Bulgaria's gross external debt amounted to EUR 41.529 billion (61.8 per cent of the projected domestic product - GDP) at the end of December 2021. This is EUR 1.902 billion (4.8 percent) more than at the end of December 2020, according to data released by the BNB. At the end of December 2021, short-term liabilities amounted to EUR 6.7 billion (16.2 percent of gross debt or 10 percent of GDP) and increased by EUR 641.5 million (10.6 percent) compared to end-December 2020. Long-term liabilities amounted to EUR 34.8 billion (83.8 percent of gross debt, 51.8 percent of GDP), up EUR 1.26 billion (3.8 percent) compared to the end of December 2020. As of the end of December 2021, EUR 26 029.1 million (62.7%) of the gross external liabilities have a residual maturity of over one year. 82.5% of gross external debt was denominated in euros, compared to 85% a year earlier.

The increase in the price of electricity continues to raise production prices in Bulgaria in January. Producer prices rose 32.6% year on year in the first month of this year. This is shown by current data of the National Statistical Institute (NSI). In December the increase on an annual basis was 30.8%, and in November the annual increase reached 31%, which was a record since these statistics began to be kept in 2001. Last month, producer prices accelerated again to a new record. Producer price indices measure the average change in the prices of industrial products produced and sold by Bulgarian enterprises. They can be seen as an early measure of inflation. The NSI reports that the general producer price index in January grew by 3.2% on a monthly basis. For comparison, in December 2021 the increase was 1.7%, much less than in November compared to October - 8.4%.

ETEM Gestamp has invested over BGN 120 million in expanding its production at an electric vehicle components plant in Sofia. This became clear during an event organized by the company, which was attended by the Minister of Innovation and Growth Daniel Lorer. According to the company's new investment plans, the new base will develop technologies and build a fully automated internal logistics solution. In addition, the project will create over 130 jobs for qualified staff over the next 2 years. ETEM Gestamp is one of the few companies in Europe that produces aluminum profiles that meet the highest standards of the automotive industry. They are delivered to leading car manufacturers and equipment suppliers, including BMW, Audi, Daimler, Porsche and VW. The company has launched a number of new projects for the automotive industry, including a contract with a major German carmaker to produce aluminum elements for the battery box. They will be used in the manufacturer's new generation electric platform for the next 8 years.

The high-tech international company Limelight Networks will work in the data center SDC of the Bulgarian computer company Neterra, the Bulgarian company announced. The partnership will improve the user experience for thousands of Limelight viewers and customers in the Balkans and Eastern Europe. The company provides online solutions and audio-video content and web security. Neterra is a provider of telecommunications services. The company partners with both the world's largest companies and small and medium-sized businesses. The company owns and operates four data centers and its own global network with points of presence in over 20 countries.

Bulgaria's Industrial Capital Holding said that its consolidated net profit excluding minority interest went up to BGN 5.2 million in 2021 from BGN 3.2 million a year earlier. Industrial Capital Holding's profit after taxes, including interest attributable to other shareholders in the group's units, went up to BGN 24.6 million last year from BGN 17.4 million in 2020. The group's revenue rose to BGN 309.4 million from BGN 217.8 million in the review period, while expenses reached BGN 281.9 million at the end of 2021, compared with BGN 198.3 million at the end of the previous year, mainly due to higher expenses for materials. Industrial Capital Holding consolidates the results of two majority-owned units - machine manufacturer Siloma and supporting components producer Rubolt, as well as three affiliates - cable producer Emka, hydraulic equipment manufacturer M+S Hydraulic and abrasive tools producer ZAI.

The profit of the banking system in Bulgaria reached BGN 108 million at the end of January, increasing by 39.5% (BGN 31 million) on an annual basis, the Bulgarian National Bank reported. Last year the banks made a profit of BGN 1.4 billion. Expenses for impairment of financial assets, which are not reported at fair value in profit or loss, at the end of last month reached BGN 37 million (compared to BGN 36 million a year earlier). According to the central bank, in January the assets of the banking system increased by BGN 735 million (0.5%) to BGN 136.1 billion. In their structure, the share of loans and advances increased to 63.4% at the end of January, and that of the position money, cash balances with central banks and other demand deposits decreased to 15.9% (with a share of 58.2% and 21% respectively at the end of December 2021). Debt securities account for 16.1% of total assets (16.3% at the end of December 2021). The liquidity ratio increased to 304.5% at the end of January 2022 (from 274.1% at the end of December 2021). The liquidity buffer is BGN 34.3 billion and the net outgoing liquidity flows are BGN 11.3 billion (compared to BGN 41.5 billion and BGN 15.1 billion at the end of December 2021, respectively).

The biomass thermal power plant in Ihtiman will receive a new development opportunity. On March 15, the trustee in bankruptcy of the bankrupt company will offer it at a public auction with a starting price of BGN 753 thousand. The main secured creditor, Debt Collection Agency, part of B2Holding, is also open for talks for the sale of receivables, together with the collateral. The plant, which is located next to the railway station of the city, has not stopped working since its opening in 2010. It is currently relied on by dozens of consumers, mainly municipal and state institutions, and the municipality of Ihtiman notes a significant reduction in heating costs for municipal buildings and a noticeable drop in air pollution. The boiler of TPP Ihtiman has a capacity of 3 MW of thermal energy. The supplier of all the equipment of the plant is the company Biomax - Austria.

Shell Plc is exiting its Russian gas ventures, including a massive liquefied natural gas facility, after the invasion of Ukraine changed the rules of engagement between Western companies and Moscow. The decision follows a similar move by BP Plc, which announced on Sunday that it will dump its stake in state-run oil producer Rosneft PJSC, taking a financial hit of as much as $25 billion. Shell is ending its partnerships with Gazprom PJSC, another Kremlin-controlled giant with a leadership closely tied to Russian President Vladimir Putin. “Our decision to exit is one we take with conviction,” Shell Chief Executive Officer Ben van Beurden said. “We cannot -- and we will not -- stand by.” The move comes after pressure from the U.K. government, which along with the U.S. and other allies is seeking to squeeze Russia’s economy and convince Putin that his invasion of Ukraine will mean financial ruin. Shell didn’t give any information about the size of the financial hit it could take from exiting Russia, but said its non-current assets in the ventures amounted to $3 billion.

Canadian Prime Minister Justin Trudeau announces a ban on Russian oil imports, saying oil revenues have helped to prop up Russian President Vladimir Putin and Russian oligarchs. “Today, we are announcing a ban on all imports of crude oil from Russia, an industry that has benefited President Putin and his oligarchs greatly,” Trudeau tells a news conference. “And while Canada has imported very little amounts in recent years, this measure sends a powerful message,” he adds. In 2019, Canada imported 17,870 barrels of Russian crude oil per day, which accounted for about 2.6 percent of all oil imports into Canada. However, in 2020, imports fell to almost zero, according to the Canadian government. Yesterday, Canada also announced that it would send weapons to Ukraine, mostly anti-tank weapons, which will be delivered as soon as possible, said Canadian Minister of National Defense Anita Anand.

Toyota Motor halted operations at all of its plants in Japan after a major supplier was hit by a cyberattack, disrupting the automaker's parts supply management system. The decision to pause production starting Tuesday affects a total of 28 production lines for Toyota. Subsidiaries Hino Motors and Daihatsu were also forced to halt some operations in Japan. It's not clear when production will restart. Kojima Industries, the supplier hit with the attack, told Nikkei in a statement it was assessing the situation. Toyota confirmed the production pause, calling the cause a "system failure at a domestic supplier." The company estimates the impact to production in Japan to be approximately 13,000 vehicles, and says it "will continue to work with our suppliers to strengthen the supply chain and make every effort to deliver vehicles to our customers as soon as possible." It's unclear at this time who was behind the attack or their motives, but Toyota confirmed there's no impact to its production facilities in North America at this time.