ZAGREB, Feb 4 (Hina) - The Croatian external debt exceeded the amount of 14 billion US dollars.
ZAGREB, Feb 4 (Hina) - The Croatian external debt exceeded the
amount of 14 billion US dollars. #L#
The total foreign debt of all sectors (the government, banks,
companies) came to 14.070 billion US dollars at the end of November
2002. The debt rose by 395 million dollars in comparison to October
and 25.6 percent or by 2.86 billion in comparison to the end of 2001,
according to latest figures released by the Croatian National
Bank.
The increase was caused mostly by activities of banks and the
government, and one third of the rise was the result of the impact of
changes in the exchange rate. Due to the movements in the exchange
rate of the US dollar against the euro and other currencies, the
total foreign debt rose by some 970 million dollars in the
statistical terms. The two thirds of the country's foreign debt
were expressed in euros, and with the appreciation of this currency
against the dollar, the Croatian foreign debt increased as well.
The total external debt in late November accounted for some 66
percent of the assessed Gross Domestic Product in 2002, and the
indebtedness per capita was 3,170 dollars.
One should point out that Croatia's international liquidity is not
questionable, given that the international reserves of the central
bank cover more than 42 percent of the entire foreign debt.
(hina) ms