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
Author: 

Related

Croatia's gross foreign debt exceeds EUR 49bn

Business

Friday, November 6, 2015 - 12:57

Gross foreign debt grows 4.1% on year

Business

Thursday, December 3, 2015 - 14:16

More from Croatia

Stier: Cyber-attack may have come from east, unrelated to PM's Ukraine visit

Foreign Minister Davor Ivo Stier said on Saturday that no strategic piece of information was compromised in a cyber-...

Subspace hostel with space pods opens in Zagreb

As of December 1, Zagreb has a new tourist attraction, the futuristic Subspace hostel, the first in the European...

Remaining Kiowa Warrior helicopters for Croatian army delivered

Eleven OH-58D Kiowa Warrior military helicopters were delivered to the Croatian Air Force base in Zemunik on...

Croatia needs change and SDP must start it, says opposition leader

Newly elected Social Democratic Party (SDP) president Davor Bernardic said in Zagreb on Saturday that Croatia needed...

Minister says buying controlling interest in INA worth the challenge

State property Minister Goran Maric said in an interview with the Jutarnji List daily on Saturday that the INA oil...