The public debt of the country increased by 9.1% year-on-year to 101.6 billion Croatian Kuna (HRK) at end of November, representing 45.6% of GDP , the finance ministry reported.
At the end of 2005, public debt accounted for 44.8% of GDP, dropping slightly month-on-month.
It should be noted that as of 2005, the finance ministry changed its method of calculating public debt, excluding state guarantees and the debt of state development bank HBOR. HBOR debt increased by 11.9% y/y to HRK 6.4 billion while guarantees dropped by 1.9% to HRK 13.2 billion at the end of November.
The general government foreign debt dropped by 10.4% year-on-year to HRK 45.7 billion, in line with the government plan for reducing foreign debt through shifting to domestic borrowing, but this was at the expense of domestic debt, which soared by 32.7% year-on-year to HRK 55.8 billion at end-November.