# Bulgaria Credit Rating & Sovereign Risk Score

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.

- Source: Makrognosis sovereign credit model
- Makrognosis code: `CREDIT:BG`
- Scale: 0–100 (100 = strongest credit); grade equivalent is model-implied
- Page: https://makrognosis.robomacro.com/data/bulgaria/credit-rating

## Score history

| Date | Score | Grade equivalent |
|---|---:|---|
| 2026-11-09 | 57.3 | BBB- |
| 2026-10-01 | 57.7 | BBB |
| 2026-07-31 | 57.7 | BBB |
| 2026-07-30 | 57.4 | BBB- |
| 2026-07-26 | 59.5 | BBB |
| 2026-06-21 | 62.3 | BBB |
| 2026-06-18 | 59.5 | BBB |

## Inputs

| Input | Value |
|---|---:|
| GDP per capita | US$21,473 |
| Real GDP growth, 5-year average | 3.5% |
| Inflation, recent average | 4.4% |
| Government debt | 28.7% of GDP |
| Fiscal balance | −4.0% of GDP |
| Current account balance | −6.1% of GDP |
| External debt | 55.1% of GDP |
| Foreign-exchange reserves | 7.2 months of imports |
| Net international investment position | −4.0% of GDP |
| Governance (World Bank WGI composite) | 0.0518 |

## API

```
GET https://makrognosis.robomacro.com/v1/credit/BG
```