Croatia’s general public debt Up to 89.1% of GDP in 2020
ZAGREB, April 1, 2021 – Croatia’s public debt reached HRK 329.7 billion at the end of 2020, an increase of 12.6% compared to the end of 2019, with the public debt-to-GDP ratio reaching 89.1%, according to the latest Croatian national report. The bank details (HNB) are displayed.
At the end of December 2020, general government debt increased by HRK 526 million (+ 0.16%) compared to the previous month and by HRK 36.8 billion (+ 12.6%) compared to December 2019.
At the end of last year, total debt stood at 89.1% of annual GDP, up from 72.8% at the end of 2019.
The ratio of general government debt to GDP has been declining since 2014, when it stood at around 85% of GDP. After declining to 72.8% of GDP in 2019, the financing needs of measures to combat the coronavirus epidemic and the decline in GDP led the ratio of general government debt to GDP to increase to 89.1% in 2020.
General government debt includes the components of the internal and external debt of the central government, social security funds and local governments.
HNB analysts noted that the increase in debt was mainly due to an increase in the domestic debt component, which had increased by HRK 4.1 billion (+ 1.9%) since November 2020 and by 26.0%. billion HRK (+ 13.2%) since December 2019.
At the end of December 2020, general government debt stood at 223.7 billion in the domestic market, while the external debt component stood at nearly 106 billion HRK. The external debt component fell by 3.6 billion HRK (+ 3.3%) month-on-month and increased by 10.8 billion HRK (+ 11.3%) year-on-year.
The structure of general government debt is dominated by long-term debt instruments. At the end of December 2020, the debt was made up of bonds (64.4%), long-term loans (29.1%) and short-term loans and securities (6.5%). Compared with December 2019, short-term debt increased by HRK 8.4 billion (+ 63.1%), while long-term debt increased by HRK 30.5 billion (+ 10.9%). ).
(1 € = 7.5 HRK)
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