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Photograph: Photo by Damien Smith, used under CC BY-SA

In 2015 Croatia remained among the European Union member states with a relatively high share of government debt financed by debt securities and a significant proportion of debt held by the resident financial corporations sector, Eurostat reported on Tuesday.

In 2015, debt securities were the main financial instrument in almost all EU Member States with the exception of Estonia, Greece and Cyprus, where loans largely prevailed - 89%, 78% and 69% respectively.

The use of loans was also high in Luxembourg (42%), Portugal (39%) and Croatia (37%), Eurostat reported.

By far the largest proportion of general government gross debt mainly financed by debt securities occurred in Malta  (92% of total government debt), the Czech Republic (90%), the United Kingdom (89%), Hungary, Slovenia and Slovakia (all 85%), France and Italy (both 84%).

In Croatia, the share of debt securities in financing government debt in 2015 amounted to almost 63%, Eurostat's report notes.

The use of currency and deposits was general very low and Croatia did not use these instruments in 2015.

With slightly more than a quarter (27%) of total government debt having a term below one year, Sweden registered the highest proportion of short-term initial maturities of debt among the Member States for which data are available. Hungary (15%), Italy and Portugal (both 14%) as well as France (11%).

In Croatia, the share of short term maturities of up to one year in 2015 amounted to 6.7%.

The largest proportion of debt held by the resident financial corporations sector was recorded in Denmark (63%), ahead of Luxembourg and Malta (both 62%), Italy (60%), Croatia and the United Kingdom (both 59%).

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