December 6 (SeeNews) - Bulgaria's finance ministry said it plans to issue up to 10 billion levs ($5.78 billion/5.11 billion euro) worth of government securities next year under a 2022 budget draft that it will submit to parliament.
The proceeds will be used to refinance old debt and finance budget deficit stemming from social spending and support for the recovery of businesses from the pandemic, the finance ministry said in a statement on Friday.
The finance ministry noted it issued some 3.8 billion levs of gross domestic debt in the 11 months through November 2021, representing 84.4% of the limit of 4.5 billion levs set in the 2021 budget, the ministry said, adding no fresh debt is planned to be issued in December.
Bulgaria's new parliament formed as a result of November 14 snap election held its inaugural session last week.
(1 euro = 1.95583 levs)