June 7 (SeeNews) - Croatia plans to borrow 58.8 billion kuna ($8.978 billion/7.93 billion euro) this year in short- and long-term debt to service its total 2019 financing needs of 63.1 billion kuna, the government said.
These volumes are higher than in 2018 when the government borrowed a total of 41.9 billion kuna toward its overall financing needs of 44.8 billion kuna, the 2019-2021 public debt management strategy document adopted by the government on Thursday and posted on the finance ministry's website showed.
In particular, the government will issue 28.7 billion kuna worth of Treasury bills in 2019.
The long-term borrowing, on the other hand, will comprise of 13.1 billion kuna of domestic bond sales and 5.6 billion kuna credits withdrawal on the domestic market. The government also plans to collect a total of 11.5 billion kuna via issuing bonds and taking loans abroad.
Following is a table of Croatia's debt liabilities and sources of financing as given in the document:
DEBT LIABILITIES (in bln kuna) |
2017 |
2018 |
2019 |
2020 |
2021 |
Payments (1) |
55.314 |
34.678 |
52.768 |
52.631 |
49.473 |
-Short-term debt (T-Bills ) |
28.735 |
17.537 |
30.176 |
29.660 |
28.676 |
-Long-term debt |
26.579 |
17.141 |
22.592 |
22.971 |
20.797 |
--Domestic bonds in HRK |
9.500 |
6.000 |
|
5.000 |
6.000 |
--Domestic bonds in FX |
|
|
7.650 |
7.650 |
|
--Domestic credit |
7.304 |
4.742 |
3.605 |
2.656 |
5.597 |
--Foreign bonds |
8.524 |
5.550 |
10.500 |
6.883 |
8.432 |
--Foreign credits |
1.251 |
0.849 |
0.837 |
0.782 |
0.768 |
Other (loans and shares) (2) |
12.344 |
4.167 |
3.593 |
1.365 |
0.973 |
Budget deficit (3) |
2.292 |
0.192 |
4.188 |
1.372 |
-127 |
Money deposits (4) |
3.818 |
5.796 |
2.528 |
2.146 |
2.838 |
Total financing needs (1)+(2)+(3)+(4) |
73.768 |
44.833 |
63.077 |
57.514 |
53.157 |
SOURCES OF FINANCING (in bln kuna) |
2017 |
2018 |
2019 |
2020 |
2021 |
Borrowing (1) |
70.697 |
41.931 |
58.776 |
53.802 |
49.821 |
-Short-term (T-Bills) |
28.731 |
19.225 |
28.676 |
28.676 |
28.676 |
-Long-term debt |
41.966 |
22.706 |
30.100 |
25.126 |
21.145 |
--Domestic bonds in HRK and FX |
17.300 |
10.500 |
13.050 |
13.145 |
8.250 |
--Domestic credit |
4.011 |
6.482 |
5.573 |
3.290 |
4.600 |
--Foreign bonds |
18.936 |
5.531 |
10.485 |
6.872 |
8.173 |
--Foreign credits |
1.719 |
0.193 |
0.992 |
1.819 |
0.122 |
Other (repayment of principal on credits) (2) |
0.589 |
1.165 |
0.201 |
0.184 |
0.190 |
Privatisation revenues (3) |
0.117 |
0.120 |
1.001 |
1.000 |
1.000 |
Other (reduction in money deposits) (4) |
2.365 |
1.617 |
3.099 |
2.528 |
2.146 |
Total financing (1)+(2)+(3)+(4) |
73.768 |
44.833 |
63.077 |
57.514 |
53.157 |
(1 euro = 7.41881 kuna)