September the 8th, 2022 - The Croatian general government debt amounted to 344 billion kuna back at the end of May this year, which is 5.9 billion of 1.7 percent higher than just one year earlier.

As Poslovni Dnevnik writes, the above information on the Croatian general government debt is according to the latest data from the Croatian National Bank (HNB), and Raiffeisenbank Austria (RBA) analysts. The annual increase in Croatian general government debt has been caused by an increase in both domestic and foreign debt, according to the latest CNB data.

As such, the internal debt is higher by 4.5 billion kuna or 2 percent when compared to the end of May 2021, to almost 223 billion kuna, which is largely the result of the growth of the central government's debt on long-term securities and long-term loans. At the same time, Croatia's foreign debt increased by 1.4 billion kuna, or 1.2 percent, to 121 billion kuna in total. When compared to the end of April, however, the general government debt was reduced by 12.1 billion kuna.

The reduction of the Croatian general government debt on a monthly basis is the result of the settlement of the Eurobond due on May the 30th, 2022, for the refinancing of which funds were collected by the April issue of the Eurobond in the total nominal amount of 1.25 billion euros, they pointed out from the RBA.

At the level of the whole year, RBA analysts expect the continuation of the growth of the Croatian general government debt in absolute terms due to growing financing needs, because of union demands for wage growth in an environment of pronounced inflationary pressures, but also as a result of a series of fiscal measures to mitigate the unfavourable impact of price increases on both consumers and enterprises.

"Although fiscal risks are increasing, we expect the Croatian general government deficit to remain at the level of 3 percent of GDP," the RBA concludes.

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July the 5th, 2022 - Croatian general government debt now stands at a whopping 342.5 billion kuna, according to what was calculated back during the month of March this year.

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.