Croatia's end-2015 public debt at 86.7% of GDP

Croatia's public debt in December 2015 was HRK 289.7 billion or 86.7% of GDP, stagnating monthly, but increasing annually by 1.9% or HRK 5.5 billion, analysts at Raiffeisenbank Austria (RBA) said in a report on Wednesday.

Considering the higher nominal amount of GDP in 2015, the annual increase in the public debt to GDP ratio slowed considerably compared with previous periods, according to the report.

According to the latest Croatian National Bank (HNB) data, the public debt to GDP ratio at the end of 2015 was 86.7% of GDP, as against 86.5% at the end of 2014.

In 2015, Croatia's GDP grew by 1.6%, which was the first time the economy grew after six years of downturn.

The annual increase in public debt was mostly due to central government borrowing. At the end of last year, central government debt reached HRK 284.6 billion, which was an increase of HRK 5.8 billion or 2.1% from the previous year, RBA analysts said.

(EUR 1 = HRK 7.506798)

Last update: Wed, 06/04/2016 - 12:29
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