Bulgaria’s budget deficit widened to 4% of gross domestic product in 2025, while government debt climbed to 29.9% of GDP, according to the latest data from the National Statistical Institute (NSI).
The General Government sector reported a deficit of 9.122 billion leva (4.664 billion euros) for the year, alongside public debt totaling 68.057 billion leva (34.797 billion euros).
Central Government accounted for most of the shortfall, with a deficit of 8.891 billion leva, equivalent to 3.9% of GDP. The Local Government sub-sector recorded a deficit of 223 million leva, while Social Security Funds posted a shortfall of 8 million leva.
A comparison of the official notification tables shows that both Bulgaria’s budget deficit and public debt have continued to rise.
The deficit increased from 2% of GDP, or 3.684 billion leva, in 2023 to 3%, or 6.242 billion leva, in 2024, before reaching 4% in 2025. Public debt also rose sharply, climbing by nearly 20 billion leva in one year, from 48.851 billion leva, or 23.8% of GDP, in 2024 to 68.057 billion leva, or 29.9%, in 2025.
In 2022, General Government debt stood at just over 37.8 billion leva. Over the following three years, the country’s liabilities therefore increased by more than 30 billion leva. Bulgaria’s GDP also expanded, reaching 227.949 billion leva in 2025, NSI data show.
The statistics are compiled using a harmonized methodology applied across the European Union. Under the Council Regulation implementing the Protocol on the excessive deficit procedure, Bulgaria, like the other EU member states, must submit preliminary figures to Eurostat by March 31 and final data by September 30 each year.
Despite the increase, Bulgaria’s public debt remains among the lowest in the European Union.
Eurostat, the EU’s official statistical office, reported that Bulgaria’s debt-to-GDP ratio stood at 28.7% in the second quarter of 2026, placing the country among the lowest in both the eurozone and the EU. Only Estonia, at 26.1%, Denmark, at 27.1%, and Luxembourg, at 28.2%, recorded lower ratios.
The highest public debt ratios were registered in Greece at 140.8%, Italy at 139.9%, France at 119.1%, Belgium at 110.2%, and Spain at 101.4%.
Across the eurozone, public debt reached 88.8% of GDP in the second quarter of 2026, up from 88.4% in the first quarter and 87.3% in the second quarter of 2025.
Bulgaria’s debt ratio rose by 0.1 percentage points from 28.6% in the first quarter of 2026 and by 2.4 percentage points from 26.3% in the second quarter of 2025.