ZAGREB, 8 Nov, 2021 - Croatia's gross international reserves reached €24.5 billion in October 2021, their new highest level to date, increasing by €100 million or 0.6% from September, according to the data provided by the Croatian National Bank (HNB).

Since the start of the year, gross international reserves have increased by €5.5 billion or 29.3%. Compared to October 2020, they are €6.34 billion higher.

The increase is mostly the result of the government's foreign currency deposits with the HNB following the disbursement by the European Commission of €818.4 million as an advance payment for the purposes of the National Recovery and Resilience Plan.

All adequacy indicators of the country's gross international reserves suggest that they are sufficient to ensure the smooth running of the central bank's monetary policy.

Net reserves remained almost the same as in September, at €19.5 billion, the HNB said.

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