Croatia’s gross foreign debt at the end of the Q3 2015 was €47bn, which is 7.6 percent greater than the country’s GDP. The latest report released by the Croatian National Bank finds that the debt increased €480m (1 percent) over the last 12 months.
“The continued annual growth of gross foreign debt is predominantly the result of comparatively high obligations towards foreign creditors, as confirmed by data on the foreign debt of the general government sector, which reached €15.7bn at the end of September last year, accounting for as much as a third of Croatia’s total foreign debt,” wrote Raiffeisenbank Austria analysts.
