JULY 25 2012 20:55h
Croatia's gross foreign debt rose by 1.7 billion euros from the end of 2011 to reach 47.4 billion euros at the end of April 2012, the Croatian National Bank (HNB) has reported in its latest bulletin.
The gross foreign debt saw a minimum rise in the first quarter of 2012, however, its increase was strong in April with the government's issuance of USD 1.5 billion bond on the US market, according to the observation of HNB experts.
A rise in the state debt is also ascribed to the government's takeover of foreign liabilities of three shipyards on the basis of guarantees in the amount of EUR 300 million, as part of the programmes for restructuring of those state-owned docks.
Therefore, the state portion in the foreign debt increased by EUR 1.5 billion to EUR 8.5 billion, or 18% of total foreign liabilities at the end of April, as against 15.3 % at the end of 2011.
Commercial banks' debt stagnated at the level of EUR 11.8 billion.
The foreign debt of other domestic sectors totalled EUR 20.3 billion, which made up 42.8% in Croatia's total foreign debt at the end of April, rising by 111 million euros from the end of last year. (Hina)