Insolvent businesses owe HRK 44 bln, citizens HRK 16 bln

ZAGREB, Oct 1 (Hina) - The debts of 73,393 insolvent business entities in Croatia reached HRK 44.06 billion in August and at the end of that month, the bank accounts of 233,299 citizens owing HRK 15.87 billion in total were frozen, the Financial Agency said on its website on Monday.

On the month, the total debt of insolvent business entities was up 0.5 per cent and that of citizens by HRK 535 million. The number of citizens with blocked accounts went up 0.8 per cent from July.

At the end of August, there were 16,490 business entities insolvent up to 360 days, owing HRK 7.9 billion in total, while 56,903 were insolvent more than 360 days, owing HRK 36.2 billion in total. Of those insolvent more than 360 days, 36.5 per cent were insolvent more than five years.

At the end of August, the accounts of 38,676 legal entities which employ 41,336 people in total were frozen because of debts totalling HRK 36.2 billion.

Also blocked were the accounts of 34,717 small businesses which employ 24,929 people in total and owe more than HRK 7.8 billion in total.

A total of 22,9877 legal entities with blocked bank accounts have no employees and owe HRK 17.4 billion in total. Also, 16,084 small businesses with no employees have their accounts blocked because of a debt totalling HRK 3.9 billion.

(EUR 1 = HRK 7.44)