Gross external debt grew by 1.7% m/m to EUR43.2bn in March and accounted for 99.1% of GDP, according to the latest figures of the Bank of Slovenia. Net external debt rose by 6.1% m/m to EUR8.89bn, representing 20.4% of GDP.
The increase was registered all across the board, save for corporations, where it dropped by 3.1% m/m to EUR3.6bn, due to a decrease of debt securities and loans. Meanwhile, the external debt of the general government increased by 2.0% m/m to EUR22.5bn, mainly due to an increase of long-term debt securities. The debt of the central bank rose by 9.8% m/m to EUR2.7bn due to an increase of securities and deposits. Last, but not least, the debt of other sectors rose by 1.1% m/m to EUR10.5bn due to a rise of short-term debt in the form of trade credit and advances.
In annual terms, gross external debt dropped by 3.8% y/y, while net external debt fell by 19.1% y/y. The decline was largely broad-based save for the central bank, where debt increased by 4.2% y/y. The general government saw its debt decline by 4.5% y/y due to debt-restructuring operations and loan repayment.