20:30 / 05.11.2021.

Author: Nikola Badovinac

Government debt reaches record levels



Foto: Tomislav Miletic / PIXSELL

At the end of July 2021, Croatia's general government debt was a record-high 344.4 billion kuna, or 5.8 percent up year-on-year and 1.2 percent up from June, the central bank said on Friday.

In June 2021, the general government debt was 340.8 billion kuna or 86.1 percent of Croatia’s GDP, meaning that in July the ratio increased to 87.0 percent.

Early in July, before 6 billion kuna worth of bonds were due, the government had issued 9 billion kuna worth of seven-year bonds on the domestic market set to mature in 2028.

From January to July this year alone the general government debt went up by 4.3 percent, or 14.1 billion kuna.

The general government’s internal debt in July was 228.6 billion kuna, or 8.1 billion kuna up year-on-year. The general government’s foreign debt totaled 115.7 billion kuna, or 10.8 billion kuna higher year-on-year.

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