{"id":55553,"date":"2021-11-24T07:56:40","date_gmt":"2021-11-24T04:56:40","guid":{"rendered":"https:\/\/www.bghaber.org\/bghaber\/?p=55553"},"modified":"2021-12-07T01:39:58","modified_gmt":"2021-12-06T22:39:58","slug":"bulgaristan-borclanmaya-devam-ediyor","status":"publish","type":"post","link":"https:\/\/www.bghaber.org\/bghaber\/bulgaristan-borclanmaya-devam-ediyor\/","title":{"rendered":"Bulgaristan bor\u00e7lanmaya devam ediyor"},"content":{"rendered":"<p>Bulgaristan her Pazartesi bor\u00e7 almaya devam ediyor. \u0130\u00e7 bor\u00e7tan bahsediyoruz, yani devlet yerel bankalar, emeklilik \u015firketleri ve ba\u015fka kurumsal yat\u0131r\u0131mc\u0131lardan bor\u00e7 al\u0131yor. D\u00fcn, Bulgaristan Merkez Bankas\u0131 BNB\u2019nin i\u00e7 finans piyasas\u0131na 500 milyon leva (255 milyon avro) tutar\u0131nda yeni bir bor\u00e7 s\u00fcrmesi ile bu e\u011filime yeniden \u015fahit olduk. \u015eu ana kadar toplam 3,3 milyar leva (1,7 milyar avro) tutar\u0131nda devlet tahvili piyasaya s\u00fcr\u00fcld\u00fc.\u00a0 Bir y\u0131l i\u00e7inde Bulgaristan\u2019\u0131n 11\u2019ci a\u00e7\u0131k artt\u0131rmas\u0131 ile, d\u00fcn sat\u0131lan tahvillerle birlikte y\u0131l i\u00e7in toplam bor\u00e7 3,8 milyar leva (1,94 milyar avro) oldu. Son d\u00f6nemlerde bor\u00e7lanma senetlerinin sat\u0131\u015f\u0131na y\u00f6nelik yap\u0131lan a\u00e7\u0131k art\u0131rmalar, y\u0131l sonunda beklenen b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 ile a\u00e7\u0131klanabilir. Investitor.bg ekonomi sitesinde yay\u0131nlanan bilgiye g\u00f6re, son b\u00fct\u00e7e g\u00fcncellemesinin ard\u0131ndan y\u0131l\u0131n sonunda devlet hazinesinde 4,7 milyar leva (2,4 milyar avro) a\u00e7\u0131k olmas\u0131 bekleniyor.<\/p>\n<p><b>\u0130\u00e7 bor\u00e7 b\u00fcy\u00fcmeye devam edecek mi ve bu durum devletin finansal istikrar\u0131 i\u00e7in tehlikeli mi?\u00a0<\/b>Yasaya g\u00f6re, bu y\u0131l i\u00e7in belirlenen devlet borcunun tavan\u0131 4,5 milyar leva (2,3 milyar avro) ve bu tavan parlamentonun izni olmadan a\u015f\u0131lamaz. Yani bu \u015fekilde y\u0131l sonuna kadar devlet borcu olarak s\u00fcr\u00fclebilecek, ancak piyasaya s\u00fcr\u00fclmemi\u015f olan 700 milyon leva (358 milyon avro) kal\u0131yor.<\/p>\n<p>Y\u0131l i\u00e7inde kamu borcunun dinamik b\u00fcy\u00fcmesine ra\u011fmen, bir\u00e7ok analiz uzman\u0131na g\u00f6re, bor\u00e7 boyutu \u00fclkenin makroekonomik istikrar\u0131 i\u00e7in ciddi bir tehlike olu\u015fturmuyor. Bu durum bir yandan 10,6 milyar leva (5,42 milyar avronun \u00fczerinde) olan mevcut mali rezervle, di\u011fer yandan b\u00fct\u00fcn olarak \u00fclkenin nispeten d\u00fc\u015f\u00fck bor\u00e7luluk seviyesi ile a\u00e7\u0131klanabilir.<\/p>\n<p>Piyasa Ekonomisi Enstit\u00fcs\u00fc\u2019nden ekonomist L\u0131\u00e7ezar Bogdanov, \u201cK\u00f6t\u00fc gerek\u00e7elendirilmi\u015f histerinin faydas\u0131 yok ve Bulgaristan\u2019\u0131 Avrupa ile k\u0131yaslay\u0131nca bor\u00e7lulu\u011funun \u00f6nemli \u00f6l\u00e7\u00fcde daha d\u00fc\u015f\u00fck oldu\u011fu anla\u015f\u0131l\u0131yor. 2021 y\u0131l\u0131 sonu AB i\u00e7in bor\u00e7 ve GSY\u0130H aras\u0131ndaki oran ortalama % 91, Euro b\u00f6lgesi i\u00e7im % 98 olurken, Bulgaristan i\u00e7in % 24,7\u201d dedi.<\/p>\n<p>Her borcun bir beledi oldu\u011funu unutmamak gerekir, yani anapara tutar\u0131n\u0131n d\u0131\u015f\u0131nda, faiz de var. Bu yat\u0131r\u0131mc\u0131lar i\u00e7in gelir, bor\u00e7 alanlar i\u00e7in ek bir giderdir. \u015eu anda faiz oranlar\u0131 son derece d\u00fc\u015f\u00fck oldu\u011fundan, piyasa ko\u015fullar\u0131 bor\u00e7lular\u0131n lehine.<\/p><div id=\"bghab-186091044\" class=\"bghab-icerik-icine bghab-entity-placement\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6203283170189293\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-client=\"ca-pub-6203283170189293\" \ndata-ad-slot=\"7303146466\" \ndata-ad-layout=\"in-article\"\ndata-ad-format=\"fluid\" data-full-width-responsive=\"true\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div>\n<p>Money.bg sitesinin mali g\u00f6zlemcisi Pet\u0131r \u0130liev, \u201cnispeten b\u00fcy\u00fck mali rezerv ve artan b\u00fct\u00e7e gelirleri ile Maliye Bakanl\u0131\u011f\u0131, piyasay\u0131 s\u00fcresini azaltarak ve kar oran\u0131n\u0131 artt\u0131rarak devlet tahvilleri ile doldurdu. \u00a0\u015eimdilik bu fiyat Maliye Bakanl\u0131\u011f\u0131 taraf\u0131ndan kabul edilir olarak de\u011ferlendiriliyor\u201d dedi. Ge\u00e7ici h\u00fck\u00fcmette Maliye Bakan\u0131 Valeri Bel\u00e7ev\u2019e g\u00f6re, yeni bor\u00e7lar eski bor\u00e7lar\u0131 kapatmak i\u00e7in, y\u00fckselen sosyal giderleri, salg\u0131nla ilgili \u00e7\u0131kan ilave harcamalar\u0131 ve tar\u0131m alan\u0131ndaki \u00f6demelerin yap\u0131labilmesi i\u00e7in al\u0131n\u0131yor. Bunlar, kamu borcunun bir nebze b\u00fcy\u00fcmesi pahas\u0131na, yap\u0131lmas\u0131 gereken harcamalar.<\/p>\n<p>Ge\u00e7ici h\u00fck\u00fcmetin devlet borcunu piyasaya s\u00fcrerken neden i\u00e7 finans piyasas\u0131 yerine yabanc\u0131 finans kurulu\u015flar\u0131na y\u00f6nelmedi\u011fi sorusu sorulabilir. Bu y\u00f6ntemin ge\u00e7mi\u015fte s\u0131k\u00e7a kullan\u0131ld\u0131\u011f\u0131ndan dolay\u0131, \u015fu anda h\u00fck\u00fcmetin d\u0131\u015f br\u00fct borcu 8 milyar avronun \u00fczerinde.<\/p>\n<p>\u00c7eviri: Bedriye Haliz<\/p>\n<div id=\"bghab-1406809874\" class=\"bghab-yazi-altinda bghab-entity-placement\"><div class=\"bghab-adlabel\">Reklamlar<\/div><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- bghaber-yaz\u0131-sonu -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6203283170189293\"\r\n     data-ad-slot=\"4222328180\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><br style=\"clear: both; display: block; float: none;\"\/>","protected":false},"excerpt":{"rendered":"<p>Bulgaristan her Pazartesi bor\u00e7 almaya devam ediyor. \u0130\u00e7 bor\u00e7tan bahsediyoruz, yani devlet yerel bankalar, emeklilik \u015firketleri ve ba\u015fka kurumsal yat\u0131r\u0131mc\u0131lardan bor\u00e7 al\u0131yor. D\u00fcn, Bulgaristan Merkez<\/p>\n","protected":false},"author":13,"featured_media":1848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9,1],"tags":[],"class_list":["post-55553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","category-haberler"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.bghaber.org\/bghaber\/wp-content\/uploads\/2013\/05\/para.jpg?fit=1366%2C768&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pc2PfJ-es1","_links":{"self":[{"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/posts\/55553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/comments?post=55553"}],"version-history":[{"count":0,"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/posts\/55553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/media\/1848"}],"wp:attachment":[{"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/media?parent=55553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/categories?post=55553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bghaber.org\/bghaber\/wp-json\/wp\/v2\/tags?post=55553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}