Croatia’s gross external debt reaches 45.2 billion euros at the end of March

ZAGREB (Croatia), June 30 (SeeNews) – Croatia’s gross external debt stood at 45.2 billion euros ($47.1 billion) at the end of March, up 600 million euros from end of December, central bank figures revealed on Thursday.

“The increase is the result of debt growth in all domestic sectors except the central bank, whose gross stock of external debt fell by €500 million due to a reduced volume. repo transactions,” the central bank said in a statement.

On the other hand, increases were recorded in the gross external debt of credit institutions (600 million euros), other national sectors, including commitments to creditors affiliated abroad (300 million euros) and the State (200 million euros).

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

The Croatian economy grew by 7% year-on-year in real terms in the first quarter of this year.

In March, the gross external debt increased by 3.9% over one year and fell by 2.4% in monthly comparison.

Net external debt stood at €4.9 billion (8.3% of GDP) at end-March, up 4.3 percentage points from end-December 2021.

($=0.960 euros)

Shirlene J. Manley