Croatia's total gross foreign debt at the end of June this year amounted to 43.4 billion euro, which is 5.4 billion euro or 11% less than at the end of June last year, the Croatian National Bank (HNB) reported on Tuesday.

The is the seventh consecutive month to see a decrease in Croatia's foreign debt on the year HNB said.

HNB further reported that compared with May this year, the gross foreign debt was reduced by 620.7 million euro or 1.4%. It was reduced by 2.1 billion euro in H1, being cut by 4.6% since the end of 2015.

Commenting on the HNB data analysts at the Croatian Chamber of Commerce (HGK) said that gross foreign debt had been decreasing since December last year and that over the past three months the rate of the decrease had accelerated to double-digits.

According to HNB the foreign debt by other monetary financial institutions at the end of June amounted to 5.4 billion euro, which is 2.7 billion euro or 33.5% less than at the end of June last year.

The state's external debt on the year decreased by 1.2 billion euro or 7.3% and at the end of June it amounted to 15.1 billion euro.

The foreign debt of other domestic sectors also decreased on the year by 443.5 million euro or by 2.7% to fall to 15.9 billion euro at the end of June.

(EUR 1 = HRK 7.5)

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