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Croatia's public debt-to-GDP ratio falls to 81.9% in H1 2017

Source: Hina
Author: Marija Šestan

ZAGREB, Oct 24 (Hina) - Croatia's public debt totalled HRK 287.25 billion at the end of the second quarter of 2017, falling to 81.9% of the country's GDP, down by 12.8 billion kuna or by 4.5 percentage points compared to the end of the first quarter of 2017, the European Union's statistical office EUROSTAT has reported.

This quarter-to-quarter decline in public debt puts Croatia at the top of the ranking of the 28 EU member-states, according to EUROSTAT's report on Tuesday.

Slovakia ranked second with a 1.6 percentage point fall in its public debt.

Malta came in as third with a reduction of its public debt by 1.4 percentage points at the end of June compared to the end of March.

In nominal terms, Croatia's public debt in Q2 2017 rose by 1.6 billion compared to Q2 2016, but the public debt-to GDP ratio fell by 2.2 percentage points on the year.

This fall is ascribed to a 2.7% rise in the country's economy year on year in H1 2017, after its rise of 3% throughout 2016.

(EUR 1 = HRK 7.5)

(Hina) ms

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