Croatian General Government Debt Reaches 342.5 Billion Kuna

Lauren Simmonds

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As Poslovni Dnevnik writes, the Croatian general government debt calculated back at the end of March this year amounted to 342.5 billion kuna, which is 1.1 billion kuna or 0.3 percent more than just one year earlier, according to the latest data from the Croatian National Bank (CNB/HNB).

The annual increase in Croatian general government debt was caused by an increase in domestic debt by 4.1 billion kuna or 1.9 percent and a decrease in foreign debt by 2.5 billion kuna or 2 percent. Looking at these enormous figures a monthly basis, the Croatian general government debt actually decreased by 1.7 billion kuna.

Observed as a ratio in annual GDP, the total debt at the end of March 2022 amounted to 77.3 percent of GDP, which is 12.8 percentage points less than a year earlier, when total debt reached 90.1 percent of the country’s GDP, they stated from the Croatian National Bank.

Otherwise, the Croatian Government expects that by the end of this year, the share of public debt in GDP should amount to 76.2 percent of GDP, or 3.6 percentage points less than back in 2021.

As a reminder, the debt of the general government back at the end of February this year amounted to 344.2 billion kuna, which is 13.7 billion kuna or 4.1 percent more than a year earlier.

Analysts previously estimated that this year, they expect the Croatian general government debt to continue to grow in absolute terms due to growing financing needs.

For more, make sure to check out our dedicated politics section.


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