Croatia's gross external debt reached €44.2 billion at the end of June 2021, increasing by €2.8 billion or 6.8% since June 2020, and accounted for 85.6% of GDP, according to the figures released by the Croatian National Bank (HNB) on Friday.

Compared with the first quarter of this year, gross external debt was €700 million higher in the second quarter.

The debt of other domestic sectors (private non-finance companies) increased the most, by €800 million, followed by the central bank’s debt, which rose by €400 million. On the other hand, credit institutions reduced their debt by €300 million and general government by €200 million.

Gross external debt stood at €44.2 billion or 85.6% of GDP at the end of June 2021, decreasing by 2.8 percentage points from the end of March, thanks to nominal GDP growth, the HNB said in its comments on the balance of payments, gross external debt and the international investment position in the second quarter of 2021.