Makrognosis

Bulgaria Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:BG

Model score57 / 1009 Nov 2026
Grade equivalentBBB-model-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank52nd of 84economies scored

Makrognosis sovereign credit model scores Bulgaria at 57 out of 100 as of 9 November 2026, equivalent to BBB- on the familiar letter scale — investment grade.

The score is down 0.4 points from 58 on 1 October 2026.

That places Bulgaria 52nd of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 28.7% of GDP, a fiscal balance of −4.0% of GDP, a current account balance of −6.1% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Bulgaria sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026575859606162Robomacro
Bulgaria sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202657.3BBB-
1 October 202657.7BBB
31 July 202657.7BBB
30 July 202657.4BBB-
26 July 202659.5BBB
21 June 202662.3BBB
18 June 202659.5BBB
Get the Bulgaria sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/BG"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/BG",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Bulgaria, from official national and international statistics.

InputValueVintage
GDP per capitaUS$21,4732026
Real GDP growth, 5-year average3.5%2026
Inflation, recent average4.4%2026
Government debt28.7% of GDP2026
Fiscal balance−4.0% of GDP2026
Current account balance−6.1% of GDP2026
External debt55.1% of GDP2026
Foreign-exchange reserves7.2 months of imports2026
Net international investment position−4.0% of GDP2026
Governance (World Bank WGI composite)0.05182026

How Bulgaria compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
47Hungary9 Nov 202659
48Ghana9 Nov 202659
49Argentina9 Nov 202658
50Panama9 Nov 202658
51Trinidad and Tobago9 Nov 202657
52Bulgaria9 Nov 202657
53Jordan9 Nov 202657
54Guyana9 Nov 202657
55Thailand9 Nov 202657
56Bahrain9 Nov 202656
57Brazil9 Nov 202656
58Mexico9 Nov 202656

All 84 economies ranked →

Bulgaria economic indicators

Bulgaria GDP (Gross Domestic Product)Bulgaria Gross domestic product, Current prices, million EURBulgaria Inflation Rate (CPI)Bulgaria Core Inflation RateBulgaria Unemployment RateBulgaria 10-Year Government Bond YieldBulgaria Industrial ProductionBulgaria Retail SalesBulgaria Producer Price Inflation (PPI)Bulgaria Current account balance (BPM6, vs rest of world), not seasonally adjustedBulgaria Current account balance, % of GDPBulgaria Trade Balance: Goods & ServicesBulgaria Exports of goods and services, Current prices, million EURBulgaria Exports of goods and services, chain-linked volumeBulgaria Exports of goods, total trade (World), seasonally adjustedBulgaria Imports of goods and services, Current prices, million EUR

FAQ

What is Bulgaria's credit rating?
Makrognosis sovereign credit model scores Bulgaria at 57/100 as of 9 November 2026, equivalent to BBB- (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/BG returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.