According to the final data of government finance statistics for the first quarter of 2022, the total consolidated debt of all general government sub-sectors reached HRK 342.5bn at the end of March 2022, down HRK 1.1bn (or 0.3%) from the end of December 2021 and up by HRK 1.6bn (or 0.5%) from the end of March 2021. The annual debt growth was due to an increase in the domestic debt of HRK 4.1bn (or 1.9%) and a decrease in the external debt of HRK 2.5bn (or 2.0%). Domestic debt fell by HRK 3.5bn (or 1.6%), and external debt rose by HRK 2.4bn (or 2.1%) compared to the end of the previous quarter.
Measured against the annual GDP, the total debt at the end of March 2022 amounted to 77.3% of GDP, a decrease of 12.8 percentage points on an annual basis from 90.1% of GDP at the end of March 2021 and a decrease of 2.5 percentage points from the end of the previous quarter, when this share stood at 79.8%.
The general government debt structure by main debt instruments and maturity is available only on an unconsolidated basis. Long-term debt instruments dominate the maturity structure of unconsolidated debt: at the end of March 2022 most of this debt was made up of bonds (65.3%), the second by importance were long-term loans (28.7%), and last were short-term loans, securities and deposits (jointly 6.0%). The short-term debt components decreased by HRK 1.0bn (or 4.7%) on an annual basis from the end of March 2021 to the end of March 2022, while the long-term debt components increased by HRK 3.2bn (or 1.0%) during the same period.
Statistical time series: Table I3 General government debt (ESA 2010)
This debt excludes the cross claims of institutions within the same sub-sector and between sectors, the so-called Maastricht debt. ↑
Calculated as the sum of the preceding four quarterly GDP figures. ↑
The unconsolidated debt represents the Maastricht debt increased by cross claims of different units within the general government sector. ↑