(ANSAmed) - ZAGREB, APRIL 22 - Croatian deficit was at 4.9 %
of GDP in 2013 (2.13 billion euros), while its public debt
surged to 67.1% of GDP (29 billion).
The figures were released on Tuesday by Croatia's national
statistics institute DZS and were for the first time calculated
in line with European methodologies. The DSZ calculations will
serve as a benchmark for European Commission assessments after
it opened an excessive deficit procedure for the country in
February.
Soaring debt levels over the course of the economic crisis
are of the most concern. Public debt rose from 45% of GDP in
2010 to 56% at the end of 2012 and 67% in December 2013. Debt
rose as a result of new tranches of state bonds used to cover
losses in public healthcare that were issued on international
markets at much higher interest rates than in the past, due to
the close to 'junk' rating given to Croatia by international
agencies.
In 2013 revenue rose to 17.7 billion euros and spending was
at 19.8 billion, resulting in a 0.7% reduction in deficit from
the previous year. Public debt is expected to rise in 2014 but
thanks to measures to be presented in Brussels in the coming
days, deficit will instead continue to decrease. (ANSAmed).
