The main contribution to the decrease in reserve assets was made by the fulfillment of external debt servicing obligations. According to NBM data, in May, debt payments amounted to 136.78 million euros, which more than doubled the amount of payments to external creditors in April. In addition, net outflow of bank reserves, payments of the Ministry of Finance, and revaluation of the investment portfolio outweighed the positive balance of inflows.
Balancing the value of assets was a net inflow of funds to the accounts of the Ministry of Finance in the form of counterpart budget support totaling €28.41 million. In May, money was received from the Government of Canada (€24.88 million), from the Government of Slovakia (€0.05 million), and loans and grants for investment projects (€3.48 million).
The appreciation of exchange rates against the euro (€18.73 million), income from the management of foreign exchange reserves (€3.51 million) and a number of other receipts reduced the negative balance of foreign exchange reserves.
Official foreign exchange reserves decreased by a total of €398.7 million in the first five months of 2025 (-€200 million in the first quarter). The reasons for the decrease are the same – servicing of external debt obligations, depreciation of the US dollar against the Euro and insignificant external loans and grants.
