Slovenia’s gross external debt increases for third consecutive month in April

Slovenia’s gross external debt increases for third consecutive month in April
Slovenia’s gross external debt increases for third consecutive month in April
By bne IntelliNews June 13, 2017

Slovenia's gross external debt amounted to €44.1bn at end-April, increasing for the third consecutive month, according to preliminary data announced by Slovenia’s central bank Banka Slovenije (BS) on June 13

Slovenia’s external debt has been on a gradual downward trend for the last two years, though with numerous small upturns including in the last few months. The debt went up to €43.63bn at end-March from €43.15bn at end-February when it increased from €42.96bn at end-January.

Slovenia finished 2016 with gross foreign debt lower than in 2015, when it stood at €44.95bn, down from €47.34bn in 2014. Meanwhile, consolidated general government debt at the end of 2016 totalled €31.68bn, equal to 79.7% of GDP, being reduced from 83.1% of GDP in 2015.

At end-April, the gross external debt of the general government slightly increased to €22.47bn, from €22.46bn at end-March and €22.13bn at end-February when it had decreased from €21.26bn at end-January.

Meanwhile, the debt of the non-financial sector through April decreased slightly to almost €11bn after totalling €11.1bn in March, going up from €10.8bn through February and €10.79bn through January.

Slovenia's debt mounted rapidly in the pre-crisis period and when the global economic crisis hit heavily in 2009, many highly leveraged companies were unable to repay their loans. The situation in the banking sector escalated in late 2013 and Slovenia barely managed to avoid an international bailout. Instead, the government launched a recapitalisation of major banks. 

In 2013, Slovenia’s gross external debt stood at €41.87bn, decreasing from €42.87bn in 2012 when it went up from €41.67bn at end-2011.

Data

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