Kosovo's gross external debt up to 26.7% of GDP at end-March 2013

By bne IntelliNews July 5, 2013

Kosovo’s gross external debt decreased by EUR 67.4mn this year (4.4% quarterly drop) to EUR 1.45bn at end-March 2013, preliminary central bank data showed.

However, the debt increased 8.8% in annual terms to 26.7% of the full-year GDP forecast at end-March 2013, up from 26.2% in the same period last year. 

The external public debt* declined 0.9% q/q to EUR 397.9mn over the period, equalling 7.3% of GDP. Its share in total debt increased to 27.4% from 26.4% at end-2012. The external debt of the government went down 1.1% q/q to EUR 332.8mn, while the c-bank debt edged up 0.2% q/q to EUR 65.1mn

The private sector's external borrowing declined 5.7% q/q to EUR 1bn and accounted for 19.4% of GDP at end-March. Banks' external indebtedness went up 3.5% q/q to EUR 181.7mn. On the other hand,  the liabilities of the non-banking sector tumbled 22% q/q to EUR 273.7.

*External public debt consists of general government and central bank debt.

Gross external debt (EUR mn) Q1 2012 Q4 2012 Q1 2013 Change, q/q
TOTAL debt 1,332 1,517 1,450 -4.40%
 Public debt 312.7 401.4 397.9 -0.90%
  - Government 247.4 336.5 332.8 -1.10%
  - Central bank 65.3 65 65.1 0.20%
 Private debt 1,020 1,116 1,052 -5.70%
   - Banks  162 175.6 181.7 3.50%
   - Other sectors  277.1 350.9 273.7 -22%
   - Intercompany lending  580.9 589.7 596.6 1.20%
Source: Kosovo c-bank        

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