Croatian gross foreign debt at the end of September last year amounted to 42.76 billion euros and increased by 3.4 billion euros during 2009, according to the latest data from the Croatian National Bank.
This increase was primarily driven by borrowings based on direct investments and corporate borrowings. Thus, the total external debt of other domestic sectors (mainly companies) at the end of September last year amounted to 21.4 billion euros, which is an increase of nearly 1.4 billion euros compared to the end of 2008. The share of other domestic sectors in the total Croatian gross foreign debt at the end of September last year was 50.1 percent.
During the first nine months of 2009, foreign debt based on direct investments increased by 1.9 billion euros, reaching just over 7 billion euros at the end of September 2009, with a share in the country’s total external indebtedness of 16.4 percent. Banks increased their foreign debt by 143 million euros during the first nine months of last year, totaling 10.2 billion euros at the end of September last year. The share of banks in the total foreign debt was 23.8 percent. The state, on the other hand, reduced its external debt by about 60 million euros during the first nine months of 2009 compared to the end of 2008. Thus, the state’s foreign debt at the end of September amounted to 4.1 billion euros, with a share of 9.6 percent in the total Croatian gross foreign debt. (H)
