Bulgaria, Slovenia and Macedonia were the only countries that managed to reduce their general government external debt last year, while all other countries in the region registered an increase, reports of the Word Bank and the countries’ national statistical offices showed.
Sep 5, 2008 12:45 CET
Bulgaria, Slovenia and Macedonia were the only countries that managed to reduce their general government external debt last year, while all other countries in the region registered an increase, reports of the Word Bank and the countries’ national statistical offices showed.
Romania, which is the biggest country in the region, is also the most indebted in southeast Europe with a total general government debt of $52.7 billion (36.93 billion euro) at the end of 2007. It is followed by Serbia with an external debt of $26.2 billion.
Croatia ranked third with debt of nearly $9.9 billion, while Bulgaria and Slovenia reported comparable amounts of general government debt at $4.4 billion.
Not surprisingly, Macedonia and Moldova’s liabilities were below the one billion dollars mark - $910 million and $766 million, respectively.
The region showed an overall moderate level of indebtedness with Serbia being in most dangerous position regarding the level of state foreign debt, according to experts from the World Bank and the International Monetary Fund.
($=0.7009 euro)
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