General government debt statistics for December 2020

Published: 31/3/2021

According to the first available data[1], the total consolidated debt of all general government sub-sectors[2] reached HRK 329,7 bn at the end of December 2020, up HRK 526 mil (or 0,16%) since the end of the previous month and by HRK 36,8 bn (or 12,6%) since the end-December 2019. This increase was to the greatest extent due to an increase in the domestic debt component in the amount of HRK 4,1 bn (or 1,9%) in December 2020 and by HRK 26,0 bn (or 13,2%) since end-December 2019.


In relative terms, measured against the annual GDP[3], the total debt amounted to 89,1% of the annual GDP at the end of December 2020, while at the end of December of the previous year it stood at 72,8% of the annual GDP.


The general government debt data structure by main debt instruments and maturity is available only for the general government unconsolidated debt[4]. Long-term debt instruments dominate the maturity structure of this debt: at the end of December 2020 most of the debt was made up of bonds (64,4%), the second by importance were long-term loans (29,1%), and last were short-term loans and securities (jointly 6,5%). The short-term debt was HRK 8,4 bn (or 63,1%) higher at the end of December 2020 than a year ago, while long-term debt increased by HRK 30,5 bn (or 10,9%) during the last year.


 

Statistical time series: Table I3 General government debt (ESA 2010).


  1. Preliminary data; final data will be available on 22nd April 2021 after the Central Bureau of Statistics publishes its Excessive deficit procedure report for the Republic of Croatia.

  2. This debt excludes the cross claims of institutions within the same sub-sector and between sectors, the so-called Maastricht debt.

  3. Calculated as the sum of the preceding four quarterly GDP figures.

  4. The unconsolidated debt represents the Maastricht debt increased by cross claims of different units within the general government sector.