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Croatia's gross external debt reaches 45.2 bln euro end-March

Author Annie Tsoneva
Croatia's gross external debt reaches 45.2 bln euro end-March unsplash.com

ZAGREB (Croatia), June 30 (SeeNews) - Croatia's gross external debt stood at 45.2 billion euro ($47.1 billion) at the end of March, up by 600 million euro from the end of December, central bank's figures showed on Thursday.

“The increase resulted from the growth of debt of all domestic sectors, with the exception of the central bank, whose gross external debt stock dropped by 500 million euro due to a reduced volume of repo transactions,” the central bank said in a statement.

In contrast, increases were recorded in the gross external debt of credit institutions ( 600 million euro), other domestic sectors, including liabilities towards affiliated creditors abroad (300 million euro) and the government (200 million euro).

Although the debt grew in absolute terms, due to a sharp increase in the gross domestic product in the first quarter the relative indicator of gross external debt improved by 1.2 percentage points from the end of 2021, amounting to 76.7% of GDP at the end of March 2022, the central bank said.

Croatia's economy expanded by 7% year-on-year in real terms in the first quarter of this year.

In March, the gross external debt rose 3.9% on the year and fell 2.4% on a monthly comparison basis.

Net external debt amounted to 4.9 billion euro (8.3% of GDP) at the end of March, rising by 4.3 percentage points from the end of December 2021.

($=0.960 euro)

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