NBRM: Net external debt at 29.8 percent of GDP as of March-end

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The net external debt by the end of March stands at EUR 4.23 billion or 29.8 percent of the projected GDP, the National Bank said on Friday.

The net external debt in the first quarter of 2023 dropped by EUR 120 million or 2.7 percent.

Structure-wise, private net debt has the largest share in the total net debt at 64 percent.

“By the end of March, the gross external debt amounts to EUR 11.1 billion or 78.1 percent of the projected GDP and has increased quarterly by EUR 224 million (2.1 percent). When eliminating the effect of specialized activities for management of foreign currencies of the central bank on the debt, the gross debt has recorded an increase of EUR 436 million, of which EUR 402 million in increased public debt and EUR 34 million in private debt. The quarterly increase of the public external debt results from the debt rise in sector ‘state’ by EUR 449 million and the issuance of a new Eurobond, whereas liabilities of public enterprises and public banks have reduced by EUR 46 million. The rise in the private debt is owed to the rising debt of mutually related entities by EUR 160 million amid a reduced debt of private banks by EUR 108 million and the non-banking private sector by EUR 18 million,” the National Bank said in a press release on Friday.

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