6033
.131
.945
.644
.830
.630
.10.
10.
40.
20.
50.
10.
3
129
EM
PL
OY
ME
NT
AN
D W
AG
ES
IN
TH
E P
UB
LIC
SE
CT
OR
3037
537
3687
7306
1012
2525
773
6205
4223
2047
2165
680
8397
6110
3231
1959
212
1166
2300
449
6018
5704
316
9299
948
7597
1808
385
2879
5497
213
269
1113
791
1382
8239
1035
9472
2125
5095
4622
4484
2721
3520
5002
3481
7800
3850
1353
6653
5674
5204
7554
1834
8448
6966
4813
7745
844
1647
721
6914
2977
208
1144
1698
2947
8068
523
4613
0726
5496
899
3504
1056
2770
1303
655
3389
995
8462
070
7836
8527
012
9386
3212
645
5266
7862
2819
098
535
3911
6618
595
1558
2120
4358
2636
822
9014
3125
5945
777
3462
1084
2069
4639
953
3999
776
1048
3698
8756
1703
516
1430
790
1670
830
4142
1517
1336
137
9383
2366
1248
351
4005
3431
1251
780
1064
5333
1440
213
3343
577
1519
759
2717
4911
4615
016
4717
7226
1811
974
5459
1537
9911
161
7416
0755
3792
0682
9285
7507
8590
1251
669
1214
3
1978
6425
3164
110
6617
1087
4866
817
2371
1553
0672
3867
038
8414
2546
1034
8049
6050
1301
4614
2300
8491
1212
7751
2536
5294
1654
643
142
5424
2810
4841
684
1079
341
2158
4188
217
5210
734
8641
730
2759
141
5510
4214
840
4736
380
0245
282
7033
810
1294
5
2223
3024
7948
292
916
2553
3929
962
2015
1308
2249
7321
431
6810
7110
6279
625
4886
9283
487
1935
378
2786
830
1396
1010
1339
955
101
6569
4899
448
070
1205
111
2089
4934
219
1168
232
2952
250
3093
099
4933
5696
248
7018
371
2565
538
8975
669
1141
360
999
7548
1810
3146
612
1137
332
2033
3291
212
6377
632
0028
242
1704
242
5029
2563
923
3692
075
9625
407
3369
060
1105
025
9108
2841
517
914
2533
5350
8082
116
7125
0763
7923
768
2633
2439
9811
2268
8538
3424
3129
1649
2204
5653
2459
6926
3123
4389
1534
244
3599
0887
629
282
5612
1215
9728
144
8490
1525
1427
093
1217
454
3745
2538
418
2896
460
0425
667
2661
668
8642
1949
7221
6845
692
719
1731
4043
019
1757
1866
6962
9453
628
1017
9746
8742
323
4053
1806
6312
7120
5458
6418
3651
1901
5894
8629
2391
140
8189
1423
3066
812
0496
732
7424
467
1859
460
6333
2668
830
1172
194
0429
541
5057
557
1426
729
847
8529
330
2381
445
804
6021
4310
9645
133
1188
352
2194
5381
824
2309
237
5257
225
3881
210
5652
6514
264
1369
282
0567
689
8967
682
1104
058
8564
960
920
2915
7254
920
7473
033
223
3793
150
9464
5258
110
1092
282
7472
9934
1149
8
1991
1992
1993
1994
1995
1996
Reg
iste
red
num
ber
ofem
ploy
ed(p
erso
ns)*
Ave
rage
mon
thly
wag
e
(BG
L)
Tot
al
Ind
ustr
y C
onst
ruct
ion
Agr
icul
ture
For
estr
y O
ther
ind
ustr
y se
ctor
s S
ervi
ces
T
rans
port
C
omm
unic
atio
ns
Tra
de,
logi
stic
s an
d
pur
chas
ing
Pub
lic u
tilit
ies
and
serv
ices
Res
earc
h an
d de
velo
pmen
t E
duca
tion
Art
s an
d hu
man
itie
s H
ealt
hcar
e, s
ocia
l se
curi
ty,
phy
sica
l tr
aini
ng,
spor
ts a
nd t
ouri
sm F
inan
ce,
cred
it a
nd i
nsur
ance
Man
agem
ent
Oth
er n
onin
dust
rial
sec
tors
Reg
iste
red
num
ber
ofem
ploy
ed(p
erso
ns)*
Reg
iste
red
num
ber
ofem
ploy
ed(p
erso
ns)*
Reg
iste
red
num
ber
ofem
ploy
ed(p
erso
ns)*
Reg
iste
red
num
ber
ofem
ploy
ed(p
erso
ns)*
Reg
iste
red
num
ber
ofem
ploy
ed(p
erso
ns)*
Ave
rage
mon
thly
wag
e
(BG
L)
Wag
efu
nds
(mill
ion
BG
L)
Ave
rage
mon
thly
wag
e
(BG
L)
Wag
efu
nds
(mill
ion
BG
L)
Ave
rage
mon
thly
wag
e
(BG
L)
Wag
efu
nds
(mill
ion
BG
L)
Ave
rage
mon
thly
wag
e
(BG
L)
Wag
efu
nds
(mill
ion
BG
L)
Ave
rage
mon
thly
wag
e
(BG
L)
Wag
efu
nds
(mill
ion
BG
L)
Wag
efu
nds
(mill
ion
BG
L)
* W
omen
on
mat
erni
ty l
eave
exc
lude
d.
Sour
ce:
NSI
.
Indi
cato
rs
130
Con
sum
er p
rice
ind
ex
Foo
d
Non
food
Se
rvic
es
F
ood*
D
rink
T
obac
co p
rodu
cts
H
ousi
ng
Hou
seho
ld e
nerg
y
Hom
e fu
rnit
ure
C
loth
ing
and
foot
wea
r
Hyg
iene
and
hea
lthc
are
E
duca
tion
and
lei
sure
T
rans
port
and
com
mun
icat
ions
O
ther
102.
310
1.9
101.
710
2.9
112.
512
0.2
123.
311
7.1
118.
811
6.7
109.
712
6.9
103.
010
1.0
101.
110
1.8
111.
112
3.2
119.
812
1.5
121.
911
9.6
106.
412
2.9
100.
710
1.3
102.
510
2.8
115.
712
2.1
120.
511
2.8
116.
811
3.6
114.
013
6.9
103.
510
7.0
101.
510
7.7
110.
210
7.5
147.
711
4.9
112.
611
3.4
111.
011
7.9
103.
110
1.1
101.
210
1.6
110.
612
1.9
119.
412
1.5
122.
511
9.8
106.
612
2.7
101.
710
0.4
103.
010
7.2
115.
513
6.0
118.
510
6.3
105.
311
0.5
107.
212
3.3
100.
610
0.1
100.
310
2.0
115.
912
1.1
136.
710
3.3
104.
811
4.0
108.
713
3.8
106.
010
1.2
101.
910
1.7
108.
611
2.7
121.
411
6.3
112.
711
7.0
107.
812
2.2
100.
410
0.3
100.
811
5.4
116.
910
3.6
189.
012
1.8
115.
011
3.6
113.
111
4.4
101.
010
0.9
102.
410
2.2
117.
912
0.9
121.
311
1.6
115.
811
0.0
115.
414
6.9
100.
810
1.0
101.
610
2.3
110.
810
9.3
110.
511
1.3
125.
411
6.7
116.
113
7.4
100.
910
2.6
102.
510
3.2
107.
112
2.1
119.
711
3.7
111.
811
1.5
109.
613
7.6
101.
510
3.4
101.
799
.211
8.8
115.
211
5.8
108.
911
6.8
105.
211
2.1
139.
410
1.5
109.
110
4.1
104.
511
6.9
134.
211
9.8
112.
911
4.1
114.
611
3.9
132.
410
5.0
101.
210
1.5
100.
710
6.4
110.
911
3.3
104.
410
3.1
115.
911
5.5
114.
0
Con
sum
er p
rice
ind
ex
Foo
d
Non
food
Se
rvic
es
F
ood*
D
rink
T
obac
co p
rodu
cts
H
ousi
ng
Hou
seho
ld e
nerg
y
Hom
e fu
rnit
ure
C
loth
ing
and
foot
wea
r
Hyg
iene
and
hea
lthc
are
E
duca
tion
and
lei
sure
T
rans
port
and
com
mun
icat
ions
O
ther
CO
NS
UM
ER
PR
ICE
IN
DIC
ES
IN
1996
(Decem
ber 1
995 =
100)
Com
mod
ity
(ser
vice
s) g
roup
sJa
nuar
yF
ebru
ary
Mar
chA
pril
May
June
July
Aug
ust
Sept
embe
rO
ctob
erN
ovem
ber
Dec
embe
r
* In
clud
ing
pric
es i
n ca
teri
ng e
stab
lishm
ents
.
Sour
ce:
NSI
.
102.
310
4.2
106.
010
9.0
122.
714
7.5
181.
921
3.0
253.
029
5.1
323.
641
0.8
103.
010
4.0
105.
110
7.0
118.
914
6.5
175.
421
3.2
260.
031
0.9
330.
940
6.6
100.
710
2.0
104.
610
7.5
124.
415
1.8
182.
720
6.1
240.
827
3.6
312.
042
7.0
103.
511
0.7
112.
412
1.0
133.
414
3.4
211.
824
3.3
274.
031
0.9
345.
040
6.7
103.
110
4.2
105.
410
7.1
118.
514
4.4
172.
420
9.5
256.
530
7.3
327.
540
1.7
101.
710
2.1
105.
211
2.8
130.
317
7.2
209.
922
3.2
234.
925
9.7
278.
334
3.2
100.
610
0.7
101.
010
3.0
119.
414
4.6
197.
720
4.1
213.
924
3.9
265.
235
4.8
106.
010
7.3
109.
311
1.2
120.
813
6.1
165.
219
2.1
216.
625
3.4
273.
033
3.6
100.
410
0.7
101.
511
7.1
136.
914
1.8
268.
132
6.5
375.
342
6.2
482.
155
1.6
101.
010
1.9
104.
410
6.7
125.
815
2.1
184.
420
5.8
238.
426
2.2
302.
744
4.6
100.
810
1.8
103.
510
5.8
117.
212
8.1
141.
515
7.5
197.
523
0.4
267.
436
7.5
100.
910
3.5
106.
110
9.5
117.
314
3.2
171.
419
5.0
218.
024
3.1
266.
436
6.6
101.
510
4.9
106.
810
6.0
125.
914
5.1
168.
018
3.0
213.
722
4.8
251.
935
1.1
101.
511
0.7
115.
312
0.5
140.
918
9.2
226.
725
5.9
292.
133
4.7
381.
250
4.6
105.
010
6.3
107.
910
8.6
115.
612
8.2
145.
315
1.7
156.
418
1.2
209.
323
8.7
CO
NS
UM
ER
PR
ICE
IN
DIC
ES
IN
1996
(previo
us m
on
th =
100)
Com
mod
ity
(ser
vice
s) g
roup
sJa
nuar
yF
ebru
ary
Mar
chA
pril
May
June
July
Aug
ust
Sept
embe
rO
ctob
erN
ovem
ber
Dec
embe
r
131
1775.1 31.5 2008.1 40.7 233.0 13.11622.4 28.8 1859.1 37.6 236.8 14.6
124.5 2.2 116.0 2.3 -8.5 -6.8
1259.7 22.3 909.8 18.4 -349.9 -27.8550.5 9.8 461.5 9.3 -89.0 -16.2267.4 4.7 192.5 3.9 -74.9 -28.0300.0 5.3 147.7 3.0 -152.4 -50.8114.1 2.0 84.5 1.7 -29.6 -25.9
802.3 14.2 602.8 12.2 -199.6 -24.9142.6 2.5 109.9 2.2 -32.6 -22.9139.3 2.5 93.7 1.9 -45.7 -32.887.9 1.6 80.7 1.6 -7.2 -8.2
143.1 2.5 78.2 1.6 -64.9 -45.483.7 1.5 66.6 1.3 -17.1 -20.4
642.8 11.4 571.5 11.6 -71.3 -11.1123.0 2.2 100.7 2.0 -22.3 -18.1114.5 2.0 88.3 1.8 -26.2 -22.9
455.7 8.1 372.6 7.5 -83.1 -18.2140.2 2.5 94.8 1.9 -45.4 -32.4
6.1 0.1 72.5 1.5 66.4 1092.5
397.0 7.0 258.3 5.2 -138.7 -34.9141.0 2.5 91.7 1.9 -49.3 -35.089.3 1.6 61.9 1.3 -27.4 -30.7
305.9 5.4 216.5 4.4 -89.4 -29.2179.5 3.2 117.1 2.4 -62.4 -34.8
5638.0 100.0 4939.6 100.0 -698.4 -12.4414.4 360.0
5223.6 4579.6 -644.0 -12.3
COMMODITY STRUCTURE OF IMPORTS
Commodity groups
Mineral products and fuels Mineral fuels and oils Ores, slags and ashes
Machines, transport facilities, appliances,tools and weapons Boilers, machines, appliances and machinery Electrical machines and appliances Cars, tractors and other transport facilities Optical instruments and appliances
Chemical products, plastics and rubber Plastics Organic chemical products Chemical industry products Inorganic chemical products Pharmaceutic products
Textile, leather materials, clothing, footwear andother industrial consumer goods Staple synthetic or artificial fibres Cotton
Animal and vegetable products,food, drink and tobacco Sugar and sugar products Cereals
Base metals and their products Cast-iron, iron and steel Aluminum and its products
Wood, paper, earthenware and glass products Paper and cardboard
Imports, total (CIF)(-) Freight expenditureImports, total (FOB)
Source: NSI (final data for 1995) and MF Computing Center and Customs Head Office (preliminary data for 1996).
1995 1996Change on
previous year
million %USD
million relativeUSD share, %
million relativeUSD share, %
132
985.8 18.4 943.6 20.0 -42.1 -4.3243.9 4.6 258.2 5.5 14.3 5.9185.4 3.5 137.1 2.9 -48.3 -26.0151.2 2.8 123.9 2.6 -27.3 -18.1121.4 2.3 117.6 2.5 -3.8 -3.191.9 1.7 95.0 2.0 3.2 3.476.8 1.4 90.3 1.9 13.5 17.6
1170.9 21.9 890.6 18.9 -280.3 -23.9306.0 5.7 244.9 5.2 -61.1 -20.0194.9 3.6 175.5 3.7 -19.4 -9.9
1047.5 19.6 827.9 17.5 -219.6 -21.0552.2 10.3 342.3 7.2 -209.9 -38.0280.4 5.2 248.3 5.3 -32.1 -11.4
686.1 12.8 700.1 14.8 13.9 2.0
153.1 2.9 166.4 3.5 13.4 8.796.8 1.8 106.9 2.3 10.1 10.486.3 1.6 100.6 2.1 14.3 16.6
755.8 14.1 718.1 15.2 -37.7 -5.0
421.0 7.9 385.4 8.2 -35.6 -8.4189.0 3.5 178.0 3.8 -11.0 -5.877.2 1.4 75.9 1.6 -1.3 -1.7
441.0 8.3 424.7 9.0 -16.3 -3.7329.0 6.2 305.7 6.5 -23.3 -7.1
258.3 4.8 218.9 4.6 -39.5 -15.375.4 1.4 74.0 1.6 -1.4 -1.9
5345.0 100.0 4723.8 100.0 -621.2 -11.6
COMMODITY STRUCTURE OF EXPORTS
Commodity groups
Chemical products, plastics and rubber Fertilizers Organic chemical products Inorganic chemical products Plastics Pharmaceutic products Tanning and dye extracts
Animal and vegetable products,food, drink and tobacco Tobacco and processed substitutes Soft and alcoholic drinks
Base metals and their products Cast-iron, iron and steel Copper and its products
Textile, leather materials, clothing, footwear andother industrial consumer goods Clothing and accessories other than knitwear Shoes Clothing and accessories to knitwear
Machines, transport facilities, appliances,tools and weapons Nuclear reactors, boilers, machines, appliances and machinery Electrical machines and appliances Sea and river shipping
Mineral products and fuels Mineral fuels and oils
Wood, paper, earthenware and glass products Wood and wood products
Exports, total (FOB)
Source: NSI (final data for 1995) and MF Computing Center (preliminary data for 1996).
1995 1996Change on
previous year
million %USD
million relativeUSD share, %
million relativeUSD share, %
133
GEOGRAPHIC STRUCTURE OF IMPORTS
Regions
EUROPEAN UNION Germany Italy Greece France Austria United Kingdom Netherlands
EFTA
OTHER OECD COUNTRIES USA Turkey
BALKAN COUNTRIES
CEFTA
FORMER USSR COUNTRIES Russia Ukraine
OTHER COUNTRIES Iran
Imports, total (CIF)(-) Freight expenditureImports, total (FOB)
Source: NSI (final data for 1995) and MF Computing Center and Customs Head Office (preliminary data for 1996).
2034.2 36.1 1547.0 31.3 -487.2 -23.9697.0 12.4 536.2 10.9 -160.8 -23.1326.6 5.8 299.0 6.1 -27.5 -8.4248.7 4.4 188.3 3.8 -60.4 -24.3157.3 2.8 154.0 3.1 -3.3 -2.1156.9 2.8 117.5 2.4 -39.4 -25.1147.4 2.6 99.7 2.0 -47.7 -32.3111.0 2.0 86.4 1.7 -24.6 -22.1
161.5 2.9 123.6 2.5 -37.9 -23.5
311.6 5.5 263.1 5.3 -48.5 -15.6119.1 2.1 107.6 2.2 -11.5 -9.699.8 1.8 90.7 1.8 -9.0 -9.1
244.7 4.3 155.3 3.1 -89.4 -36.5
178.1 3.2 152.0 3.1 -26.1 -14.6
1869.2 33.2 1556.7 31.5 -312.5 -16.71583.9 28.1 1401.3 28.4 -182.6 -11.5
188.1 3.3 110.9 2.2 -77.2 -41.1
839.1 14.9 1141.9 23.1 302.8 36.1170.1 3.0 75.8 1.5 -94.3 -55.4
5638.0 100.0 4939.6 100.0 -698.4 -12.4414.4 359.99
5223.6 4579.6 -644.0 -12.3
GEOGRAPHIC STRUCTURE OF EXPORTS
Regions
EUROPEAN UNION Italy Germany Greece United Kingdom France Spain Netherlands
EFTA
OTHER OECD COUNTRIES Turkey USA
BALKAN COUNTRIES Yugoslavia Macedonia Romania
CEFTA
FORMER USSR COUNTRIES Russia Ukraine Moldova Georgia
OTHER COUNTRIES Syria
Exports, total (FOB)
Source: NSI (final data for 1995) and MF Computing Center (preliminary data for 1996).
1997.9 37.4 1725.0 36.5 -272.8 -13.7436.0 8.2 471.4 10.0 35.3 8.1457.8 8.6 419.8 8.9 -38.0 -8.3367.7 6.9 321.0 6.8 -46.7 -12.7167.2 3.1 134.5 2.8 -32.7 -19.6152.9 2.9 120.6 2.6 -32.2 -21.1133.8 2.5 105.1 2.2 -28.7 -21.5102.5 1.9 75.9 1.6 -26.6 -26.0
95.1 1.8 55.9 1.2 -39.2 -41.2
592.3 11.1 526.9 11.2 -65.5 -11.1385.1 7.2 368.1 7.8 -17.0 -4.4162.3 3.0 105.7 2.2 -56.6 -34.9
692.8 13.0 496.7 10.5 -196.1 -28.385.5 1.6 226.3 4.8 140.9 164.8
436.2 8.2 143.1 3.0 -293.1 -67.295.6 1.8 72.4 1.5 -23.2 -24.2
97.3 1.8 89.9 1.9 -7.4 -7.6
922.8 17.3 913.0 19.3 -9.8 -1.1536.1 10.0 462.6 9.8 -73.6 -13.7190.7 3.6 160.1 3.4 -30.6 -16.043.1 0.8 87.7 1.9 44.6 103.50.0 0.0 75.8 1.6 75.8 100.0
947.3 17.7 916.5 19.4 -30.8 -3.369.9 1.3 71.4 1.5 1.5 2.1
5345.4 100.0 4723.8 100.0 -621.6 -11.6
1995 1996Change on
previous year
million %USD
million relativeUSD share, %
million relativeUSD share, %
1995 1996Change on
previous year
million %USD
million relativeUSD share, %
million relativeUSD share, %
134
7.0
5.0
1.8
1.3
19.8
20.1
5.9
7.4
35.9
32.5
22.9
27.0
6.6
6.7
100.
010
0.0
1.5
2.9
0.1
0.1
26.1
28.2
2.8
2.4
32.0
32.3
6.5
5.4
31.0
28.9
100.
010
0.0
20.3
20.0
7.2
4.3
12.8
17.4
2.8
2.5
40.3
34.9
11.9
16.0
4.8
4.9
100.
010
0.0
8.3
6.9
2.3
1.7
19.3
20.2
5.3
6.4
36.2
32.8
20.5
24.1
8.0
7.9
100.
010
0.0
6.4
29.1
12.5
9.7
14.4
15.4
43.0
26.1
7.5
10.4
8.6
5.4
7.6
4.0
100.
010
0.0
3.7
4.8
2.7
6.3
32.0
25.2
13.8
14.1
28.7
29.1
11.3
10.5
7.7
9.9
100.
010
0.0
2.1
1.5
68.5
79.7
10.3
6.1
6.4
3.9
6.2
4.9
2.9
1.5
3.8
2.4
100.
010
0.0
2.6
4.1
57.4
67.9
12.4
8.4
10.9
6.5
8.1
7.3
4.1
2.6
4.5
3.2
100.
010
0.0
22.2
14.3
47.7
62.2
4.0
4.8
1.7
1.2
19.9
12.2
4.4
4.7
0.4
0.4
100.
010
0.0
8.1
7.5
31.5
40.7
14.2
12.2
7.0
5.2
22.3
18.4
11.4
11.5
5.4
4.4
100.
010
0.0
31.3
20.7
2.0
1.0
50.2
51.5
30.4
44.0
58.0
55.3
72.3
73.5
44.0
48.1
36.1
31.3
0.5
0.9
0.0
0.0
5.2
5.8
1.1
1.2
4.1
4.4
1.6
1.2
16.4
16.5
2.9
2.5
13.9
14.1
1.3
0.6
5.0
7.6
2.2
2.5
10.0
10.1
5.7
7.4
4.9
6.0
5.5
5.3
45.8
35.8
3.3
1.6
60.4
64.9
33.8
47.7
72.1
69.7
79.6
82.0
65.2
70.5
44.5
39.1
3.4
12.1
1.7
0.7
4.4
4.0
26.5
15.7
1.5
1.8
3.3
1.5
6.1
2.9
4.3
3.1
1.5
2.0
0.3
0.5
7.1
6.4
6.2
8.3
4.1
4.9
3.1
2.8
4.5
7.0
3.2
3.1
8.4
6.3
72.2
61.8
23.9
15.8
30.0
23.2
9.2
8.4
8.3
4.2
23.0
17.3
33.2
31.5
13.3
20.4
74.1
63.0
35.4
26.1
62.7
47.2
14.7
15.0
14.6
8.5
33.5
27.2
40.6
37.7
40.9
43.8
22.5
35.4
4.2
9.0
3.5
5.1
13.2
15.3
5.7
9.5
1.2
2.3
14.9
23.1
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
CO
MM
OD
ITY
AN
D G
EO
GR
AP
HIC
ST
RU
CT
UR
E O
F I
MP
OR
TS
(sh
are o
f cou
ntr
iesí
imp
orts
in
com
mod
ity g
rou
ps)
CO
MM
OD
ITY
AN
D G
EO
GR
AP
HIC
ST
RU
CT
UR
E O
F I
MP
OR
TS
(sh
are o
f com
mod
ity g
rou
psí
imp
orts
in
grou
p o
f cou
ntr
ies)
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
Eur
opea
n U
nion
OE
CD
EF
TA
Oth
er O
EC
D c
ount
ries
OE
CD
, to
tal
Bal
kan
coun
trie
sC
EE
CE
FT
AF
orm
er U
SSR
cou
ntri
esC
EE
, to
tal
Oth
er c
ount
ries
Tot
al
Sour
ce:
NSI
(fi
nal
data
for
199
5) a
nd
MF
Com
puti
ng C
ente
r an
d C
usto
ms
Hea
d O
ffic
e (p
relim
inar
y da
ta f
or 1
996)
.
Ani
mal
and
vege
tabl
epr
oduc
ts,
food
,dr
ink
and
toba
cco
Min
eral
prod
ucts
and
fuel
s
Che
mic
alpr
oduc
ts,
plas
tics
and
rubb
er
Bas
e m
etal
s an
dth
eir
prod
ucts
Mac
hine
s,tr
ansp
ort
faci
litie
s,ap
plia
nces
, to
ols
and
wea
pons
Tex
tile
, le
athe
rm
ater
ials
, cl
othi
ng,
foot
wea
r an
d ot
her
indu
stra
l co
nsum
ergo
ods
Woo
d, p
aper
,ea
rthe
nwar
e an
dgl
ass
prod
ucts
Min
eral
prod
ucts
and
fuel
s
Che
mic
alpr
oduc
ts,
plas
tics
and
rubb
er
Bas
e m
etal
s an
dth
eir
prod
ucts
Mac
hine
s,tr
ansp
ort
faci
litie
s,ap
plia
nces
, to
ols
and
wea
pons
Tex
tile
, le
athe
rm
ater
ials
, cl
othi
ng,
foot
wea
r an
d ot
her
indu
stra
l co
nsum
ergo
ods
Woo
d, p
aper
,ea
rthe
nwar
e an
dgl
ass
prod
ucts
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
Eur
opea
n U
nion
OE
CD
EF
TA
Oth
er O
EC
D c
ount
ries
OE
CD
, to
tal
Bal
kan
coun
trie
sC
EE
CE
FT
AF
orm
er U
SSR
cou
ntri
esC
EE
, to
tal
Oth
er c
ount
ries
Tot
al
Ani
mal
and
vege
tabl
epr
oduc
ts,
food
,dr
ink
and
toba
cco
Reg
ions
Reg
ions
(%)
(%)
Tot
al
Tot
al
135
13.8
11.8
3.1
3.6
16.7
16.3
26.4
23.1
10.5
12.4
23.5
27.2
6.2
5.6
100.
010
0.0
15.4
30.7
8.7
0.9
1.7
8.6
54.7
17.7
4.1
8.9
14.0
31.7
1.4
1.5
100.
010
0.0
20.8
11.8
7.6
17.7
23.1
20.9
27.6
27.4
5.7
6.8
12.6
12.7
2.7
2.8
100.
010
0.0
15.4
12.3
4.3
6.7
17.6
17.2
27.6
23.9
9.2
11.0
20.7
24.0
5.3
4.9
100.
010
0.0
20.4
20.7
19.9
17.2
25.9
22.3
12.8
18.5
7.2
8.2
6.7
6.4
7.0
6.7
100.
010
0.0
17.4
23.9
15.2
0.5
19.5
16.3
11.4
11.0
27.5
33.5
5.5
12.3
3.6
2.5
100.
010
0.0
50.0
44.3
4.9
6.6
17.2
20.8
2.5
2.3
16.5
15.9
4.8
5.5
4.2
4.6
100.
010
0.0
36.2
35.2
11.5
9.7
20.8
21.0
7.2
8.2
13.3
14.4
5.6
6.2
5.3
5.2
100.
010
0.0
14.6
8.6
13.6
13.5
16.6
25.3
19.2
16.6
29.7
27.0
3.6
5.8
2.7
3.1
100.
010
0.0
21.9
18.9
8.3
9.0
18.4
20.0
19.6
17.5
14.1
15.2
12.8
14.8
4.8
4.6
100.
010
0.0
23.5
22.9
13.9
14.5
33.8
29.8
50.3
48.1
27.7
29.8
68.3
67.0
48.1
44.5
37.4
36.5
1.3
1.9
1.9
0.1
0.2
0.5
5.0
1.2
0.5
0.7
1.9
2.5
0.5
0.4
1.8
1.2
10.5
7.0
10.2
21.9
13.9
11.7
15.6
17.5
4.4
5.0
10.8
9.5
6.1
6.7
11.1
11.2
35.3
31.8
26.0
36.5
47.8
42.0
70.9
66.7
32.6
35.5
81.1
79.1
54.7
51.5
50.2
48.9
12.1
11.5
31.3
20.1
18.2
11.8
8.5
11.1
6.6
5.7
6.8
4.6
18.8
15.3
13.0
10.5
1.4
2.4
3.3
0.1
1.9
1.6
1.1
1.2
3.5
4.2
0.8
1.6
1.3
1.0
1.8
1.9
39.4
45.4
10.2
14.1
16.1
20.1
2.2
2.6
20.1
20.2
6.4
7.2
15.1
19.3
17.3
19.3
52.9
59.3
44.8
34.3
36.2
33.4
11.8
14.9
30.2
30.1
14.0
13.4
35.2
35.6
32.0
31.7
11.8
8.9
29.2
29.2
16.0
24.6
17.4
18.4
37.2
34.4
4.9
7.6
10.0
12.9
17.7
19.4
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
100.
010
0.0
CO
MM
OD
ITY
AN
D G
EO
GR
AP
HIC
ST
RU
CT
UR
E O
F E
XP
OR
TS
(sh
are o
f cou
ntr
iesí
exp
orts
in
com
mod
ity g
rou
ps)
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
Eur
opea
n U
nion
OE
CD
EF
TA
Oth
er O
EC
D c
ount
ries
OE
CD
, to
tal
Bal
kan
coun
trie
sC
EE
CE
FT
AF
orm
er U
SSR
cou
ntri
esC
EE
, to
tal
Oth
er c
ount
ries
Tot
al
CO
MM
OD
ITY
AN
D G
EO
GR
AP
HIC
ST
RU
CT
UR
E O
F E
XP
OR
TS
(sh
are o
f com
mod
ity g
rou
psí
exp
orts
in
grou
p o
f cou
ntr
ies)
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
1995
1996
Eur
opea
n U
nion
OE
CD
EF
TA
Oth
er O
EC
D c
ount
ries
OE
CD
, to
tal
Bal
kan
coun
trie
sC
EE
CE
FT
AF
orm
er U
SSR
cou
ntri
esC
EE
, to
tal
Oth
er c
ount
ries
Tot
al
Sour
ce:
NSI
(fi
nal
data
for
199
5) a
nd
MF
Com
puti
ng C
ente
r (p
relim
inar
y da
ta f
or 1
996)
.
Ani
mal
and
vege
tabl
epr
oduc
ts,
food
,dr
ink
and
toba
cco
Min
eral
prod
ucts
and
fuel
s
Che
mic
alpr
oduc
ts,
plas
tics
and
rubb
er
Bas
e m
etal
s an
dth
eir
prod
ucts
Mac
hine
s,tr
ansp
ort
faci
litie
s,ap
plia
nces
, to
ols
and
wea
pons
Ani
mal
and
vege
tabl
epr
oduc
ts,
food
,dr
ink
and
toba
cco
Min
eral
prod
ucts
and
fuel
s
Che
mic
alpr
oduc
ts,
plas
tics
and
rubb
er
Bas
e m
etal
s an
dth
eir
prod
ucts
Mac
hine
s,tr
ansp
ort
faci
litie
s,ap
plia
nces
, to
ols
and
wea
pons
(%)
(%)
Tex
tile
, le
athe
rm
ater
ials
, cl
othi
ng,
foot
wea
r an
d ot
her
indu
stra
l co
nsum
ergo
ods
Tot
alW
ood,
pap
er,
eart
henw
are
and
glas
s pr
oduc
ts
Tex
tile
, le
athe
rm
ater
ials
, cl
othi
ng,
foot
wea
r an
d ot
her
indu
stra
l co
nsum
ergo
ods
Tot
alW
ood,
pap
er,
eart
henw
are
and
glas
s pr
oduc
ts
Reg
ions
Reg
ions
136
-124
.113
.421
3.9
-128
.8-2
5.6
-133
.8-1
.4-2
8.5
-163
.89.
69.
644
.663
.8-3
6.7
116.
19.
689
.076
.5-1
5.4
-72.
5-1
1.4
-22.
3
-157
.8-6
.916
6.8
-159
.7-1
57.6
-151
.4-1
8.1
-41.
4-2
10.9
-2.8
-1.6
37.3
33.0
-52.
310
5.9
18.9
72.5
75.6
-17.
5-7
9.4
-21.
3-1
26.7
1560
.016
51.2
1948
.017
67.1
6926
.245
0.0
500.
952
0.6
1471
.647
0.0
455.
854
7.5
1473
.457
3.3
602.
356
4.5
1740
.258
2.9
568.
642
5.4
1577
.062
62.0
-171
7.8
-165
8.1
-178
1.2
-192
6.8
-708
3.8
-601
.5-5
19.0
-562
.0-1
682.
5-4
72.8
-457
.4-5
10.2
-144
0.4
-625
.6-4
96.5
-545
.6-1
667.
7-5
07.3
-586
.1-5
04.8
-159
8.2
-638
8.8
11.0
25.0
207.
0-1
22.0
121.
0-2
4.2
2.6
-1.9
-23.
65.
28.
468
.281
.825
.638
.814
.078
.569
.3-1
4.7
-47.
17.
614
4.3
1166
.013
29.0
1461
.013
89.0
5345
.033
0.5
403.
341
7.1
1150
.937
6.6
364.
843
0.9
1172
.340
3.5
407.
939
9.1
1210
.445
4.4
418.
231
7.6
1190
.247
23.8
-115
5.0
-130
4.0
-125
4.0
-151
1.0
-522
4.0
-354
.7-4
00.7
-419
.0-1
174.
4-3
71.3
-356
.4-3
62.7
-109
0.5
-377
.9-3
69.1
-385
.0-1
132.
0-3
85.1
-432
.9-3
64.6
-118
2.6
-457
9.5
25.7
-7.4
155.
2-2
0.1
153.
4-7
.91.
7-1
5.1
-21.
2-9
.8-1
.6-9
.8-2
1.2
43.9
81.4
33.4
158.
87.
82.
3-2
.77.
512
3.8
349.
828
8.3
450.
234
3.2
1431
.587
.983
.994
.326
6.1
84.5
81.0
108.
627
4.1
145.
417
8.5
146.
947
0.8
114.
413
5.5
96.4
346.
313
57.3
100.
411
6.2
154.
012
3.1
493.
828
.632
.029
.590
.227
.628
.941
.197
.648
.055
.739
.914
3.6
36.1
35.0
28.4
99.5
430.
885
.010
2.5
179.
510
5.9
472.
921
.821
.612
.455
.812
.819
.441
.673
.861
.481
.243
.718
6.2
25.0
25.2
22.5
72.7
388.
516
4.4
69.5
116.
711
4.2
464.
837
.630
.252
.412
0.2
44.2
32.7
25.9
102.
736
.141
.663
.314
1.0
53.3
75.3
45.5
174.
153
8.0
-324
.1-2
95.7
-295
.0-3
63.3
-127
8.0
-95.
8-8
2.2
-109
.3-2
87.3
-94.
3-8
2.6
-118
.4-2
95.3
-101
.5-9
7.1
-113
.4-3
12.0
-106
.5-1
33.2
-99.
0-3
38.8
-123
3.4
-122
.4-1
35.1
-126
.5-1
47.0
-531
.1-3
6.3
-38.
0-4
1.7
-115
.9-3
9.7
-36.
3-3
7.4
-113
.4-4
1.4
-41.
3-4
0.1
-122
.8-3
9.5
-44.
5-3
8.4
-122
.5-4
74.6
-52.
4-5
1.9
-47.
5-4
3.3
-195
.1-1
4.2
-10.
1-1
3.9
-38.
2-1
7.5
-14.
1-1
4.9
-46.
5-1
9.8
-22.
2-1
8.2
-60.
2-1
8.1
-18.
1-1
7.3
-53.
6-1
98.4
-149
.3-1
08.6
-121
.0-1
73.0
-551
.9-4
5.4
-34.
1-5
3.7
-133
.2-3
7.2
-32.
2-6
6.1
-135
.5-4
0.4
-33.
5-5
5.1
-129
.1-4
8.9
-70.
5-4
3.3
-162
.8-5
60.5
-194
.5-2
4.5
-195
.4-1
7.6
-432
.0-1
19.3
-22.
4-2
4.4
-166
.21.
8-8
.4-2
1.0
-27.
6-1
21.8
-14.
4-2
8.6
-164
.8-1
.6-5
.1-2
9.7
-36.
3-3
94.9
44.2
33.9
36.8
34.9
149.
831
.713
.79.
354
.68.
910
.08.
026
.924
.415
.918
.658
.914
.114
.911
.540
.518
1.0
15.6
20.2
23.2
19.0
78.0
4.7
0.7
6.3
11.7
4.0
4.3
4.2
12.5
2.2
2.4
2.3
6.8
1.2
1.3
1.2
3.7
34.7
0.0
0.0
0.0
0.0
0.0
23.5
0.0
0.0
23.5
0.0
0.0
0.0
0.0
19.2
0.0
3.1
22.3
0.0
0.0
0.0
0.0
45.8
28.5
13.7
13.6
15.9
71.8
3.5
13.0
3.0
19.4
4.9
5.7
3.9
14.5
3.0
2.0
5.3
10.3
3.9
6.2
4.7
14.8
59.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11.6
7.8
19.5
9.0
7.4
5.6
22.0
41.4
-238
.7-5
8.5
-232
.2-5
2.5
-581
.8-1
50.9
-36.
1-3
3.7
-220
.8-7
.1-1
8.4
-29.
1-5
4.6
-146
.2-3
0.3
-47.
1-2
23.7
-15.
7-1
9.9
-41.
2-7
6.8
-575
.8-1
5.1
-14.
2-1
4.0
-10.
7-5
4.0
0.0
-8.6
0.0
-8.6
0.0
-6.8
0.0
-6.8
0.0
-6.9
0.0
-6.9
0.0
-7.2
0.0
-7.2
-29.
5-2
12.8
-34.
5-2
10.2
-37.
6-4
95.1
-139
.3-1
6.8
-31.
1-1
87.2
-2.9
-5.5
-26.
5-3
4.9
-142
.3-1
6.6
-31.
9-1
90.8
-1.6
-3.2
-19.
8-2
4.6
-437
.5-1
0.8
-9.8
-8.0
-4.2
-32.
7-1
1.6
-10.
7-2
.6-2
5.0
-4.2
-6.1
-2.6
-12.
9-3
.9-3
.8-6
.1-1
3.9
-3.6
-2.9
-17.
0-2
3.6
-75.
30.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0-3
.0-9
.1-1
2.1
-10.
5-6
.6-4
.3-2
1.4
-33.
5
33.7
20.3
47.1
30.8
132.
017
.616
.712
.947
.112
.311
.27.
330
.815
.610
.2-9
.316
.50.
92.
16.
99.
910
4.4
68.0
50.6
85.9
52.3
256.
924
.926
.122
.373
.222
.317
.217
.056
.525
.317
.910
.653
.814
.015
.718
.548
.223
1.8
7.9
0.0
1.4
5.6
15.0
1.2
1.3
1.0
3.5
0.6
0.7
0.5
1.9
0.1
10.6
0.1
10.9
3.7
8.3
8.7
20.7
37.0
60.1
50.6
84.5
46.7
241.
923
.724
.821
.369
.721
.616
.516
.554
.625
.27.
310
.543
.010
.37.
49.
827
.519
4.8
-34.
3-3
0.3
-38.
8-2
1.5
-124
.9-7
.3-9
.4-9
.4-2
6.1
-10.
0-6
.0-9
.7-2
5.7
-9.7
-7.7
-19.
9-3
7.3
-13.
1-1
3.7
-11.
6-3
8.4
-127
.40.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0-0
.1-0
.10.
00.
0-0
.1-0
.2-3
4.3
-30.
3-3
8.8
-21.
5-1
24.9
-7.3
-9.4
-9.4
-26.
1-1
0.0
-6.0
-9.7
-25.
7-9
.7-7
.7-1
9.8
-37.
3-1
3.0
-13.
7-1
1.6
-38.
3-1
27.2
65.6
-82.
3-3
08.4
211.
4-1
13.8
307.
04.
0-1
15.1
195.
911
.7-9
7.7
-19.
1-1
05.1
173.
0-1
03.2
-47.
322
.5-4
0.6
-13.
9-7
8.9
-133
.3-2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
65.9
0.0
0.0
65.9
0.0
0.0
0.0
0.0
65.9
Cur
rent
acc
ount
1
Goo
ds, s
ervi
ces
and
inco
me,
net
C
redi
t
Deb
it
Goo
ds, n
et 2
, 14
C
redi
t
Deb
it
Serv
ices
, net
C
redi
t
Tra
nspo
rtat
ion3
T
rave
l4
O
ther
ser
vice
s
D
ebit
T
rans
port
atio
n3
T
rave
l4
O
ther
ser
vice
s
Inco
me,
net
5
C
redi
t
Mon
etar
y au
thor
ities
G
ener
al g
over
nmen
t
Ban
ks
Oth
er s
ecto
rs
D
ebit
M
onet
ary
auth
oriti
es
Gen
eral
gov
ernm
ent
B
anks
O
ther
sec
tors
C
urre
nt tr
ansf
ers,
net
C
redi
t
Gen
eral
gov
ernm
ent6
O
ther
sec
tors
D
ebit
G
ener
al g
over
nmen
t
Oth
er s
ecto
rs
Cap
ital a
nd f
inan
cial
acc
ount
1, 7
Cap
ital a
ccou
nt
BA
LA
NC
E O
F P
AY
ME
NT
S(m
illio
n U
SD)
Indi
cato
rsQ
1Q
2Q
3Q
4T
otal
Jan.
Feb
.M
arch
Q1
Apr
ilM
ayJu
neQ
2Ju
lyA
ug.
Sep.
Q3
Oct
.N
ov.
Dec
.Q
4T
otal
(con
tinu
ed)
1995
1996
137
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
65.9
0.0
0.0
65.9
0.0
0.0
0.0
0.0
65.9
65.6
-82.
3-3
08.4
211.
4-1
13.8
307.
04.
0-1
15.1
195.
911
.7-9
7.7
-19.
1-1
05.1
107.
1-1
03.2
-47.
3-4
3.4
-40.
6-1
3.9
-78.
9-1
33.3
-86.
0
66.6
10.0
12.9
8.9
98.4
32.8
6.4
18.1
57.3
2.2
9.2
1.1
12.5
5.7
5.6
0.5
11.8
19.6
27.3
6.0
52.9
134.
40.
00.
04.
13.
98.
021
.0-0
.10.
821
.7-0
.2-0
.7-0
.1-0
.9-0
.2-0
.1-0
.2-0
.5-0
.1-0
.60.
3-0
.319
.966
.610
.08.
85.
090
.411
.86.
517
.335
.62.
49.
81.
213
.45.
95.
70.
712
.319
.627
.95.
753
.211
4.5
-13.
4-1
7.0
-5.9
-29.
4-6
5.8
-2.7
12.0
-46.
4-3
7.1
-11.
5-8
.1-0
.2-1
9.8
-125
.86.
0-7
.1-1
27.0
37.6
-2.3
-18.
516
.8-1
67.0
0.0
0.0
-3.6
13.3
9.7
-0.3
7.0
-19.
1-1
2.4
-7.6
-17.
6-6
.5-3
1.7
-12.
0-5
.8-5
.2-2
3.0
23.3
-1.2
-1.3
20.8
-46.
3-1
3.4
-17.
0-2
.3-4
2.7
-75.
4-2
.55.
0-2
7.2
-24.
6-4
.09.
56.
311
.9-1
13.8
11.7
-1.9
-103
.914
.3-1
.1-1
7.1
-4.0
-120
.7
134.
729
6.5
-379
.035
.187
.3-2
.5-1
10.7
-303
.1-4
16.3
5.5
-126
.1-4
6.9
-167
.413
2.9
-46.
1-1
17.3
-30.
5-7
8.4
-39.
3-7
2.6
-190
.3-8
04.6
75.8
223.
6-6
4.5
169.
240
4.2
0.9
-118
.6-2
07.8
-325
.5-1
.6-1
62.5
-1.9
-166
.037
.5-9
5.1
-40.
1-9
7.8
-39.
7-2
6.5
-4.6
-70.
8-6
60.1
-0.1
-0.1
-0.3
-0.3
0.0
-0.6
-0.7
63.9
72.0
76.4
80.3
292.
624
.040
.624
.889
.326
.125
.027
.578
.626
.838
.126
.090
.926
.726
.627
.380
.633
9.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
63.9
72.0
76.4
80.3
292.
624
.140
.624
.889
.526
.225
.027
.578
.726
.838
.126
.090
.927
.026
.627
.180
.733
9.8
63.9
72.0
76.4
80.3
292.
624
.140
.624
.889
.526
.225
.027
.578
.726
.838
.126
.090
.927
.026
.627
.180
.733
9.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.2
0.0
0.0
-0.2
-0.1
0.0
0.0
-0.1
0.0
0.0
0.0
0.0
-0.2
0.0
0.0
-0.2
-0.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.2
0.0
0.0
-0.2
-0.1
0.0
0.0
-0.1
0.0
0.0
0.0
0.0
-0.2
0.0
0.0
-0.2
-0.5
0.0
0.0
0.0
0.0
0.2
0.2
0.2
11.9
151.
6-1
36.1
144.
017
1.4
45.7
22.5
-49.
318
.926
.478
.830
.013
5.1
21.9
-116
.728
.9-6
5.9
23.3
24.5
-35.
312
.510
0.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11.9
151.
6-1
36.1
144.
017
1.4
45.7
22.5
-49.
318
.926
.478
.830
.013
5.1
21.9
-116
.731
.5-6
3.3
-26.
032
.1-2
8.7
-22.
668
.2-2
.6-2
.649
.3-7
.6-6
.635
.032
.40.
00.
0-4
.7-5
5.1
-59.
9-6
2.1
0.0
-9.6
-71.
7-1
0.2
-1.6
-1.4
-13.
3-1
7.9
0.0
-1.3
-19.
20.
00.
012
.112
.1-9
2.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-23.
50.
00.
0-2
3.5
0.0
0.0
0.0
0.0
-19.
20.
0-3
.1-2
2.3
0.0
0.0
0.0
0.0
-45.
80.
00.
0-4
.7-5
5.1
-59.
9-3
8.6
0.0
-9.6
-48.
2-1
0.2
-1.6
-1.4
-13.
31.
30.
01.
83.
10.
00.
012
.112
.1-4
6.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-4.7
-55.
1-5
9.9
-38.
60.
0-9
.6-4
8.2
-10.
2-1
.6-1
.4-1
3.3
1.3
0.0
1.8
3.1
0.0
0.0
12.1
12.1
-46.
30.
00.
00.
00.
00.
0-6
.7-1
81.6
-173
.7-3
62.0
-43.
9-2
64.6
-57.
9-3
66.4
6.6
-16.
5-9
3.7
-103
.6-8
9.4
-77.
3-8
.6-1
75.3
-100
7.3
58.8
72.9
-314
.5-1
34.1
-316
.9-3
.37.
8-9
5.3
-90.
77.
236
.4-4
5.0
-1.5
95.4
49.0
-77.
167
.3-3
8.7
-12.
8-6
8.1
-119
.5-1
44.5
0.6
0.6
-0.5
0.2
0.0
-0.3
0.2
-24.
8-7
8.8
-100
.9-1
02.0
-306
.4-2
0.4
-16.
9-9
4.3
-131
.6-1
0.2
10.6
-97.
2-9
6.8
90.5
33.2
-90.
832
.9-4
7.8
-18.
3-3
7.4
-103
.4-2
98.9
-42.
0-6
0.8
-65.
3-7
2.1
-240
.1-7
.5-5
.7-6
1.4
-74.
6-7
.5-1
.9-4
6.6
-55.
910
3.4
-5.6
-37.
560
.3-7
.5-1
.9-2
8.3
-37.
7-1
07.9
-42.
0-6
0.8
-65.
3-7
2.1
-240
.1-7
.5-5
.7-6
1.4
-74.
6-7
.5-1
.9-4
6.6
-55.
910
3.4
-5.6
-37.
560
.3-7
.5-1
.9-2
8.3
-37.
7-1
07.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
116.
70.
00.
011
6.7
0.0
0.0
0.0
0.0
116.
7-4
2.0
-60.
8-6
5.3
-72.
1-2
40.1
-7.5
-5.7
-61.
4-7
4.6
-7.5
-1.9
-46.
6-5
5.9
-13.
3-5
.6-3
7.5
-56.
4-7
.5-1
.9-2
8.3
-37.
7-2
24.6
C
apita
l tra
nsfe
rs, n
et
Fin
anci
al a
ccou
nt
D
irec
t inv
estm
ent
A
broa
d
In
repo
rtin
g co
untr
y8
P
ortf
olio
inve
stm
ent
A
sset
s
Lia
bilit
ies
O
ther
inve
stm
ent
A
sset
s
Tra
de c
redi
ts, n
et
Loa
ns
M
onet
ary
auth
oriti
es
Lon
g-te
rm
Shor
t-te
rm
G
ener
al g
over
nmen
t9
L
ong-
term
Sh
ort-
term
Ban
ks
Lon
g-te
rm
Shor
t-te
rm
O
ther
sec
tors
C
urre
ncy
and
depo
sits
Mon
etar
y au
thor
ities
Gen
eral
gov
ernm
ent
Ban
ks
O
ther
sec
tors
O
ther
ass
ets
Mon
etar
y au
thor
ities
Gen
eral
gov
ernm
ent
Ban
ks
Lon
g-te
rm
Shor
t-te
rm
Oth
er10
L
iabi
litie
s
Tra
de c
redi
ts, n
et
Loa
ns
M
onet
ary
auth
oriti
es
U
se o
f IM
F c
redi
ts, n
et
D
raw
ings
Rep
aym
ents
(con
tinu
ed)
(con
tinu
ed)
(mill
ion
USD
)
Indi
cato
rsQ
1Q
2Q
3Q
4T
otal
Jan.
Feb
.M
arch
Q1
Apr
ilM
ayJu
neQ
2Ju
lyA
ug.
Sep.
Q3
Oct
.N
ov.
Dec
.Q
4T
otal
1995
1996
138
35.8
-2.3
-21.
4-1
4.0
-1.9
-8.4
-7.7
-23.
9-4
0.0
2.8
25.5
-1.7
26.6
-6.0
42.0
-14.
621
.4-1
.328
.3-3
.523
.531
.535
.8-2
.3-2
1.4
-14.
0-1
.9-8
.4-7
.7-2
3.9
-40.
02.
825
.5-1
.726
.6-6
.042
.0-1
4.6
21.4
-1.3
28.3
-3.5
23.5
31.5
51.9
8.1
4.1
0.3
64.4
0.7
3.6
4.4
8.7
8.7
29.8
1.3
39.8
1.3
53.1
0.7
55.1
4.2
32.4
0.9
37.5
141.
1-1
6.1
-10.
4-2
5.5
-14.
3-6
6.3
-9.1
-11.
3-2
8.3
-48.
7-5
.9-4
.3-3
.0-1
3.2
-7.3
-11.
1-1
5.3
-33.
7-5
.5-4
.1-4
.4-1
4.0
-109
.6-1
8.5
-15.
7-1
4.2
-16.
0-6
4.4
-4.5
-3.5
-9.0
-17.
0-1
0.3
-13.
0-4
8.9
-72.
3-6
.9-0
.2-5
.1-1
2.3
1.2
-5.7
-7.8
-12.
3-1
13.9
-14.
2-1
0.7
-9.4
-17.
6-5
1.9
-5.6
-2.3
-2.4
-10.
3-7
.7-8
.8-4
9.3
-65.
8-5
.6-0
.8-1
.8-8
.2-2
.3-5
.6-7
.8-1
5.7
-100
.10.
00.
42.
30.
63.
31.
20.
00.
01.
20.
50.
30.
00.
90.
01.
50.
52.
00.
00.
00.
00.
04.
1-1
4.2
-11.
1-1
1.7
-18.
3-5
5.2
-6.8
-2.3
-2.4
-11.
5-8
.3-9
.2-4
9.3
-66.
7-5
.6-2
.3-2
.3-1
0.2
-2.3
-5.6
-7.8
-15.
7-1
04.2
-4.3
-5.0
-4.8
1.7
-12.
41.
1-1
.2-6
.6-6
.7-2
.6-4
.20.
3-6
.5-1
.30.
6-3
.3-4
.13.
50.
00.
03.
4-1
3.8
0.0
0.0
0.0
0.0
4.8
0.0
0.0
4.8
0.0
-3.0
-33.
6-3
6.5
-40.
2-3
9.0
2.3
-76.
9-1
08.6
-10.
114
.1-4
3.0
9.2
-29.
89.
97.
0-6
.310
.56.
412
.91.
821
.1-0
.76.
56.
512
.3-0
.90.
85.
04.
948
.80.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0-1
0.1
14.1
-43.
09.
2-2
9.8
9.9
7.0
-6.3
10.5
6.4
12.9
1.8
21.1
-0.7
6.5
6.5
12.3
-0.9
0.8
5.0
4.9
48.8
9.5
2.0
11.0
10.5
33.0
7.2
17.8
5.4
30.4
11.0
12.9
50.4
74.3
5.6
9.3
6.6
21.5
10.5
4.5
-35.
8-2
0.7
105.
40.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
09.
52.
011
.010
.533
.07.
217
.85.
430
.411
.012
.950
.474
.35.
69.
36.
621
.510
.54.
5-3
5.8
-20.
710
5.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
9.5
2.0
11.0
10.5
33.0
7.2
17.8
5.4
30.4
11.0
12.9
50.4
74.3
5.6
9.3
6.6
21.5
10.5
4.5
-35.
8-2
0.7
105.
484
.213
5.6
-181
.6-5
1.8
-13.
60.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0
-122
.3-3
71.8
63.6
196.
8-2
33.7
279.
496
.421
6.2
592.
015
.427
.326
.969
.694
.4-6
8.6
76.5
102.
3-1
9.3
0.4
6.2
-12.
775
1.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11.2
-0.4
-3.0
-22.
5-1
4.7
8.2
13.2
2.9
24.3
-7.0
8.3
-9.6
-8.3
0.8
12.2
-8.3
4.7
7.4
0.2
-10.
5-2
.917
.80.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0-1
33.5
-371
.466
.621
9.3
-219
.027
1.2
83.2
213.
356
7.7
22.4
19.0
36.5
77.9
93.6
-80.
884
.897
.6-2
6.7
0.2
16.7
-9.8
733.
4
58.5
68.9
94.5
-82.
513
9.4
-173
.2-2
.614
3.7
-32.
1-2
1.2
88.1
-25.
641
.3-1
36.3
-12.
937
.7-1
11.5
-36.
029
.315
1.4
144.
742
.4
Gen
eral
gov
ernm
ent
Lon
g-te
rm lo
ans
Dra
win
gs
R
epay
men
ts
B
anks
Lon
g-te
rm lo
ans
Dra
win
gs13
Rep
aym
ents
Sho
rt-t
erm
loan
s
O
ther
sec
tors
C
urre
ncy
and
depo
sits
Mon
etar
y au
thor
ities
Gen
eral
gov
ernm
ent
Ban
ks 11
O
ther
liab
ilitie
s
M
onet
ary
auth
oriti
es
G
ener
al g
over
nmen
t
B
anks
Lon
g-te
rm
S
hort
-ter
m 13
O
ther
12
B
NB
res
erve
s (i
ncre
ase:
-)
Mon
etar
y go
ld
Spe
cial
dra
win
g ri
ghts
R
eser
ve p
ositi
on in
the
Fun
d
For
eign
exc
hang
e re
serv
es
Err
ors
and
omm
issi
ons
1 P
relim
inar
y da
ta f
or 1
996.
2 F
orei
gn t
rade
dat
a ba
sed
on c
usto
ms
decl
arat
ions
. N
SI d
ata
for
1995
.
D
ata
for
1996
is
prov
ided
by
the
MF
Com
puti
ng C
ente
r an
d ad
just
ed b
y th
e B
NB
wit
h es
tim
ates
bas
ed o
n ad
diti
onal
inf
orm
atio
n fr
om t
he C
usto
ms
Hea
d O
ffic
e. 3
Incl
udes
pas
seng
er t
rans
port
est
imat
ed b
y th
e B
NB
. 4
Dat
a is
pro
vide
d by
the
NSI
and
est
imat
ed b
y th
e B
NB
. 5
The
dat
a is
on
a ca
sh b
asis
. In
tere
st p
aym
ents
are
on
a du
e ba
sis.
6 B
ased
on
data
pro
vide
d by
the
Age
ncy
for
For
eign
Aid
. 7
For
ass
ets,
a n
egat
ive
sign
sho
ws
an i
ncre
ase
and
a po
siti
ve f
igur
e sh
ows
a de
crea
se.
F
or l
iabi
litie
s, a
pos
itiv
e si
gn s
how
s an
inc
reas
e an
d a
nega
tive
fig
ure
show
s a
decr
ease
. 8
Min
istr
y of
Fin
ance
dat
a. 9
Incl
udes
rep
aym
ents
(ga
s de
liver
ies)
fro
m R
ussi
a un
der
the
Yam
burg
Agr
eem
ent.
10 In
clud
es c
hang
e in
ind
ivid
uals
and
pri
vate
com
pani
esí
fore
ign
exch
ange
dep
osit
s an
d ot
her
shor
t-te
rm c
apit
al.
11 In
clud
es c
lear
ing
acco
unt
wit
h fo
rmer
CO
ME
CO
N c
ount
ries
.12
Incl
udes
unc
lass
ifie
d ca
pita
l fo
r 19
95.
13 In
clud
es r
esch
edul
ed p
aym
ents
and
arr
ears
of
com
mer
cial
ban
ks t
o no
nres
iden
ts.
14 S
ettl
emen
t da
ta r
epor
ted
by c
omm
erci
al b
anks
:(m
illio
n U
SD)
G
oods
, net
78.8
82.7
140.
4-1
19.8
182.
1-1
16.1
-47.
3-8
.7-1
72.2
61.9
14.4
-76.
4-0
.1-2
3.0
59.2
68.6
104.
875
.816
.563
.015
5.3
87.9
Cre
dit
2022
.222
38.8
2127
.921
02.5
8491
.546
7.2
464.
050
2.4
1433
.654
1.2
416.
234
3.7
1301
.135
2.3
343.
734
3.7
1039
.635
5.2
301.
832
1.4
978.
547
52.7
Deb
it-1
943.
4-2
156.
1-1
987.
5-2
222.
3-8
309.
4-5
83.3
-511
.3-5
11.1
-160
5.8
-479
.3-4
01.8
-420
.1-1
301.
2-3
75.3
-284
.4-2
75.0
-934
.8-2
79.4
-285
.4-2
58.4
-823
.1-4
664.
9
Sour
ce:
BN
B.
(con
tinu
ed)
(mill
ion
USD
)
Indi
cato
rsQ
1Q
2Q
3Q
4T
otal
Jan.
Feb
.M
arch
Q1
Apr
ilM
ayJu
neQ
2Ju
lyA
ug.
Sep.
Q3
Oct
.N
ov.
Dec
.Q
4T
otal
1995
1996
139
FOREIGN DEBT SERVICE IN 1996
(million USD)
Indicators 1996 1
GROSS FOREIGN DEBT (A + B)2 1048.8A. Long-term debt 1020.2 I. Official creditors 501.8 1. International financial institutions 326.7 IMF 254.0 World Bank 41.0 EU, EIB, EBRD 31.7 2. Bilateral credits 175.2 Paris Club and nonrescheduled debt 157.0 Other bilateral credits 18.2 II. Private creditors 518.4 Brady bonds 262.0 Bonds (Bulbank) 222.8 Commercial banks 27.5 Other private creditors 6.1B. Short-term debt3 28.51 Preliminary data.2 In convertible currencies. Sources: BNB, MF, Bulbank.3 Including payments on commercial banksí short-term debt, former COMECON creditors and other private creditors.
Source: BNB.
GROSS FOREIGN DEBT
(million USD)
Indicators 1991 1992 1993 1994 1995 1996 1
GROSS FOREIGN DEBT (A + B)2 12301.1 13857.7 13889.4 11411.4 10229.2 9655.2A. Long-term debt 2676.0 3167.0 3256.6 9267.9 8841.3 8281.6 Public and publicly guaranteed 2274.0 2658.0 2740.0 8755.0 8499.7 8089.0 Nonguaranteed 402.0 509.0 516.6 512.9 341.6 192.6 I. Official creditors 1872.0 2256.0 2338.0 3216.0 3084.6 2957.7 1. International financial institutions 744.0 1099.0 1157.0 1825.0 1657.1 1714.4 IMF 401.0 590.0 632.0 941.0 716.7 584.5 World Bank 142.0 152.0 155.0 396.0 410.6 455.8 EU 201.0 357.0 357.0 444.0 460.6 495.5 EIB, EBRD3 0.0 0.0 13.0 44.0 69.2 178.6 2. Bilateral credits 1128.0 1157.0 1181.0 1391.0 1427.5 1243.3 Paris Club and nonrescheduled debt 1128.0 1095.0 1100.0 1240.0 1237.6 1034.5 Other bilateral credits 0.0 62.0 81.0 151.0 189.9 208.8 II. Private creditors 804.0 911.0 918.6 6051.9 5756.7 5323.9 Brady bonds 0.0 0.0 0.0 5137.0 5005.4 4984.0 Bonds (Bulbank) 402.0 402.0 402.0 402.0 409.7 147.2 Commercial banks 402.0 509.0 511.0 479.0 273.3 113.3 Other private creditors - - 5.6 33.9 68.3 79.3B. Short-term debt 9625.1 10690.7 10632.8 2143.5 1387.9 1373.6 Public and publicly guaranteed 8147.0 9289.9 9550.8 1660.5 915.9 1030.7 Nonguaranteed 1478.1 1400.7 1082.1 482.9 472.0 342.9 I. Former COMECON creditors 1276.0 1260.9 1235.8 1660.5 915.9 981.0 II. Commercial banks4 6871.0 8029.0 8315.0 26.0 201.1 184.6 III. Other private creditors5 1478.1 1400.7 1082.1 457.0 270.9 208.11 Preliminary data.2 In convertible currencies. Sources: BNB, MF, Bulbank.3 Debt to EIB and EBRD.4 Including commercial banksí principal and interest arrears.5 Including nonresidentsí deposits with local commercial banks.
DEBT INDICATORS
(%)
Indicators 1991 1992 1993 1994 1995 1996
Short-term debt/gross foreign debt 78.2 77.1 76.6 18.8 13.6 14.2Gross foreign debt/GDP 161.9 161.1 131.0 118.9 78.7 99.1Short-term debt/GDP 126.6 124.3 100.3 22.3 10.7 14.1Gross foreign debt/exports1 297.4 275.7 283.6 219.8 151.0 158.8Foreign debt service/GDP2 3.2 5.1 4.0 15.1 7.3 10.8Foreign debt service/exports1, 2 5.8 8.8 8.7 27.9 13.9 17.2
1 Exports of goods and services.2 Principal and interest repayments.
Source: BNB.
140
CO
NS
OL
IDA
TE
D S
TA
TE
BU
DG
ET
Con
soli
date
d St
ate
Bud
get
Gen
eral
Gov
ernm
ent
Bud
get3
Leg
al I
nsti
tuti
ons
Indi
cato
rs31
Dec
embe
r 19
9531
Dec
embe
r 19
9631
Dec
embe
r 19
9531
Dec
embe
r 19
9631
Dec
embe
r 19
9531
Dec
embe
r 19
96
Rep
orti
ng,
% o
fR
epor
ting
,%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
mil
lion
BG
LG
DP
1m
illi
on B
GL
GD
P2
mil
lion
BG
Lsh
are
GD
P1
mil
lion
BG
Lsh
are
GD
P2
mil
lion
BG
Lsh
are
GD
P1
mil
lion
BG
Lsh
are
GD
P2
Net
rev
enue
Net
exp
endi
ture
Loa
ns e
xten
ded
from
PR
UF
Gov
ernm
ent
tran
sfer
sB
udge
t de
fici
t
Fin
anci
ng,
net
For
eign
fin
anci
ng,
net
Dom
esti
c fi
nanc
ing,
net
Ope
rati
ons
in g
over
nmen
tse
curi
ties
, ne
tD
irec
t fi
nanc
ing
from
fina
ncia
l in
stit
utio
ns,
net
BN
B,
net
Lon
g-te
rm l
oans
Rep
aym
ents
Tem
pora
ry l
oans
Rep
aym
ents
Bal
ance
s on
acc
ount
sB
alan
ces
on d
epos
it a
ccou
nts
Bal
ance
s fr
om p
ast
peri
ods
Oth
er b
anks
and
fin
anci
alin
stit
utio
ns,
net
Cre
dits
ext
ende
dR
epay
men
tsL
oans
rep
aid
from
reg
iona
lm
unic
ipal
cou
ncil
sR
esou
rces
on
acco
unts
, ne
tB
alan
ces
from
pas
t pe
riod
sB
alan
ces
on a
ccou
nts
Oth
er f
inan
cing
Issu
e of
mun
icip
al b
onds
(con
tinu
ed)
3283
28.7
37.7
5794
93.4
34.9
1974
07.4
60.1
22.7
3499
79.4
60.4
21.1
2206
.50.
70.
339
02.2
0.7
0.2
3779
23.3
43.4
7633
79.2
46.0
2175
82.6
57.6
25.0
4976
41.3
65.2
30.0
2605
.60.
70.
341
19.0
0.5
0.2
0.0
0.0
0.0
3775
2.1
4.3
4408
3.0
2.7
-583
.20.
1-3
65.0
0.0
-495
94.5
5.7
-183
885.
711
.1-5
7927
.36.
6-1
9174
4.9
11.6
184.
10.
014
8.2
0.0
4959
4.4
5.7
1838
85.8
11.1
5792
7.3
6.6
1917
44.9
11.6
-184
.10.
0-1
48.2
0.0
-117
13.4
1.3
-501
08.3
3.0
-117
13.4
1.3
-501
08.3
3.0
0.0
0.0
6130
7.8
7.0
2339
94.1
14.1
6964
0.6
8.0
2418
53.2
14.6
-184
.10.
0-1
48.2
0.0
6993
8.6
1464
09.1
6993
8.6
1464
09.1
-899
6.2
8668
7.5
-298
.094
498.
0-1
84.1
-148
.2-3
832.
177
573.
128
.894
992.
3-1
84.1
59.7
0.0
1150
00.0
0.0
1150
00.0
0.0
0.0
-401
3.3
-299
0.7
-401
3.3
-299
0.7
0.0
0.0
1900
0.0
1180
89.0
1900
0.0
1180
89.0
0.0
0.0
-190
00.0
-118
089.
0-1
9000
.0-1
1808
9.0
0.0
0.0
-889
9.7
-433
36.0
-371
2.7
-207
29.7
-184
.1-1
24.4
0.0
0.0
0.0
0.0
0.0
0.0
9080
.988
99.8
7754
.837
12.7
0.0
184.
1
-516
4.1
9114
.4-3
26.8
-494
.30.
0-2
07.9
3.8
0.0
2.4
0.0
0.0
0.0
-787
.4-4
73.0
-473
.0-4
73.0
0.0
0.0
143.
848
.614
3.8
48.6
0.0
0.0
-452
4.3
9538
.80.
0-6
9.9
0.0
-207
.959
44.3
1046
8.6
0.0
0.0
0.0
0.0
-104
68.6
-929
.80.
0-6
9.9
0.0
-207
.923
9.3
897.
50.
094
6.1
0.0
0.0
126.
10.
0
141
(con
tinu
ed)
Soci
al S
ecur
ity
Mun
icip
al C
ounc
ils
Ext
rabu
dget
ary
Acc
ount
s
Indi
cato
rs31
Dec
embe
r 19
9531
Dec
embe
r 19
9631
Dec
embe
r 19
9531
Dec
embe
r 19
9631
Dec
embe
r 19
9531
Dec
embe
r 19
96
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
Rep
orti
ng,
Per
c.%
of
mil
lion
BG
Lsh
are
GD
P1
mil
lion
BG
Lsh
are
GD
P2
mil
lion
BG
Lsh
are
GD
P1
mil
lion
BG
Lsh
are
GD
P2
mil
lion
BG
Lsh
are
GD
P1
mil
lion
BG
Lsh
are
GD
P2
Net
rev
enue
Net
exp
endi
ture
Loa
ns e
xten
ded
from
PR
UF
Gov
ernm
ent
tran
sfer
sB
udge
t de
fici
t
Fin
anci
ng,
net
For
eign
fin
anci
ng,
net
Dom
esti
c fi
nanc
ing,
net
Ope
rati
ons
in g
over
nmen
tse
curi
ties
, ne
tD
irec
t fi
nanc
ing
from
fina
ncia
l in
stit
utio
ns,
net
BN
B,
net
Lon
g-te
rm l
oans
Rep
aym
ents
Tem
pora
ry l
oans
Rep
aym
ents
Bal
ance
s on
acc
ount
sB
alan
ces
on d
epos
it a
ccou
nts
Bal
ance
s fr
om p
ast
peri
ods
Oth
er b
anks
and
fin
anci
alin
stit
utio
ns,
net
Cre
dits
ext
ende
dR
epay
men
tsL
oans
rep
aid
from
reg
iona
lm
unic
ipal
cou
ncil
sR
esou
rces
on
acco
unts
, ne
tB
alan
ces
from
pas
t pe
riod
sB
alan
ces
on a
ccou
nts
Oth
er f
inan
cing
Issu
e of
mun
icip
al b
onds
1 G
DP
for
199
5 us
ed i
n th
e ta
ble
is B
GL
867
.7 b
illio
n.2 G
DP
for
199
6 us
ed i
n th
e ta
ble
is B
GL
166
0.2
billi
on.
3 G
ener
al g
over
nmen
t bu
dget
inc
lude
s ce
ntra
l go
vern
men
t bu
dget
, bu
dget
s of
min
istr
ies
and
agen
cies
, bu
dget
s of
reg
iona
l m
unic
ipal
cou
ncils
, an
d th
e bu
dget
of
the
Nat
iona
l A
udit
Cha
mbe
r.
Sour
ce:
BN
B.
7380
5.4
22.5
8.5
1312
49.8
22.6
7.9
3845
6.0
11.7
4.4
7422
1.9
12.8
4.5
1645
3.4
5.0
1.9
2014
0.1
3.5
1.2
8164
1.6
21.6
9.4
1380
05.8
18.1
8.3
6692
5.6
17.7
7.7
1107
83.3
14.5
6.7
9167
.92.
41.
112
829.
81.
70.
80.
00.
00.
00.
0-8
587.
01.
0-6
777.
70.
4-2
8581
.93.
3-3
6940
.32.
20.
00.
00.
075
0.9
0.1
21.7
0.0
112.
30.
037
8.9
0.0
7285
.50.
873
10.3
0.4
-750
.90.
1-2
1.7
0.0
-112
.30.
0-3
78.9
0.0
-728
5.5
0.8
-731
0.3
0.4
0.0
0.0
0.0
0.0
0.0
0.0
-750
.90.
1-2
1.7
0.0
-112
.30.
0-3
78.9
0.0
-728
5.5
0.8
-731
0.3
0.4
-750
.9-2
1.7
-477
.7-3
30.3
-728
5.5
-731
0.3
-750
.9-2
1.7
0.0
0.0
-292
5.9
-174
57.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-103
6.4
-105
8.2
0.0
0.0
-396
6.5
-214
23.7
0.0
0.0
0.0
0.0
0.0
0.0
285.
510
36.5
0.0
0.0
1040
.639
66.5
0.0
0.0
-477
.7-3
30.3
-435
9.6
1014
6.9
0.0
0.0
1.4
0.0
0.0
0.0
0.0
0.0
-314
.40.
00.
00.
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-164
.7-3
30.3
-435
9.6
1014
6.9
0.0
0.0
157.
032
1.7
5787
.310
146.
90.
00.
0-3
21.7
-652
.0-1
0146
.90.
00.
00.
023
9.3
-48.
612
6.1
142
CA
SH
BA
SIS
RE
PO
RT
ING
OF
TH
E G
EN
ER
AL
GO
VE
RN
ME
NT
BU
DG
ET
Indi
cato
rsSt
ate
Rep
orti
ng%
of
% o
fB
udge
t L
aw,
as o
f 31
Dec
.,th
e L
awG
DP
mil
lion
BG
Lm
illi
on B
GL
Stat
eR
epor
ting
% o
f%
of
Bud
get
Law
,as
of
31 D
ec.,
the
Law
GD
Pm
illi
on B
GL
mil
lion
BG
L
1995
1996
I. T
otal
rev
enue
1. T
ax r
even
ue
in
clud
ing:
corp
orat
e ta
x fr
om f
inan
cial
ins
titu
tion
s
co
rpor
ate
tax
from
non
fina
ncia
l in
stit
utio
ns
cu
stom
s du
ties
and
fee
s
V
AT
2. N
onta
x re
venu
e
in
clud
ing:
BN
B ≠
exc
ess
of r
even
ue o
ver
expe
ndit
ure
inte
rest
rev
enue
othe
r no
ntax
rev
enue
II.
Tot
al e
xpen
ditu
re1.
Cur
rent
exp
endi
ture
incl
udin
g:
ot
her
expe
ndit
ures
subs
idie
s ≠
tota
l
in
tere
st ≠
tot
al
in
tere
st o
n ex
tern
al l
oans
inte
rest
on
inte
rnal
loa
ns
inc
ludi
ng
- d
isco
unts
, in
tere
st a
nd c
omm
issi
ons
on
g
over
nmen
t tr
easu
ry b
ills
-
gov
ernm
ent
bond
s is
sued
to
assu
me
com
pani
esí
debt
to
bank
s
- o
n go
vern
men
t tr
easu
ry b
onds
-
on
loan
s fr
om B
NB
-
on
guar
anty
gov
ernm
ent
secu
riti
es2.
Cap
ital
inv
estm
ents
3. T
rans
fers
≠ t
otal
3.1.
Sub
sidi
es3.
2. T
empo
rary
loa
ns f
rom
gen
eral
gov
ernm
ent
budg
et t
o
mun
icip
al c
ounc
ils
regi
onal
mun
icip
al c
ounc
ils
min
istr
ies
and
othe
r go
vern
men
t in
stit
utio
ns
Soci
al S
ecur
ity
le
gal
auth
orit
ies
3.3.
Gen
eral
gov
ernm
ent
budg
et c
ontr
ibut
ions
3.4.
Tem
pora
ry n
onin
tere
st l
oans
of
the
gene
ral
gove
rnm
ent
b
udge
t fr
om o
ther
ext
rabu
dget
ary
fund
s an
d ac
coun
ts
2154
91.3
1972
94.1
91.6
22.7
3582
16.9
3499
79.4
97.7
21.1
1706
98.7
1601
07.8
93.8
18.5
3025
33.6
2872
79.3
95.0
17.3
1063
.233
92.6
319.
10.
420
600.
011
984.
758
.20.
718
105.
622
609.
712
4.9
2.6
2962
8.9
4594
7.0
155.
12.
823
554.
921
425.
091
.02.
546
000.
038
153.
582
.92.
377
009.
059
283.
377
.06.
811
3300
.011
6932
.710
3.2
7.0
4479
2.6
3718
6.3
83.0
4.3
5568
3.3
6270
0.1
112.
63.
8
2500
0.0
1590
6.2
63.6
1.8
1700
0.0
2243
5.6
132.
01.
418
30.0
3012
.416
4.6
0.3
3164
.842
18.9
133.
30.
310
791.
197
26.7
90.1
1.1
2155
8.9
1722
9.9
79.9
1.0
2734
42.0
2552
19.0
93.3
29.4
5642
38.0
5408
48.1
95.9
32.6
1488
07.6
1407
44.6
94.6
16.2
3972
94.7
3742
35.3
94.2
22.5
6852
.633
99.3
49.6
0.4
9866
.378
39.0
79.5
0.5
8464
.178
33.4
92.5
0.9
1049
5.8
1031
6.1
98.3
0.6
1227
65.8
1239
27.3
100.
914
.335
6308
.734
3958
.796
.520
.727
356.
024
640.
890
.12.
847
843.
547
476.
599
.22.
995
409.
899
286.
510
4.1
11.4
3084
65.2
2964
82.2
96.1
17.9
2591
4.5
2982
0.8
115.
13.
478
416.
984
306.
410
7.5
5.1
1694
7.2
1431
7.7
84.5
1.7
1808
5.6
1797
4.6
99.4
1.1
2803
5.3
3505
9.6
125.
14.
012
9774
.214
2353
.810
9.7
8.6
2121
0.4
1844
3.4
87.0
2.1
6118
2.3
4860
3.0
79.4
2.9
1670
7.0
915.
083
7.3
91.5
0.1
2166
.516
92.9
78.1
0.1
1237
19.4
1136
37.0
91.9
13.1
1647
76.8
1649
19.9
100.
19.
912
3977
.511
3863
.591
.813
.116
5550
.816
5078
.899
.79.
90.
00.
043
4.3
0.0
0.0
0.0
434.
30.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0-2
58.1
-226
.587
.80.
0-7
74.0
-593
.2-2
04.9
0.0
(con
tinu
ed)
143
(con
tinu
ed)
III.
Def
icit
(≠)
/ S
urpl
us (
+)
1. P
rim
ary
defi
cit/
surp
lus
Inte
rest
pai
d on
int
erna
l lo
ans
2. I
nter
nal
defi
cit
Inte
rest
pai
d on
ext
erna
l lo
ans
3. C
ash
defi
cit
IV.
Cas
h de
fici
t fi
nanc
ing
1. F
orei
gn f
inan
cing
(op
erat
ions
abr
oad)
1.1.
Rep
aym
ents
on
exte
nded
cre
dits
to
othe
r co
untr
ies
1.2.
Rep
aym
ents
on
exte
rnal
loa
ns1.
3. R
epay
men
ts o
n tr
ade
defi
cit
in t
rans
fera
ble
roub
les
w
ith
the
form
er C
OM
EC
ON
cou
ntri
es1.
4. O
verd
ue p
aym
ents
1.5.
Cla
ims
2. D
omes
tic
fina
ncin
g2.
1. O
pera
tion
s in
gov
ernm
ent
secu
riti
es,
net
Is
sue
of g
over
nmen
t se
curi
ties
in
the
curr
ent
year
, ne
t
iss
ue o
f tr
easu
ry b
ills
i
ssue
of
trea
sury
bon
ds
Rep
aym
ent
of g
over
nmen
t se
curi
ties
in
the
curr
ent
year
≠ t
otal
r
epay
men
t of
gov
ernm
ent
secu
riti
es i
ssue
d in
the
cur
rent
yea
r
rep
aym
ent
of g
over
nmen
t se
curi
ties
iss
ued
in p
revi
ous
year
s2.
2. B
ank
fina
ncin
g, n
et
BN
B
lon
g-te
rm l
oans
r
epay
men
ts o
n lo
ng-t
erm
loa
ns
tem
pora
ry l
oans
r
epay
men
ts o
n te
mpo
rary
loa
ns
Rep
aym
ents
on
cred
its
from
oth
er f
inan
cial
ins
titu
tion
s
(SSB
and
SII
)
rep
aym
ents
on
SSB
cre
dits
r
epay
men
ts o
n SI
I cr
edit
s2.
3. L
oans
rep
aid
by m
unic
ipal
cou
ncils
fro
m p
revi
ous
year
s2.
4. G
over
nmen
t de
posi
t2.
5. B
udge
t de
posi
t2.
5. B
udge
t ba
lanc
e fr
om t
he p
revi
ous
year
2.6.
Tem
pora
ry n
onin
tere
st l
oans
of
the
gene
ral
g
over
nmen
t bu
dget
fro
m o
ther
ext
rabu
dget
ary
reso
urce
s
Not
es:
1. T
he i
nfor
mat
ion
on c
ash
basi
s re
port
ing
of t
he g
ener
al g
over
nmen
t bu
dget
is
base
d on
the
cab
le a
ccou
ntan
cy r
ecei
ved
by c
omm
erci
al b
anks
and
is
clas
sifi
ed a
ccor
ding
to
the
met
hod
appl
ied
by t
he M
F.
2.
Allo
cati
on o
f ex
pend
itur
es p
roje
cted
by
the
Law
is
base
d on
MF
dat
a.
Sour
ce:
BN
B.
6481
5.1
6600
2.4
101.
87.
615
0287
.615
3090
.010
1.9
9.2
9540
9.8
9928
6.5
104.
111
.430
8465
.229
6482
.296
.117
.9-3
0594
.7-3
3284
.110
8.8
3.8
-158
177.
6-1
4339
2.2
90.7
-8.6
2735
6.0
2464
0.8
90.1
2.8
4784
3.5
4747
6.5
99.2
2.9
-579
50.7
-579
24.9
100.
06.
7-2
0602
1.1
-190
868.
792
.6-1
1.5
5795
0.7
5792
4.9
100.
06.
720
6021
.119
0868
.792
.611
.5-1
1628
.3-1
1713
.410
0.7
1.3
-518
91.3
-501
08.3
96.6
-3.0
133.
011
2.9
84.9
79.9
85.4
106.
9-7
400.
7-7
176.
597
.0-4
7931
.6-4
8121
.010
0.4
-159
0.8
-126
4.9
79.5
-252
4.0
-580
.423
.0-2
769.
8-3
385.
012
2.2
-391
5.5
-319
2.4
81.5
2400
.017
00.0
70.8
6957
9.0
6963
8.3
100.
18.
025
7912
.424
0977
.093
.414
.566
310.
569
938.
610
5.5
1426
63.4
1464
09.1
102.
612
1076
.412
4704
.610
3.0
2481
27.9
2517
78.9
101.
511
5029
.637
7027
.839
497.
027
085.
6-8
4588
.0-2
5770
4.3
-298
22.0
-152
334.
5-5
4765
.9-5
4766
.010
0.0
-105
464.
5-1
0536
9.8
99.9
-448
6.3
-448
6.3
100.
011
1536
.311
1536
.310
0.0
-401
3.3
-401
3.3
100.
011
2009
.311
2009
.310
0.0
0.0
1150
00.0
1150
00.0
-401
3.3
-401
3.3
100.
0-2
990.
7-2
990.
710
0.0
1900
0.0
1180
89.0
-190
00.0
-118
089.
0
-473
.0-4
73.0
100.
0-4
73.0
-473
.010
0.0
-253
.0-2
53.0
-220
.0-2
20.0
143.
848
.60.
0-3
712.
7-2
0729
.777
54.8
7754
.810
0.0
3712
.737
12.7
0.0
0.0
0.0
0.0
Indi
cato
rsSt
ate
Rep
orti
ng%
of
% o
fB
udge
t L
aw,
as o
f 31
Dec
.,th
e L
awG
DP
mil
lion
BG
Lm
illi
on B
GL
Stat
eR
epor
ting
% o
f%
of
Bud
get
Law
,as
of
31 D
ec.,
the
Law
GD
Pm
illi
on B
GL
mil
lion
BG
L
1995
1996
144
DOMESTIC GOVERNMENT DEBT
(thousand BGL)
Debt amount Change in 1996 Debt amount DebtStructure as of as of growth,
31 Dec. 1995 Increase Decrease 31 Dec. 1996 times
I. DEBT ON GOVERNMENT SECURITIES ISSUED FOR BUDGET DEFICIT FINANCING1. Government securities issued in 1993 2 561 000.0 2 561 000.0 0.0 incl. 3-year 2 561 000.0 2 561 000.0 0.02. Government securities issued in 1994 17 512 941.5 11 312 971.5 6 199 970.0 incl. 2-year 11 312 971.5 11 312 971.5 0.0 3-year 3 945 400.0 3 945 400.0 5-year 1 017 070.0 1 017 070.0 8-year1 1 237 500.0 1 237 500.03. Government securities issued in 1995 134 688 030.3 91 590 521.4 43 097 508.9 3.1. Short-term 85 169 036.1 85 169 036.1 0.0 incl. 3-month 3 828 452.7 3 828 452.7 0.0 6-month 20 465 813.9 20 465 813.9 0.0 9-month 29 993 482.2 29 993 482.2 0.0 12-month 30 881 287.3 30 881 287.3 0.0 3.2. Long-term 49 518 994.2 6 421 485.3 43 097 508.9 incl. 2-year 17 212 422.6 6 421 485.3 10 790 937.3 3-year 8 379 198.9 8 379 198.9 5-year 13 905 412.7 13 905 412.7 9-year1 10 021 960.0 10 021 960.04. Government securities issued in 1996 404 154 598.2 152 334 514.7 251 820 083.5 4.1. Short-term 377 069 010.1 152 334 514.7 224 734 495.4 incl. 3-month 192 385 853.6 122 243 820.1 70 142 033.5 6-month 70 585 314.1 21 335 369.4 49 249 944.7 9-month 58 311 315.5 8 660 586.2 49 650 729.3 12-month 55 786 526.9 94 739.0 55 691 787.9 4.2. Long-term 27 085 588.1 27 085 588.1 incl. 2-year 14 594 069.1 14 594 069.1 3-year 11 645 769.0 11 645 769.0 5-year 845 750.0 845 750.0
TOTAL (I) 154 761 971.8 404 154 598.2 257 799 007.6 301 117 562.4 1.9
II. DIRECT DEBT TO FINANCIAL INSTITUTIONS1. Bulgarian National Bank 26 051 525.8 233 089 000.0 121 079 679.3 138 060 846.5 incl. long-term credits 26 051 525.8 115 000 000.0 2 990 679.3 138 060 846.5 short-term credits 0.0 118 089 000.0 118 089 000.0 0.02. State Savings Bank 1 517 889.0 252 981.5 1 264 907.53. State Insurance Institute 220 000.0 220 000.0 0.0
TOTAL (II) 27 789 414.8 233 089 000.0 121 552 660.8 139 325 754.0 5.0
III. DEBT ON OTHER GOVERNMENT SECURITIES ISSUED PURSUANT TO CM DECREES AND LAWS¿1. Long-term government bonds issued pursuant to CM Decree No. 244 of 1991 4 127 600.0 4 127 600.0¿2. Long-term government bonds issued pursuant to CM Decree No. 234 of 1992 4 816 830.0 18 943.0 4 797 887.0¿3. Long-term government bonds issued pursuant to Articles 4 Ë 5 of LSNC of 1993 in BGL 22 613 902.0 3 557.0 2 568 968.0 20 048 491.0 denominated in USD (thousand USD) 971 059.5 20 878.3 950 181.2 (in BGL at the current exchange rate) 68 657 790.9 463 070 807.8¿4. Long-term government bonds issued pursuant to CM Decree No. 3 of 1994 1 712 983.0 281 754.0 1 431 229.0
TOTAL ¿ 101 929 105.9 3 557.0 2 869 665.0 493 476 014.8
B1. Government bonds issued pursuant to Article 2 of CM Decree No. 89 of 1995 58 314 751.0 58 314 751.0 Issue No. 200 (7-year) 22 051 228.0 22 051 228.0 Issue No. 201 (7-year) 36 263 523.0 36 263 523.0
(continued)
145
B2. Government bonds issued pursuant to CM Decree No. 193 of 1995 2 599 980.0 2 599 980.0 Issue No. 202 (5-year) 1 175 980.0 1 175 980.0 Issue No. 203 (3-year) 1 000 000.0 1 000 000.0 Issue No. 204 (4-year) 424 000.0 424 000.0
TOTAL B 60 914 731.0 0.0 0.0 60 914 731.0
C. Government bonds issued pursuant to Articles 8 and 9 of the LSPDA of 19962
in BGL 19 481 939.0 19 481 939.0 Issue No. 402 (7-year) 6 000 000.0 6 000 000.0 Issue No. 403 (7-year) 6 338 967.0 6 338 967.0 Issue No. 404 (7-year) 6 301 174.0 6 301 174.0 Issue No. 405 (7-year) 793 066.0 793 066.0 Issue No. 406 (7-year) 18 180.0 18 180.0 Issue No. 407 (7-year) 30 552.0 30 552.0 denominated in USD 38 551 870.5 Issue No. 314 (3-year), thousand USD 50 000.0 50 000.0 (in BGL at the current exchange rate) 24 367 500.0 Issue No. 315 (3-year), thousand USD 28 151.3 28 151.3 (in BGL at the current exchange rate) 13 719 536.1 Issue No. 329 (3-year), thousand USD 953.8 953.8 (in BGL at the current exchange rate) 464 834.4
TOTAL C 19 481 939.0 0.0 58 033 809.5
TOTAL (III) 162 843 836.9 19 485 496.0 2 869 665.0 612 424 555.3 3.8
DOMESTIC GOVERNMENT DEBT, TOTAL 345 395 223.5 656 729 094.2 382 221 333.4 1 052 867 871.7 3.0
1 MF securitized direct debt to the BNB.2 Law on State Protection of Deposits and Accounts with Commercial Banks in respect whereof the BNB Has Petitioned the Institution of Bankruptcy Proceedings. BNB exchange rate on 30 December 1996: USD 1 = BGL 487.35.
Source: BNB.
(continued)(thousand BGL)
Debt amount Change in 1996 Debt amount DebtStructure as of as of growth,
31 Dec. 1995 Increase Decrease 31 Dec. 1996 times
146
MO
NE
Y S
UP
PL
Y I
N 1
996
(mill
ion
BG
L)
Indi
cato
rsD
ec.í9
5Ja
nuar
yF
ebru
ary
Mar
chA
pril
May
June
July
Aug
ust
Sept
embe
rO
ctob
erN
ovem
ber
Dec
embe
r1
Exc
hang
e ra
te,
BG
L/1
USD
Bro
ad m
oney
BG
L
fo
reig
n cu
rren
cy
Mon
ey (
Ã2)
Mon
ey (
Ã1)
Cur
renc
y ou
tsid
e ba
nks
Dem
and
depo
sits
Qua
si-m
oney
Tim
e de
posi
ts
Sa
ving
s de
posi
ts
F
orei
gn c
urre
ncy
depo
sits
Impo
rt a
nd r
estr
icte
d de
posi
ts
B
GL
fore
ign
curr
ency
1 P
reli
min
ary
data
.
Sour
ce:
BN
B.
70.7
0473
.878
76.0
6978
.828
89.4
1814
7.04
155.
4618
7.14
201.
9922
9.98
239.
6334
9.86
487.
35
5836
6357
6149
5849
4158
4179
6055
9669
1909
7012
1576
4418
8170
1582
6473
8471
5410
1637
313
1027
542
4899
4132
5742
2642
4199
9942
5148
4359
3044
0613
4577
5648
2017
4757
0449
9808
5362
7464
8989
1587
6416
2892
1622
9916
4180
1804
4825
5979
2606
0230
6662
3349
9835
0769
3473
4648
0099
6612
86
5713
0556
3674
5699
6357
0067
5903
2066
7840
6784
2373
9607
7863
0479
4412
8127
7296
8166
1244
566
1078
8693
418
9578
193
011
9627
810
3293
1124
3612
8185
1421
2414
2663
1447
4717
4430
2366
2861
615
5603
857
723
5726
260
175
6579
970
257
7705
582
999
8543
885
736
1032
9312
6461
4627
137
380
3805
835
749
3610
337
494
4217
951
130
5912
557
225
5901
171
137
1101
67
4634
1947
0256
4741
8247
7056
4940
4256
4547
5659
8761
1422
6441
8065
1749
6680
2579
3736
1007
938
2555
7025
8534
2636
2526
6137
2681
7127
0424
2693
0727
1439
2790
4427
5370
2979
5030
6261
3261
5357
819
5700
056
968
5620
555
928
5521
754
677
5416
854
106
5182
251
209
5067
381
606
1500
3015
4722
1535
8915
4714
1699
4323
8906
2420
0328
5797
3110
3032
4557
3188
6643
6802
6001
79
1228
812
400
1489
314
044
1519
523
955
2265
224
628
3058
231
887
3420
847
982
6539
835
6242
4562
0945
8146
9069
3241
3038
8366
8357
8958
4248
5045
2287
2681
5586
8494
6310
505
1702
318
522
2074
523
899
2609
828
366
4313
260
876
147
DO
ME
ST
IC C
RE
DIT
IN
1996
(mill
ion
BG
L)
Indi
cato
rsD
ec.í9
5Ja
nuar
yF
ebru
ary
Mar
chA
pril
May
June
July
Aug
ust
Sept
embe
rO
ctob
erN
ovem
berD
ecem
ber1
Exc
hang
e ra
te,
BG
L/1
USD
Net
dom
esti
c cr
edit
BG
L
fo
reig
n cu
rren
cy
Cla
ims
on g
over
nmen
t, n
et
B
GL
fore
ign
curr
ency
St
ate
budg
et,
net
BG
L
fo
reig
n cu
rren
cy
E
xtra
budg
etar
y ac
coun
ts,
net
Cla
ims
on n
ongo
vern
men
t se
ctor
BG
L
fo
reig
n cu
rren
cy
C
laim
s on
non
fina
ncia
l pu
blic
ent
erpr
ises
BG
L
fo
reig
n cu
rren
cy
C
laim
s on
pri
vate
sec
tor
BG
L
fo
reig
n cu
rren
cy
1 P
reli
min
ary
data
.
Sour
ce:
BN
B.
70.7
0473
.878
76.0
6978
.828
89.4
1814
7.04
155.
4618
7.14
201.
9922
9.98
239.
6334
9.86
487.
35
6284
8566
7733
6830
2769
0128
7076
6883
5868
9221
3910
8294
011
3746
612
0858
112
2255
216
0058
019
9440
741
1077
4346
0143
8586
4375
3142
5437
4397
4545
4264
5360
8554
5422
5397
9753
7685
6209
5165
2219
2174
0823
3132
2444
4125
2597
2822
3139
6123
4678
7554
6855
5920
4466
8784
6848
6797
9629
1342
188
2693
7829
3621
3022
3830
1869
2965
3730
3267
3704
8345
6835
4716
4249
4711
4921
0666
4024
8225
2020
7108
2301
8723
3389
2330
7522
3394
2290
8123
7178
3121
4131
1266
3010
2629
8920
3786
1241
7010
6227
063
434
6884
968
794
7314
374
186
1333
0514
4694
1603
7619
3685
1931
8628
5412
4055
10
3441
7436
4606
3719
7237
5862
3730
8238
7116
4558
2655
9471
5717
1461
6741
6301
6384
3980
1084
893
2394
6125
6951
2587
4326
1363
2490
3825
3904
2613
6233
4996
3326
9932
4936
3308
5940
8620
4797
9710
4713
1076
5511
3229
1144
9912
4044
1332
1219
4464
2244
7523
9015
2918
0529
9304
4353
6060
5096
-747
96-7
0985
-697
34-7
3993
-765
45-8
3849
-853
43-1
0263
6-1
0007
2-1
2203
0-1
3805
7-1
7995
6-2
6237
3
3591
0737
4112
3807
8938
8259
4111
3153
2601
5516
5662
6105
6658
2471
3870
7304
4693
6556
1171
887
2039
6920
4414
2051
9720
4456
2020
4321
0664
2170
8622
3944
2341
5623
8771
2387
6524
2339
2352
0915
5138
1696
9817
5592
1838
0320
9088
3219
3733
4570
4021
6143
1668
4750
9949
1681
6942
1793
6678
1690
2317
5050
1776
9918
5512
1946
1025
0924
2493
5728
5333
3020
2532
0615
3310
7142
3671
5255
8997
576
9802
398
417
9766
395
992
9292
689
300
9543
410
1747
1025
4110
7216
1085
6995
880
7144
777
027
7928
287
849
9861
815
7998
1600
5718
9899
2002
7821
8074
2238
5531
5102
4297
09
1900
8419
9062
2030
9020
2747
2165
2128
1677
3022
9934
0772
3637
9939
3255
3993
7551
2885
6462
9810
6393
1063
9110
6780
1067
9310
6051
1177
3812
7786
1285
1013
2409
1362
3013
1549
1337
7013
9329
8369
192
671
9631
095
954
1104
7016
3939
1745
1321
2262
2313
9025
7025
2678
2637
9115
5069
69
148
NO
MIN
AL
IN
TE
RE
ST
RA
TE
S O
N O
NE
-MO
NT
H D
EP
OS
ITS
IN
1996
Mon
ths
Dec
.í95
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
r
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
rD
ecem
ber
RE
AL
IN
TE
RE
ST
RA
TE
S O
N O
NE
-MO
NT
H D
EP
OS
ITS
IN
1996
Mon
ths
Dec
.í95
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
r
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
rD
ecem
ber
* In
tere
st r
ates
are
def
late
d by
the
con
sum
er p
rice
ind
ex.
Sour
ce:
BN
B.
1.88
4.08
2.17
6.74
4.77
2.55
9.62
7.61
5.32
2.70
14.4
612
.35
9.96
7.23
4.41
20.1
417
.92
15.4
212
.55
9.59
4.96
26.0
723
.75
21.1
218
.11
15.0
010
.15
4.94
32.3
129
.87
27.1
123
.96
20.6
915
.60
10.1
34.
9439
.42
36.8
533
.94
30.6
227
.18
21.8
116
.05
10.5
85.
3767
.10
64.0
260
.54
56.5
552
.43
46.0
039
.09
32.5
426
.30
19.8
685
.40
81.9
978
.12
73.7
069
.12
61.9
854
.33
47.0
640
.13
32.9
810
.95
103.
8310
0.08
95.8
390
.97
85.9
478
.09
69.6
761
.68
54.0
646
.21
21.9
89.
94
-0.3
8-0
.12
0.25
0.70
1.08
0.82
0.49
0.87
0.61
-0.2
1-6
.71
-6.3
5-6
.59
-7.3
5-7
.16
-18.
57-1
8.26
-18.
47-1
9.13
-18.
96-1
2.71
-30.
71-3
0.45
-30.
62-3
1.19
-31.
05-2
5.73
-14.
91-3
7.88
-37.
65-3
7.81
-38.
32-3
8.19
-33.
42-2
3.72
-10.
36-4
4.89
-44.
68-4
4.82
-45.
27-4
5.16
-40.
93-3
2.33
-20.
47-1
1.28
-43.
38-4
3.17
-43.
31-4
3.77
-43.
66-3
9.31
-30.
47-1
8.29
-8.8
52.
74-4
2.71
-42.
49-4
2.64
-43.
11-4
2.99
-38.
59-2
9.65
-17.
32-7
.77
3.96
1.19
-50.
38-5
0.19
-50.
32-5
0.73
-50.
62-4
6.81
-39.
07-2
8.39
-20.
12-9
.96
-12.
36-1
3.39
149
NO
MIN
AL
IN
TE
RE
ST
RA
TE
S O
N S
HO
RT
-TE
RM
CR
ED
ITS
IN
1996
Mon
ths
Dec
.í95
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
r
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
rD
ecem
ber
RE
AL
IN
TE
RE
ST
RA
TE
S O
N S
HO
RT
-TE
RM
CR
ED
ITS
IN
1996
Mon
ths
Dec
.í95
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
r
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
rD
ecem
ber
* In
tere
st r
ates
are
def
late
d by
the
con
sum
er p
rice
ind
ex.
Sour
ce:
BN
B.
3.49
7.66
4.02
12.6
18.
814.
6018
.20
14.2
19.
794.
9628
.13
23.8
119
.02
13.7
88.
4040
.63
35.8
930
.63
24.8
818
.98
9.75
54.2
849
.07
43.3
137
.00
30.5
220
.40
9.70
69.2
063
.49
57.1
750
.25
43.1
532
.05
20.3
19.
6789
.60
83.2
076
.12
68.3
760
.41
47.9
734
.82
22.9
012
.06
135.
4712
7.52
118.
7210
9.10
99.2
183
.77
67.4
452
.63
39.1
724
.19
175.
0816
5.80
155.
5214
4.28
132.
7311
4.69
95.6
178
.30
62.5
845
.09
16.8
221
8.53
207.
7919
5.88
182.
8616
9.49
148.
6012
6.50
106.
4788
.26
68.0
035
.28
15.7
9
1.20
3.30
2.07
6.24
4.98
2.84
8.35
7.06
4.88
1.98
4.44
3.20
1.10
-1.6
9-3
.61
-4.6
7-5
.81
-7.7
2-1
0.27
-12.
02-8
.73
-15.
21-1
6.22
-17.
92-2
0.19
-21.
74-1
8.81
-11.
05-2
0.57
-21.
51-2
3.11
-25.
23-2
6.69
-23.
94-1
6.67
-6.3
2-2
5.05
-25.
95-2
7.45
-29.
46-3
0.83
-28.
24-2
1.38
-11.
61-5
.65
-20.
22-2
1.16
-22.
77-2
4.90
-26.
36-2
3.61
-16.
30-5
.91
0.44
6.46
-14.
99-1
6.01
-17.
71-1
9.99
-21.
55-1
8.61
-10.
830.
257.
0113
.42
6.54
-22.
46-2
3.38
-24.
94-2
7.01
-28.
43-2
5.76
-18.
66-8
.55
-2.3
83.
46-2
.81
-8.7
8
150
DENOMINATION COMPOSITION IN NOTES AND COINS
(BGL)
31 December 1995 30 June 1996 31 December 1996
Notes, total 125 995 004 860 150 563 319 390 201 237 588 058
10000 levs 10 000 000 0005000 levs 10 000 000 000 30 000 000 0002000 levs 39 868 000 000 39 856 000 000 39 775 568 0001000 levs 10 279 995 500 12 256 995 500 22 550 450 000500 levs 38 447 263 250 53 390 248 500 60 261 723 250200 levs 19 539 929 900 19 399 148 300 23 043 550 100100 levs 10 893 743 800 9 767 542 400 10 216 653 50050 levs 3 912 655 350 3 213 405 875 2 914 815 60020 levs 1 743 930 052 1 691 135 322 1 697 190 70710 levs 755 250 442 562 993 842 404 674 6725 levs 387 026 302 266 799 536 220 772 1742 levs 82 931 159 77 051 093 73 411 0891 lev 84 279 105 81 999 022 78 778 966
Coins, total 1 162 066 417 1 317 602 317 1 728 702 017
50 levs 11 260 000 11 260 000 11 260 00020 levs 4 714 960 4 714 960 4 714 96010 levs 171 465 000 171 465 000 472 830 0005 levs 198 660 000 198 660 000 273 450 0002 levs 100 525 000 160 545 000 160 545 0001 lev 67 072 651 130 492 651 137 230 651
50 stotinkas 55 588 358 55 588 358 55 588 35820 stotinkas 47 632 861 47 632 861 47 644 06110 stotinkas 33 336 493 33 336 493 33 336 4935 stotinkas 12 083 009 12 083 009 12 083 0092 stotinkas 10 862 659 10 862 659 10 862 6591 stotinka 8 644 520 8 644 520 8 644 520
Commemorative 440 220 906 472 316 806 500 512 306
Notes and coins, total 127 157 071 277 151 880 921 707 202 966 290 075
Source: BNB.
151
CE
NT
RA
L E
XC
HA
NG
E R
AT
E,
VO
LU
ME
OF
TH
E I
NT
ER
BA
NK
FO
RE
X M
AR
KE
T A
ND
GR
OS
S F
OR
EX
RE
SE
RV
ES
IN
1996
Indi
cato
rsD
ec.í9
5Ja
nuar
yF
ebru
ary
Mar
chA
pril
May
June
July
Aug
ust
Sept
embe
rO
ctob
erN
ovem
ber
Dec
embe
r
* G
ross
for
eign
exc
hang
e re
serv
es i
nclu
de B
NB
for
eign
exc
hang
e as
sets
on
curr
ent
acco
unts
and
dep
osit
s w
ith
bank
s ab
road
, ho
ldin
gs i
n SD
R a
nd B
ulga
riaí
s re
serv
e po
siti
on w
ith
the
IMF
.
Sour
ce:
BN
B.
70.2
672
.53
74.5
977
.94
81.5
511
9.53
143.
1018
0.14
191.
7922
4.60
224.
3028
3.39
461.
1648
.87
49.8
250
.93
52.7
954
.39
77.9
993
.73
119.
8012
9.42
149.
4414
6.92
187.
5629
7.71
60.3
761
.69
62.4
265
.17
67.1
895
.33
113.
8714
5.97
159.
5618
2.75
178.
4722
2.59
348.
45
70.7
073
.88
76.0
778
.83
89.4
214
7.04
155.
4618
7.14
201.
9922
9.98
239.
6334
9.86
487.
3549
.35
49.7
152
.41
53.3
258
.95
96.2
010
2.15
126.
6813
6.77
150.
8615
8.89
228.
1531
3.79
61.2
961
.09
64.1
866
.02
72.9
411
7.31
124.
2515
5.66
169.
1718
3.20
191.
1826
9.75
361.
81
535.
152
6.7
403.
948
7.5
332.
927
1.9
290.
631
3.7
303.
936
0.8
425.
533
9.5
284.
756
9.4
765.
045
1.1
584.
031
4.5
246.
525
4.3
444.
032
7.7
442.
236
8.2
376.
320
1.7
1236
.495
5.6
860.
064
3.5
627.
760
0.2
573.
447
9.6
548.
047
1.0
490.
349
0.1
483.
4
Ave
rage
mon
thly
exc
hang
e ra
te
B
GL
/1 U
SD
B
GL
/1 D
EM
BG
L/1
CH
FE
nd o
f m
onth
exc
hang
e ra
te
B
GL
/1 U
SD
B
GL
/1 D
EM
BG
L/1
CH
F
Mon
thly
vol
ume
of f
orex
bou
ght
(mil
lion
USD
)M
onth
ly v
olum
e of
for
ex s
old
(mill
ion
USD
)G
ross
for
eign
exc
hang
e re
serv
es (
mill
ion
USD
)*
152
CONSOLIDATED BALANCE SHEET OF COMMERCIAL BANKS AS OF 31 DECEMBER 1996
(billion BGL)
Indicators Group I Group IITotal for
the banking system
1995 Dec.í96 1995 Dec.í96 1995 Dec.í96
ASSETS
FINANCIAL ASSETS 642 2387 54 211 964 3409Reserves 61 208 9 39 101 297 BGL 39 85 4 7 60 104 foreign currency 21 123 5 32 41 193Government securities 228 641 3 11 252 685 BGL 168 290 2 5 177 299 foreign currency 60 352 1 6 74 386Claims on banks and other financial institutions 106 590 8 45 131 701 BGL 44 105 4 4 53 115 foreign currency 62 485 4 41 78 586Claims on nonfinancial institutions and other clients 245 946 29 105 460 1664 BGL 162 462 12 16 270 586 foreign currency 83 484 16 90 191 1078Bonds and other securities with fixed yieldin trading portfolio 0 0 1 3 7 40 BGL 0 0 0 1 4 4 foreign currency 0 0 1 2 3 36Shares and other securities with variable yieldin trading portfolio 0 0 1 1 1 1 BGL 0 0 0 0 0 0 foreign currency 0 0 1 0 1 0Long-term financial assets 2 2 4 7 12 22Partnerships 0 0 2 5 5 8Equity 1 0 0 0 2 4 Shares 1 2 2 2 6 10 Bonds 0 0 0 0 0 0NONFINANCIAL ASSETS 14 21 6 12 39 52Short-term nonfinancial assets 0 0 0 0 1 1Long-term nonfinancial assets 14 21 6 12 38 50 Intangible 0 0 0 0 1 1 Tangible 13 20 6 12 37 49FUTURE EXPENDITURE 3 17 3 4 12 33RIGHTS TO EQUITY SUBSCRIPTION 0 0 4 15 7 17OTHER ASSETS 3 13 7 9 21 56LOSSES 8 8 1 3 43 63TOTAL ASSETS 670 2446 76 254 1087 3631OFF-BALANCE ASSETS 392 1035 78 280 632 2242
LIABILITIES
ATTRACTED RESOURCES 554 1803 49 151 865 2580Attracted resources from banks and otherfinancial institutions 158 742 20 56 291 1160 BGL 12 22 10 15 86 167 foreign currency 146 720 9 41 205 993Attracted resources from nonfinancialinstitutions and other clients 396 1061 29 96 574 1420 BGL 291 473 15 32 390 605 foreign currency 104 587 14 64 184 815FUTURE REVENUE 41 32 2 4 91 111OTHER LIABILITIES 5 38 7 29 20 108OWN FUNDS 70 573 18 70 111 832Profit 4 81 0 6 5 181 Retained earnings from previous years 0 0 0 0 0 0 Profit for the current year 4 81 0 6 4 181Capital 39 94 15 38 72 184 Fixed 10 60 14 35 36 129 Supplementary 29 34 0 3 35 55Reserves 27 399 2 26 34 467TOTAL LIABILITIES 670 2446 76 254 1087 3631OFF-BALANCE LIABILITIES 392 1035 78 280 632 2242
Source: BNB.
153
I. FINANCIAL EXPENDITURE 197 2299 26 360 416 3957Interest on lev operations 90 302 10 27 165 455Interest on foreign exchange operations 4 14 2 6 18 47Capital losses on securities 62 299 5 34 89 376Valuation adjustments 41 1682 9 291 143 3075Commissions and fees 1 1 0 1 1 3Other financial expenditure 0 0 0 0 0 0II. EXTRA EXPENDITURE 0 4 0 0 8 9III. EXPENDITURE BY ECONOMIC ELEMENT 10 25 3 8 26 51Equipment 1 3 0 1 1 4External services 3 6 1 3 10 18Salaries and other remuneration 3 7 1 2 7 12Social security and benefits 1 3 0 1 3 5Depreciation 1 2 0 1 2 4Other expenditure 1 5 0 1 3 8IV. STATUTORY PROVISIONS 7 379 1 28 10 445Statutory provisions in levs 7 379 1 28 10 445Statutory provisions in foreign currency 0 0 0 0 0 0V. TAXES 9 7 0 2 9 10Profit tax 7 6 0 2 7 8Other taxes 2 1 0 0 2 2TOTAL EXPENDITURE (I+II+III+IV+V) 224 2715 31 398 469 4472VI. RESULT FROM THE REPORTING PERIOD(PROFIT) 4 81 0 6 4 180TOTAL EXPENDITURE (I+II+III+IV+V+VI) 228 2795 31 404 474 4653
I. FINANCIAL REVENUE 220 2730 30 402 437 4519Interest on lev operations 95 347 10 19 152 455Interest on foreign exchange operations 6 27 3 12 23 82Income from partnerships and equity 0 0 0 0 0 0Capital gains on securities 74 298 6 37 108 352Valuation adjustments 44 2054 10 331 148 3620Commissions and fees 2 5 1 2 5 10Other financial revenue 0 0 0 0 0 0II. EXTRA REVENUE 2 65 0 1 4 109III. REVENUE FROM NONFINANCIAL SERVICES 0 0 0 0 1 2TOTAL REVENUE (I+II+III) 223 2795 30 403 441 4630IV. RESULT FROM THE REPORTING PERIOD(LOSSES) 5 0 1 1 33 23TOTAL REVENUE (I+II+III+IV) 228 2795 31 404 474 4653
Source: BNB.
CONSOLIDATED INCOME STATEMENT OF COMMERCIAL BANKS AS OF 31 DECEMBER 1996
(billion BGL)
Indicators Group I Group IITotal for
the banking system
1995 Dec.í96 1995 Dec.í96 1995 Dec.í96
154
BIG
LO
AN
S O
F C
OM
ME
RC
IAL
BA
NK
S A
S O
F 3
1 D
EC
EM
BE
R 1
996
(as p
er R
egu
lati
on
s N
o.
7 o
f th
e B
NB
)
Indi
cato
rsG
roup
IG
roup
II
Gro
up I
II
1995
Dec
.í96
1995
Dec
.í96
1995
Dec
.í96
4292
1352
116
2190
715
14
197.
310
3.0
193.
133
7.8
108.
636
0.5
Big
loa
ns,
billi
on B
GL
Cap
ital
bas
e, b
illio
n B
GL
Big
loa
ns/c
apit
al b
ase,
%
Sour
ce:
BN
B.
CA
PIT
AL
AD
EQ
UA
CY
OF
CO
MM
ER
CIA
L B
AN
KS
AS
OF
31 D
EC
EM
BE
R 1
996
(as p
er R
egu
lati
on
s N
o.
8 o
f th
e B
NB
)
Indi
cato
rsG
roup
IG
roup
II
Gro
up I
II
1995
Dec
.í96
1995
Dec
.í96
1995
Dec
.í96
209
466
3713
81
1221
907
151
429
7210
191
610
.219
.318
.811
.198
.436
.213
.715
.427
.313
.411
2.5
52.2
4.8
5.0
9.7
7.0
35.0
12.1
-2.3
3.9
2.1
4.5
13.0
-8.7
Tot
al r
isk
com
pone
nt,
bill
ion
BG
L C
apit
al b
ase,
bill
ion
BG
L P
rim
ary
capi
tal,
billi
on B
GL
T
otal
cap
ital
ade
quac
y, %
Pri
mar
y ca
pita
l ad
equa
cy,
%D
egre
e of
ass
ets
cove
rage
, %
N
et c
apit
al/b
alan
ce s
heet
ass
ets,
%
Not
e: N
et c
apit
al =
Tot
al a
sset
s ≠
Los
ses
≠ R
ight
s to
equ
ity
subs
crip
tion
≠ F
utur
e ex
pend
itur
e ≠
Fut
ure
reve
nue
≠ A
ttra
cted
res
ourc
es ≠
Oth
er l
iabi
litie
s≠
Req
uire
dpr
ovis
ions
.
Sour
ce:
BN
B.
CO
NS
OL
IDA
TE
D R
EP
OR
T O
F C
OM
ME
RC
IAL
BA
NK
S A
S O
F 3
1 D
EC
EM
BE
R 1
996
(as p
er R
egu
lati
on
s N
o.
9 o
f th
e B
NB
)
(bill
ion
BG
L)
Stan
dard
Dou
btfu
lL
oans
not
sub
ject
Dou
btfu
lU
ncol
lect
able
Loa
ns a
s pe
r R
egu-
Req
uire
d st
atut
ory
Rep
orte
d st
atut
ory
Indi
cato
rslo
ans
loan
s ≠
grou
p ¿
to
prov
isio
ning
loan
s ≠
grou
p B
loan
sla
tion
s N
o. 9
, tot
alpr
ovis
ions
, tot
alpr
ovis
ions
, tot
al
1995
Dec
.í96
1995
Dec
.í96
1995
Dec
.í96
1995
Dec
.í96
1995
Dec
.í96
1995
Dec
.í96
1995
June
í96
Dec
.í96
1995
June
í96
Dec
.í96
Gro
up I
Gro
up I
IG
roup
III
194
790
155
613
016
82
2525
213
376
1810
56.8
83.4
379.
427
.145
.835
9.9
2257
1338
043
313
419
4217
08.
211
.537
.42.
46.
329
.80
02
310
00
20
33
360.
40.
910
.00.
40.
32.
5
Sour
ce:
BN
B.
155
Yea
r, m
onth
1995
Dec
embe
rT
otal
for
the
yea
r
1996
Janu
ary
Feb
ruar
yM
arch
Apr
ilM
ayJu
neJu
lyA
ugus
tSe
ptem
ber
Oct
ober
Nov
embe
rD
ecem
ber
Tot
al f
or t
he y
ear
Sour
ce:
BN
B.
TR
AN
SF
ER
S I
N T
HE
BA
NK
ING
SY
ST
EM
Mon
thly
Dai
ly
Am
ount
, B
GL
Num
ber
883
1 08
3 68
123
7 16
0 00
4 38
457
036
80 4
7212
482
105
494
17 6
83 5
22 4
0010
103
225
2 15
0 35
4 84
1 07
439
776
95 5
718
465
963
941
17 6
83 5
22 4
00
897
770
267
174
452
234
207
38 5
1361
994
8 72
2 61
1 71
012
883
459
032
908
819
279
161
301
956
047
39 0
1355
544
7 68
1 04
5 52
69
394
434
566
928
882
767
173
545
961
447
44 1
3884
556
8 67
7 29
8 07
212
331
265
357
936
930
866
200
957
002
807
44 3
2767
590
9 56
9 38
1 08
612
172
381
423
953
898
173
197
070
287
310
42 7
7061
397
9 38
4 29
9 39
611
992
722
059
961
740
238
179
730
553
412
37 0
1266
395
8 98
6 52
7 67
112
057
136
398
970
849
684
251
171
428
422
40 4
6166
744
11 9
60 5
44 2
1119
962
251
330
964
825
654
293
954
932
865
37 5
3067
934
13 3
61 5
87 8
5817
485
481
646
969
779
601
284
829
122
636
37 1
2471
751
13 5
63 2
91 5
5417
657
608
760
956
829
694
352
102
805
965
36 0
7469
079
15 3
08 8
17 6
5125
923
479
322
955
735
218
356
306
244
317
36 7
6168
395
17 8
15 3
12 2
1622
925
105
487
962
929
349
483
605
089
479
46 4
6781
843
24 1
80 2
54 4
7435
076
047
673
9 99
0 79
03
109
027
618
912
39 9
6384
556
12 4
36 1
10 4
7635
076
047
673
Max
imum
num
ber
Ave
rage
num
ber
Ave
rage
am
ount
Num
ber
of b
ank
bran
ches
Max
imum
am
ount
Major Economic and Political Events in 1996
18 January The National Assembly adopted Law on ratification of the financial agreement be-tween the Republic of Bulgaria and the European Investment Bank (Transit Road IIProject).
31 January The National Assembly passed Law on ratification of the guarantee agreements andprotocol with the International Bank for Reconstruction and Development and theEBRD on the project for rehabilitation and restructuring of the Bulgarian State Rail-ways.
9 February The National Assembly passed Law on the 1996 State Budget of the Republic ofBulgaria, providing for a BGL 58,312.8 million general government budget deficitfor 1996.
4 March The Council of Ministers adopted Decree No. 35 on the rules of procedure for theincorporation and scope of activity of the Securities and Stock Exchanges Commis-sion.
2 April The National Assembly passed Amendments to the Law on the BNB.
5 April The National Assembly passed Law on ratification of the agreements between theRepublic of Bulgaria and the Export-Import Bank of Japan and other Japanese bankcreditors.
14 – 16 April Annual Meeting of the EBRD in Sofia.
14 May The National Assembly passed Amendments to the Law on Banks and Credit Activ-ity.
22 May The National Assembly passed Law on the Measures against Money Laundering.
23 May The National Assembly passed Law on State Protection of Deposits and Accountswith Commercial Banks in respect whereof the Bulgarian National Bank Has Peti-tioned the Institution of Bankruptcy Proceedings.
4 July The National Assembly passed Law on the Corporate Tax.
5 July The National Assembly passed Law on ratification of the loan agreement (Market-place Project in Bulgaria) between the Republic of Bulgaria and the EBRD.
25 July The National Assembly passed Law on the State Budget Constitution comprised ofseven chapters incorporating general principles, the manner of drawing up, adoptingand executing the state budget, the procedure for adopting the state budget report,interaction between the state budget and municipal budgets, extrabudgetary funds, aswell as additional, transitional and final provisions.
30 July The National Assembly passed Law on the Financial Rehabilitation of State-ownedEnterprises involving measures to strengthen and fund enterprises through a special-ized rehabilitation fund.
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157
30 July The National Assembly passed Amendment to the Law on the 1996 State Budget ofthe Republic of Bulgaria establishing a BGL 80,715.7 million general governmentbudget deficit for 1996 which repeals the BGL 58,312.8 million deficit as approvedby the Law on the 1996 State Budget of the Republic of Bulgaria consistent with in-creased current expenditure reflecting interest repayments on domestic and foreigndebts.
18 September The National Assembly passed Law on ratification of the loan agreement (HealthcareRestructuring Project) between the Republic of Bulgaria and the International Bankfor Reconstruction and Development and the loan agreement between the Republicof Bulgaria and the European Social Development Fund.
17 October The National Assembly passed Law on the Stock Exchanges and Marketplaces.
23 October The National Assembly passed Amendments to the Law on State Protection of De-posits and Accounts with Commercial Banks in respect whereof the Bulgarian Na-tional Bank Has Petitioned the Institution of Bankruptcy Proceedings.
6 November By Resolution No. 133 the Central Election Commission announced presidentialelection results whereby Peter Stoyanov was elected President and Todor KavaldjievVice President of the Republic of Bulgaria, both nominees of the United DemocraticForces Coalition.
12 December The National Assembly passed Amendment to the Law on the 1996 State Budget ofthe Republic of Bulgaria, replacing the BGL 80,715.7 million cash deficit by BGL206,021.1 million consistent with increased current expenditure for interest repay-ments on domestic and foreign debts. The Law provides for the extension of a BGL115 billion direct credit from the BNB earmarked to finance the increased deficit.
21 December The government of the Republic of Bulgaria tendered its resignation. The deep finan-cial and economic crises in the country grew into political crisis.
Major Resolutions of the Managing Board of the
Bulgarian National Bank in 1996
15 January Regulations No. 4 on foreign currency positions of banks were adopted, to go intoeffect on 1 April 1996.
22 January To go into effect under the end-1995 regulation of minimum reserve requirements,commercial banks’ minimum reserve requirements (except SSB) were decreased by1.5 percentage points (from 11% to 9.5%), provided the released funds would beused for outright purchase of short or medium-term government securities offered bythe BNB.
1 February As of 5 February 1996, the basic interest rate was set at 42% per annum.
Regulations No. 5 of 1996 on the terms and procedure for issuance, acquisition andredemption of book-entry government securities and the criteria for valuation andselection of primary dealers in government securities were adopted.
8 February An amendment to Regulations No. 8 on the capital adequacy of banks was adopted,whereby the minimum capital required for making bank transactions was set atBGL 800 million for making bank operations domestically, and BGL 1,200 millionfor making bank operations domestically and abroad.
For the January – December 1996 period, cash holdings in levs of commercial banksand the SSB qualify as minimum reserve requirements with up to 60% of the actualamount in cash holdings.
To ensure timely and unimpeded payment by banks of initial (affiliation) contribu-tions and annual premium contributions as provided for in Articles 10 and 11 ofRegulations No. 1 on bank deposit insurance, to go into effect under the January1996 regulation, minimum reserve requirements of banks held with the BNB (exceptSSB) were reduced by one percentage point (from 9.5% to 8.5%), provided the re-leased funds would be used entirely for payment of due contributions to the Fund aswell as to purchase government securities on outright agreements with the BNB ifbalances remained after the contributions had been paid.
28 February The proposed agreement to transfer, against no payment, more than 50% of the vot-ing registered shares from Vitosha Bank for Agricultural Credit Ltd. to the BNB,which, together with the shares owned by the Bank Consolidation Company, wouldensure majority in decision-making at the General Meeting of Shareholders inVitosha Bank for Agricultural Credit Ltd.
29 February The interest rate on funds raised for bank deposit insurance was set at 9% (the samerate was applied on banks’ special current accounts). The interest was to accrue on amonthly basis and compounded.
158
159
4 March As of 6 March, the basic interest rate was set at 49% per annum.
The interest rate on commercial banks’ current accounts with the BNB was set at10% per annum.
The Metropolitan Municipal Bank Ltd., headquartered in Sofia, with capital ofBGL 450 million, was authorized to make bank transactions in the country underArticle 1, para. 2 (except items 6 and 9) of the LBCA. The total amount of credits ex-tended to the Sofia Great Municipality, to firms with over 50% municipal stake, in-cluding acquisition of government securities issued by the Sofia Great Municipalityand such firms, should not exceed 20% of the paid-in capital.
7 March Pursuant to Article 56, para. 1, item 7 in connection with Article 19, para. 1, item 4,paras. 2 and 3 of the LBCA, the BNB Board revoked the permit (license) ofCrystalbank Ltd. to conduct bank transactions under Article 1, para. 2 of the LBCA.
Pursuant to Article 56, para. 1, item 7 in connection with Article 19, para. 1, item 4,paras. 2 and 3 of the LBCA, the BNB Board revoked the permit (license) of the Pri-vate Agricultural Investment Bank Ltd. to conduct bank transactions under Article 1,para. 2 of the LBCA.
12 March As of 13 March 1996, an interest rate of 70% per annum was set on three-day andexceeding three days overdraft on current accounts.
Pursuant to Article 46 of the Law on the BNB, an interim loan, totaling BGL 4 bil-lion, repayable within 3 months from the value date, was extended to the MF between13 March and 19 March 1996. Interest accrued on the loan was equal to the basic in-terest rate operative in the respective period.
14 March Regulations No. 18 on replacement of damaged Bulgarian banknotes and coins in cir-culation were adopted.
29 March Pursuant to Article 46 of the Law on the BNB, an interim loan, totaling BGL 6.5 bil-lion, value date 29 March 1996, repayable within three months, was extended to theMF. Interest accrued on the loan was equal to the basic interest rate operativethroughout the respective period.
25 April As of 26 April 1996, the basic interest rate was set at 67% per annum.
The interest rate on commercial banks’ current accounts with the BNB was set at14% per annum.
Pursuant to Article 46 of the Law on the BNB, a credit line of up to BGL 5 billionwas extended to the MF. Interest accrued on the loan was equal to the basic interestrate operative throughout the respective period.
2 May ‘Société Générale,’ headquartered in Paris, was authorized to open a branch in Sofia,through which to conduct bank transactions under Article 1, para. 2 (except items 6and 9) of the LBCA.
9 May As of 10 May 1996, the basic interest rate was set at 108% per annum.
17 May Pursuant to Article 65, paras. 1 and 2 of the LBCA, the BNB Board placed the Bankfor Economic Enterprise Mineralbank Ltd. under conservatorship; removed fromoffice all members of the Managing and Supervisory Boards; appointed conservatorsat Mineralbank Ltd. with the powers vested under Article 58, para. 4 of the LBCA;imposed restrictions on the activity of the bank depriving it from the right to conductthe transactions under Article 1, para. 2, items 2 – 10 of the LBCA, accept money ondeposit from physical persons, and dispose of its property.
Pursuant to Article 65, paras. 1 and 2 of the LBCA, the BNB Board placed First Pri-vate Bank Ltd. under conservatorship; removed from office all members of the Boardof Directors; appointed conservators at First Private Bank Ltd. with the powersvested under Article 58, para. 4 of the LBCA; imposed restrictions on the activity ofthe bank depriving it from the right to conduct the transactions under Article 1,para. 2, items 2 – 10 of the LBCA, accept money on deposit from physical persons,pay out dividends, and dispose of its property.
21 May Pursuant to Article 56, para. 1, item 7, paras. 3 and 4, and Article 58, para. 4 of theLBCA and Article 16 of the Administrative Procedure Law, the BNB Board removedfrom office all members of the Managing and Supervisory Boards of Private Agricul-tural and Investment Bank Ltd., and appointed conservators with the powers vestedunder Article 58, para. 4 of the LBCA.
23 May Pursuant to Article 46 of the Law on the BNB, the Bulgarian National Bank decidedto increase the amount of the credit line extended to the Ministry of Finance by theResolution of 25 April 1996 of the Managing Board of the BNB up to BGL 10 bil-lion, i.e. to the maximum admissible amount for unserviced temporary credits. Inter-est accrued on the loan was equal to the basic interest rate effective throughout therespective period.
29 May Extension of new and unutilized unsecured credits to commercial banks was discon-tinued. The BNB stopped extending Lombard and discount loans and refinancing inforeign currency.
As of 30 May 1996, auctions for outright sale of government securities from theBNB portfolio were introduced.
30 May Pursuant to Article 70, paras. 2 and 3 in connection with para. 4 of this Article andArticle 71 of the LBCA, the BNB Board ascertained the insolvency of MineralbankLtd. and applied to the Sofia City Court to institute bankruptcy proceedings againstthe bank.
Pursuant to Article 70, paras. 2 and 3 in connection with para. 4 of this Article andArticle 71 of the LBCA, the BNB Board ascertained the insolvency of First PrivateBank Ltd. and applied to the Sofia City Court to institute bankruptcy proceedingsagainst the bank.
6 June As of 17 June 1996, the BNB Board put into circulation a new banknote, withBGL 5,000 face value, issue 1996, to be used as legal tender.
12 June Under the June 1996 regulation, commercial banks’ minimum reserve requirementswere set at 9% on funds attracted, 9.5% and 10% for July and August respectively.
13 June As of 14 June, the interest rate on commercial banks’ current accounts with the BNBwas set at 36% per annum.
17 June Pursuant to Article 70, paras. 2 and 3 in connection with para. 4 and Article 71 of theLBCA, the BNB Board ascertained the insolvency of Private Agricultural and Invest-ment Bank Ltd. and applied to the Sofia City Court to institute bankruptcy proceed-ings against the bank.
Pursuant to Article 70, paras. 2 and 3 in connection with para. 4 and Article 71 of theLBCA, the BNB Board ascertained the insolvency of Crystalbank Ltd. and applied tothe Smolyan District Court to institute bankruptcy proceedings against the bank.
160
161
Pursuant to Article 70, paras. 2 and 3 in connection with para. 4 and Article 71 of theLBCA, the BNB Board ascertained the insolvency of Agrobusinessbank Ltd. andapplied to the Plovdiv District Court to institute bankruptcy proceedings against thebank.
20 June Pursuant to Article 46 of the Law on the BNB, the MF received a credit line of up toBGL 10 billion. The basic interest rate was applied on the loan.
27 June Pursuant to Article 5 of the Law on the State Savings Bank in connection with Ar-ticle 3 of the LBCA, bank requirements and regulations were to be enforced to theState Savings Bank, taking into account the specific nature of this institution.
11 July Bulgarian-American Credit Bank Ltd., headquartered in Sofia, with capital ofBGL 450 million, was granted a restricted license to conduct bank transactions underArticle 1, para. 2, items 2, 3, 4, 7 and 10 of the LBCA domestically and abroad. Bul-garian-American Credit Bank Ltd. may extend credits only to the amount of its ownfunds.
12 August Regulations on Government Securities Central Depository were adopted.
15 August Regulations No. 8 on the capital adequacy of banks were amended as follows: thepaid-in portion of the subscribed capital by the moment of issuing a permit (license)for a bank must be at least BGL 1,400 million for a bank making domestic transac-tions and BGL 2,200 million for a bank making transactions in the country andabroad.
20 August As of 20 August 1996, the admissible amount of minimum reserve requirements to beused by commercial banks was decreased from 50% to 20% of required reservesunder the current regulation.
3 September Pursuant to Article 46 of the Law on the BNB and the Amendments to the 1996 StateBudget Law, the BNB extended an interim loan to the MF, totaling BGL 6,529 mil-lion, value date 4 September 1996, repayable by 4 December 1996. The basic inter-est rate was applied on the loan.
As of 4 September 1996, the admissible amount of minimum reserve requirements tobe used by commercial banks was reduced from 20% to 10% of required reserves un-der the current regulation.
11 September Pursuant to Article 46 of the Law on the BNB and the Amendments to the State Bud-get Law of 1996, the BNB extended an interim loan to the MF, totaling BGL 5 bil-lion, value date 11 September 1996, repayable by 11 December 1996. The basic in-terest rate was applied on the loan.
12 September To go into effect under the August regulation based on balance-sheet data, commer-cial banks were allowed to hold in foreign currency up to 100% of the minimum re-serve requirements on attracted funds in foreign currency.
23 September The BNB Board adopted a package of measures aimed at recovering by rehabilitationand restructuring the financial stability and credibility in the banking system.The package was developed in compliance with commitments assumed in conjunc-tion with the government of the Republic of Bulgaria under the standby arrangementfor supporting financing concluded with the International Monetary Fund. The BNBrelied to a great extent on the implementation by the government of its program forrapid privatization as a financial basis for deposit insurance and for the reduction ofgovernment debt and the increase of foreign exchange reserves.1. For the purpose of recovering credibility in the banking system, the BNB:
a) placed under conservatorship: TSBank, Balkanbank, Economic Bank, BusinessBank, Elite Bank, Slavyani Commercial Bank, Mollov Commercial Bank, YambolCommercial Bank, Dobrudja Commercial Bank;b) adopted measures for restructuring the Bank for Agricultural Credit.2. To regain confidence in the Bulgarian lev providing real positive interest rate ondeposits, the BNB Board set the following basic interest rate: 25% per month (300%per annum) effective as of 24 September 1996. Commercial banks were recom-mended to increase interest rates on deposits and their government securities portfo-lio.3. To ensure normal operation of the payments system, the BNB restored commercialbanks’ right to use up to 50% of their minimum reserve requirements on an averagemonthly basis.4. The BNB was to support all commercial banks, provided the banks had depletedtheir highly liquid resources in levs and foreign exchange and had faced temporarydifficulties in meeting their obligations. The following market-based monetary in-struments were to be used:a) purchases of government securities in the open market (repo-operations and out-right deals);b) secured refinancing in levs against government securities as collateral;c) unsecured lev-denominated refinancing.5. The BNB was to provide opportunities for commercial banks with increased li-quidity to make safe and high-yielding market investments by:a) sales of government securities from the BNB portfolio (outright sales or reverserepo-operations);b) accepting foreign exchange on deposit or current accounts with the BNB at pref-erential interest rates.6. The BNB was to participate in the foreign exchange market, assisted in the fore-seeable future by receipts from the privatization program announced by the govern-ment.7. The BNB was to support credibility in government securities as an instrument forgovernment budget financing within the amount provided for by law, by means of:a) participation, if necessary, in the primary market at market-determined prices;b) expanding sales of target government securities to households.
15 October Pursuant to Article 46 of the Law on the BNB and the Amendments to the 1996 StateBudget Law, the central bank extended an interim loan to the MF, totaling BGL 6billion, value date 15 October 1996, repayable within three months but no later than31 December 1996. The basic interest rate was applied on the loan.
17 October As of 18 October 1996, the BNB Board set the monthly basic interest rate at 20%.
To go into effect under the October regulation, cash holdings in levs on account 5011‘Cash in Hand’ of commercial banks and the SSB qualify as minimum reserve re-quirements with up to 100% of the actual amount in cash holdings, provided the re-leased funds from the minimum reserve requirements equal to 40% of cash holdingswould be used to purchase government securities at a price set by the BNB and withmaturity of over three months.
31 October As of 4 November 1996, the BNB Board set the monthly basic interest rate at 15%.
The Board of the BNB revoked the licenses of 22 financial houses due to violationsof banking laws and regulations.
7 November Pursuant to Article 6, para. 1 in connection with Article 5, para. 3, item 2 of the Lawon the Business Activity of Foreign Persons and Protection of Foreign Investment,Banca Agricola Mantovana, Mantova, Italy, was authorized to acquire voting regis-tered shares in the capital of Expressbank Ltd., Varna.
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163
14 November The BNB Board revoked the licenses for making bank transactions of four financialhouses due to violations of banking laws and regulations.
20 November The BNB sent a letter to the President of the Republic of Bulgaria, the Chairman ofthe National Assembly and the Prime Minister expressing its stance on the risks as-sociated with the establishment of a currency board in Bulgaria and suggested thaturgent consultations be held with independent international financial experts on thematter.
21 November Pursuant to Article 25 of the Law on the BNB, as of 9 December 1996 the BNBBoard put into circulation as legal tender a banknote of BGL 10,000 nominal value,issue 1996.
22 November The BNB Board revoked the licenses of three financial houses and one exchangebureau due to violations of banking laws and regulations.
The BNB Plenary Council approved the final audit report of Deloitte & Touchewhich carried out an international audit of the central bank in compliance with a de-cision by the National Assembly.
25 November In response to MF Draft Law on Amendments to the State Budget Law of the Repub-lic of Bulgaria enabling government to draw a direct credit of BGL 115 billion, theBNB sent a letter to the Minister of Finance and the Chairman of the National As-sembly Budget Commission expressing the central bank’s disapproval in principlewith the inflationary way of budget deficit financing.
28 November The BNB Board revoked the licenses for making bank transactions of four financialhouses and three exchange bureaus due to violations of banking laws and regula-tions.
12 December To go into effect under the November regulation, commercial banks were allowed totransfer minimum reserve requirements in foreign currency up to 100% on attractedfunds in foreign currency, provided the released funds from minimum reserve re-quirements in levs (as of the preceding period of regulation) would be used to pur-chase government securities from the BNB, issued under Regulations No. 5, with ma-turity of over one year, at the current market price for the day.
The BNB Board revoked the licenses for making bank transactions of four financialhouses due to violations of banking laws and regulations.
19 December As of 27 December 1996, the BNB Board set the admissible amount of minimum re-serve requirements to be used by commercial banks at 40% of required reserves un-der the current regulation.
The BNB Board revoked the licenses for making bank transactions of two financialhouses and 30 exchange bureaus due to violations of banking laws and regulations.
27 December Pursuant to § 1 and 5 of the Amendments to the 1996 State Budget Law, the centralbank extended a loan to the MF, totaling BGL 55 billion, value date 27 December1996, repayable within 15 years with a 5-year grace period. The basic interest ratewas applied on the loan.
28 December Pursuant to § 1 and 5 of the Amendments to the 1996 State Budget Law, the BNB ex-tended two direct loans to the MF, totaling BGL 24 billion, value date 29 December1996, and BGL 36 billion, value date 30 December 1996, repayable within 15 yearswith a 5-year grace period. The basic interest rate was applied on the loans.
