Croatia debt rises up to 82 pct of GDP: experts
Xinhua, February 10, 2015 Adjust font size:
Croatian economists estimated Croatia's public debt will rise up to 82 percent of GDP by the end of 2015, local media reported on Monday.
Economists from Raiffeisen Bank of Austria (RBA) estimated Croatia's debt will rise up to 39.5 billion U.S. dollars, considering the country's fiscal deficit and financial obligations, hitting on an all-time high level.
Croatia debt was 38.4 billion dollars in October 2014, a growth of 11.2 percent, comparing with October 2013, according to the Croatian National Bank (HNB).
The figures are set using European System of National and Regional Accounts (ESA 2010) methodology, which included the debt of the central government, local government and social security funds.
The biggest portion of the debt, 37.63 billion dollars, or 98 percent, is made by the central government, according to HNB.
Out of the total 38.4 billion dollars debt, 23.5 billion dollars, or 61 percent are loaned from domestic loaners. 14.9 billion dollars or 39 percent are loaned at foreign creditors.
Euro has grown on an annual rate of 0.6 percent in relation to Croatian kuna, since a big share of the debt is denominated in euro. Endit