What If Bulgaria Paid Its Debt Today? €11,200 Burden On Every Household!
Source: Novinite.com (Sofia News Agency)
Bulgaria’s public debt has reached 62,771,629,088 leva, and if it were to be settled immediately, each of the country’s 2.8 million households would need to contribute approximately 21,904 leva (around €11,200). This calculation comes from the ValueKeeper.bg platform, an online “Debt Calculator” that visualizes the nation’s debt in real time, tracks its growth second by second, and projects future trends.
According to the tool, in 2025 Bulgaria’s debt increased at an average rate of about 85 leva per second, while in 2026 this pace is expected to accelerate to roughly 280 euros (€560) per second. Financial expert Max Baklayan, one of the tool’s creators, highlighted that this represents a sevenfold increase in debt accumulation compared to the previous year. Economist Stoyan Panchev added that within a year, the per-household debt could rise by another 10,000 leva (€5,100), underscoring the growing financial burden on citizens.
Currently, Bulgaria’s public debt amounts to 28.43% of GDP – well below the eurozone average – but the trend indicates a steady increase. New government borrowing is primarily financed through taxes such as VAT, excise duties, and social security contributions, as well as indirectly through inflation and potential depreciation of household savings. The developers of the calculator emphasize that the tool is designed to make the rapid growth of public debt tangible and to show its impact on everyday life.
Historical data presented by the calculator shows key milestones in Bulgaria’s debt history. The introduction of the currency board in 1997 brought debt down from over 244% of GDP to 96.7%. By the time of EU accession in 2007, debt had fallen to 16.3%. Major events like the 2014 Corpbank collapse increased debt to 27%, while the COVID-19 pandemic pushed it to 24.5%. Subsequent economic fluctuations brought the level to the current 28.5%, and entry into the eurozone in 2026 is expected to accelerate growth further, a pattern observed in other countries.
In comparison with other EU nations, Bulgaria maintains a relatively low debt level. While the average EU debt in 2025 is about 90% of GDP, Bulgaria remains below 29%. By contrast, Greece’s debt stands at 154.2%, France at 113.2%, and Spain at 101.6%. ValueKeeper.bg notes that such low debt levels are rarely sustained after euro adoption, often followed by a significant increase.
The calculator allows citizens, journalists, and analysts to monitor government debt both in absolute figures and as a share of GDP, and to assess trends within a European context. Panchev highlighted the importance of contextualizing Bulgaria’s macroeconomic situation, while Baklayan noted that the tool helps visualize complex financial dependencies for both experts and the general public.
The “Debt Calculator” is part of the “Guardian of Value” Museum exhibition in Plovdiv, offering visitors a real-time view of the country’s public debt and its implications for Bulgarian households.
The original article: belongs to Novinite.com (Sofia News Agency) .
