Thursday, 17 January 2019
Foreign debt continuing to fall Foreign debt continuing to fall Pixabay

Croatia’s foreign debt drops again but more work needed

By  The Dubrovnik Times Jan 05, 2019

In September 2018 Croatia's gross foreign debt totalled €38.7 billion, down by 2.5 percent or €977 million year-on-year, with the foreign debt-to-GDP ratio dropping to 76.2 percent of GDP, a report released by the central bank said on Thursday.

The reduction in foreign debt was also helped by a 13.1 percent drop in the debt of the banking sector, to €3.2 billion, a 5.1 percent drop in the foreign debt of other sectors of the economy to €13.5 billion, and a 2.8 percent drop in the central bank's foreign debt, to €2 billion.

On the other hand, the general government's gross foreign debt, which accounts for 35.3 percent of the country's total foreign debt, remained unchanged at €13.7 billion at the end of September 2018, after posting year-on-year growth for four months in a row.

In December 2018, the central bank purchased nearly €1.1 billion from commercial banks, injecting about 8 billion kuna into the local money market.

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