Foreign debt in April drops over 10 pct annually

According to the latest central bank figures, the gross foreign debt amounted to EUR 44.4 billion at the end of April 2016, up 0.2% on the month but down 10.6% on the year, Raiffeisenbank Austria (RBA) said on Monday.

Although going up from March, which stopped a five-month consecutive decrease on a monthly basis, in April 2016 the gross foreign debt continued to decrease year on year, RBA said.

The year-on-year decrease was mainly due to other monetary financial institutions, whose debt went down to EUR 5.5 billion at the end of April 2016 (-4.2% on the month and -33.1% on the year), primarily due to the continuation of the deleveraging of the banking sector which began in May 2012.

The general government's gross foreign debt went down to EUR 14.9 billion at the end of April 2016, down 1.6% on the month. In March, it decreased annually for the first time since May 2009, by 8.9%, continuing to fall in April, by 8.4%.

The gross foreign debt of the public sector, including non-financial companies, totalled EUR 18.7 billion at the end of April 2016, down 0.1% on the month and 7.3% on the year. Other domestic sectors' gross foreign debt stood at EUR 16.2 billion, down 1.5% on the year.

RBA expects the 2016 gross foreign debt to GDP ratio to be lower than in 2015.

(EUR 1 = HRK 7.49)

Last update: Mon, 08/08/2016 - 10:34
Author: 

More from Croatia

Croatia launches trilateral cooperation in Adriatic with Montenegro and Albania

Croatia has launched trilateral cooperation with Montenegro and Albania in the economy and environmental protection...

Croatian President: Thousands of IS fighters returning to Bosnia

Croatian President Kolinda Grabar-Kitarovic said in Dubrovnik on Tuesday that one should face the fact that...

Croatia's food industry records 43.7% increase in net profit

Croatia's food industry generated a consolidated net profit of HRK 931.5 million in 2015, which was an annual...

Croatia records highest Q3 GDP growth in EU

The European Union's economy grew by 0.4% in the third quarter of 2016 compared with the previous quarter, and...

Croatian footballer under investigation for tax evasion in Spain

The captain of Croatia's national football team and a member of the Real Madrid squad, Luka Modric (31), has come...