Bloomberg News

Croatia’s Borrowing Costs Rise 24% on Fiscal, Euro Zone Crisis

November 16, 2011

Nov. 16 (Bloomberg) -- The Croatian government’s debt servicing costs rose 24 percent in the first nine months as the crisis in the euro area pushed up risk premiums and the country’s public debt increased.

Interest payments for the central government’s bonds, loans and Treasury bills amounted to 5.9 billion kuna ($1 billion) in the first nine months, up from 4.7 billion kuna in the same period last year, according to data released today by the Finance Ministry on its website.

“Growing public debt and higher risk premiums, reflecting events in the euro zone, are pushing up the borrowing costs,” Zdeslav Santic, the chief analyst at Societe Generale - Splitska Banka d.d., said by phone.

--Editors: Zoe Schneeweiss, Douglas Lytle

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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