According to the latest central bank figures, Croatia's public debt at the end of October 2016 went down to HRK 287.4 billion, recording a decrease on the year for the eighth consecutive month, Raiffeisen Bank Austria (RBA) said in its analysis on Thursday.
The government on Thursday adopted a Strategy for the Management of Public Debt in the 2017 - 2019 period which foresees a reduction of the share of public debt in Gross Domestic Product (GDP) at the end of that period to 75.3%.
Croatia's public debt at the end of September 2016 was HRK 289.1 billion, 1.2 billion less than at the end of September 2015, with the the debt-to-GDP ratio being 84.9%, according to figures published by Eurostat on Monday.
Croatia's public debt to GDP ratio fell to around 85% at the end of the third quarter of 2016, the first year that is expected to see a drop in public debt after its continued rise for eight years, the Croatian Chamber of Commerce (HGK) says in an analysis.
Croatia's public debt at the end of August 2016 amounted to HRK 209.3 billion, 1.3 billion or 0.4% less compared to the same month of 2015, and August was the sixth consecutive month to see an annual drop in public debt, show figures released by the Croatian National Bank (HNB).
The general government debt at the end of June 2016 was HRK 285.7 billion, 1.7 billion or 0.6% less than at the end of June 2015 and HRK 3.9 billion or 1.3% less than at the end of 2015, show the latest figures provided by the Croatian National Bank (HNB).
Croatia's public debt at the end of the first quarter of 2016 was HRK 288.3 billion, HRK 4.7 billion less on the year (-1.6%), which was the first public debt decrease annually since 1999, the Croatian Chamber of Commerce (HGK) said on Sunday.
In 2015 Croatia remained among the European Union member states with a relatively high share of government debt financed by debt securities and a significant proportion of debt held by the resident financial corporations sector, Eurostat reported on Tuesday.
General government debt increased by 1.9% in 2015 compared with 2014, 2.5 times less than in 2014. This is the lowest debt growth rate since the introduction of the ESA 2010 methodology in the Excessive Deficit Procedure. the DZS says.
Croatia's public debt in December 2015 was HRK 289.7 billion or 86.7% of GDP, stagnating monthly, but increasing annually by 1.9% or HRK 5.5 billion, analysts at Raiffeisenbank Austria (RBA) said in a report on Wednesday.
Croatia's public debt reached HRK 285.3 billion at the end of November 2015, representing 85.5% of the estimated GDP for 2015, while gross foreign debt totalled EUR 47.2 billion or 107.7% of GDP, the latest figures provided by the Croatian National Bank (HNB) show.
Croatian pension funds are interested in projects with which the government aims to reduce the budget deficit and public debt, but their interest is not unconditional, the heads of four mandatory pension funds said on Monday.
Prime Minister Tihomir Oreskovic said on Wednesday the priority regarding this year's budget was to reduce the public debt, adding that attempts would be made to reduce the deficit to three percent of GDP, with every option open and every card on the table.
The European Commission on Thursday revised upward its outlook of Croatia's growth in 2016 from a previous 1.4% to 2.1%, saying however that the pace of the recovery remained constrained by the still high stock of debt in both the private and public sectors.
Greece's public debt swung back up in the third quarter of last year, reaching 171 per cent of gross domestic product (GDP) and registering one of the largest quarterly increases in Europe, new data showed Friday.
"The rising general government debt is a source of concern," the Commission says, adding that according to its 2015 autumn forecast, it will reach 89.2% of GDP in 2015 and increase further to 92.9% by 2017.
The HGK said that public debt in September 2015 was up 5.9% on the year, caused mostly by the central government whose debt increased by 6.1%. Local government debt at the same time was reduced by 5.2%.