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Post by radovic on Jan 21, 2008 10:00:56 GMT -5
Croatia's foreign debt reaches EUR 31.4bn 21 January 2008 | 15:05 | Source: Beta ZAGREB -- Croatia's foreign debts increased by EUR 2.1bn in the first ten months of 2007 to reach EUR 31.4bn, reports say.
The figure went up EUR 3.4bn on the annual level, compared to October last year.
This puts the annual debt growth rate at 12.2, that country's central bank data shows.
At the same time, experts say this means that the rate has slowed down, since it amounted to 14.3 percent in October 2006.
Croatia owes the rise in the value of its debt to companies, who borrowed almost EUR 4bn in the first ten months of last year.
The debt of the companies thus reached EUR 16.1bn, with a 51.6 percent share in the country's overall number.
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MiG
Amicus
Republika
Posts: 4,793
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Post by MiG on Jan 21, 2008 12:47:06 GMT -5
Well, they're going to have to start paying it off. I heard there are a couple of measures already in place to lighten the load. 10% interest comes with the debt, so already in the annual budget, 10% of that is take off.
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Fender
Commanding Moderator
Hardarse
Posts: 2,653
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Post by Fender on Jan 21, 2008 17:20:23 GMT -5
Thats a fair size deficit for a country the size of Croatia. Yes MiG, they need to address this immediately.
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Post by vinjak on Jan 21, 2008 19:11:23 GMT -5
I guess it is a nescessary evil, firms need to modernise and they need vast amounts of money to do it. Provided these firms are strong economicaly and the money was spent smartly, it should not be a problem for long.
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