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Photograph: Photo by janeb13, used under CC0

Croatia's government debt at the end of first quarter of 2016 amounted to HRK 188,35 billion which is HRK 4.7 billion or 1.6% less on the year, the statistical office of the European Union Eurostat reported on Friday.

It is also the first decrease of the governemnt debt on the year since those statistical data are being recorded, placing Croatia among EU member states with the largest decrease of the government debt, Eurostat said in a report.

According to the report released on Friday, the share of the government debt in GDP at the end of Q1 was 85.8%, while in the corresponding period last year it amounted to 89.1%.

The largest decreases were recorded in Ireland (-16.7 pp), the Netherlands (-4.3 pp), Denmark (-4.1 pp), Germany, Croatia and Malta (all -3.3 pp).

At the end of the first quarter of 2016, the government debt to GDP ratio in the euro area (EA19) stood at 91.7%, compared with 90.7% at the end of the fourth quarter of 2015.

In the EU28, the ratio decreased from 85.3% to 84.8%. Compared with the first quarter of 2015, the government debt to GDP ratio fell in both the euro area (from 93.0% to 91.7%) and the EU28 (from 88.1% to 84.8%).

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