Croatia's gross external debt declines y/y at end-Jan - RBA

Croatia's gross external debt declines y/y at end-Jan - RBA License: Creative Commons CC0

ZAGREB (Croatia), May 7 (SeeNews) - Croatia's gross external debt fell to 40 billion euro ($47.7 billion) as at end-January, down 5% year-on-year, Raiffeisenbank Austria Zagreb (RBA) said on Monday.

The drop in gross foreign debt at the annual level is primarily due to a 6% decline in the liabilities of private companies to 9.8 billion euro at the end of January, RBA said in a statement, quoting data of Croatia's central bank.

Compared with the end-2017 figure, Croatia's gross external debt was 0.1% higher

The external component of general government debt was 5.6% lower year-on-year as at end of January, standing at 13.9 billion kuna.

RBA expects Croatia's foreign debt to continue declining throughout 2018, as companies are expected to borrow on the domestic market. 

Therefore, Croatia's gross external debt-to-GDP ratio is expected to stand at below 80% at the end of 2018, RBA said. 

($ = 0.838435 euro)

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