Croatia’s Total Debt to GDP Ratio 82.4% at September’s End, Down 2.3 pp Y/Y

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Photo: Sandra Simunovic/PIXSELL
Croatian National Bank
Croatian National Bank

“Measured against the annual GDP, the total debt amounted to 82.4% of GDP at the end of September 2021, and 84.7% of GDP at the end of September 2020, which is a decrease of 2.3 percentage points on an annual level, but also a decrease of 3.7 percentage points over the previous quarter, when this share was 86.1%.”

According to final data provided by the central bank, “the total consolidated debt of all general government sub-sectors reached HRK 344.7bn at the end of September 2021, up HRK 3.9bn (or 1.1%) since the end of June 2021 and up by HRK 18.7bn (or 5.7%) since the end of September 2020.”

The annual debt growth was due to an increase in the domestic debt by HRK 7.9bn (or 3.6%) and in the external debt by HRK 10.8bn (or 10.2%). Comparing the developments between the two quarters, domestic debt grew by HRK 6.3bn (or 2.9%), while external debt shrunk by HRK 2.5bn (or 2.1%) from the last quarter.

The HNB notes that although the general government debt rose, a significant increase in Gross Domestic Product over the recent months has led to the narrowing of the general government debt to GDP ratio.

For more, check out our politics section.


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