IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The Present State of the Croatian Public Debt

  • Zoran Bubas

    (Institute of Public Finance, Zagreb)

Registered author(s):

    The statistics of the public debt of the Republic of Croatia show that in spite of considerable positive advances in the statistical purview of the public sector, the purview of the public debt is not complete even in the narrowest understanding of the concept of public debt. For this reason it is necessary precisely to determine what should be a part of the public debt, and separate the internal from the external public debt. Available data about the state of the total public debt confirm the thesis that the Croatian public debt in 1997 was of moderate size (about 33% of GDP) but show that its structure is changing: the reduction of the internal debt is accompanied by a rise in the external indebtedness of the public sector. Because of the general economic situation, the open savings-investment gap and debt inherited from the former state of Yugoslavia there are many challenges before public debt policy. Since most of the new net borrowings abroad in 1997 were accounted for by public and publicly guaranteed debt, the decision makers have to pay particular attention to the proper use of the funds borrowed and to a cautious approach to the issue of state guarantees. Bearing in mind the possibility of refinancing the debt, a small and open country like Croatia cannot be compared with highly developed countries the debts of which are always refinanced and in fact never fall due for payment. For Croatia, glitches in the world capital markets could have very serious consequences, and it is necessary to be prepared for future challenges as soon as possible.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.ijf.hr/OPS/6.pdf
    Download Restriction: no

    Paper provided by Institute of Public Finance in its series Occasional paper series with number 06.

    as
    in new window

    Length: 17 pages
    Date of creation: Dec 1998
    Date of revision:
    Publication status: published in the journal “Financijska praksa”, Volume 22, Number 4-5 (October 1998)
    Handle: RePEc:ipf:occasi:6
    Contact details of provider: Postal: Smiciklasova 21, 10000 Zagreb
    Web page: http://www.ijf.hr/Email:


    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ipf:occasi:6. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Martina Fabris)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.