Croatia's gross foreign debt reaches 107.6 pct of GDP

Croatia's gross foreign debt at the end of the third quarter of 2015 was EUR 47 billion, or 107.6 per cent of GDP, with general government debt accounting for a third of that amount, the latest Croatian National Bank (HNB) figures show.

Compared with the end of the third quarter of 2014, gross foreign debt increased by EUR 480 million or 1 per cent, while in comparison with the end of 2014 it rose by EUR 327 million or 0.7 per cent.

"The continued annual growth of gross foreign debt is predominantly the result of comparatively high obligations towards foreign creditors, as confirmed by data on the foreign debt of the general government sector, which reached EUR 15.7 billion at the end of September last year, accounting for as much as a third of Croatia's total foreign debt," analysts at Raiffeisenbank Austria (RBA) said on Thursday.

Although gross foreign debt decreased by EUR 169 million or 1.1 per cent in September compared with August, government foreign debt increased by EUR 531 million, or 3.5 per cent, compared with September 2014. 

Government foreign debt has thus continued to grow since mid-2009, RBA analysts said.

Last update: Thu, 14/01/2016 - 12:04
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