The External Debt of Slovakia as at 31 December 2006
The total gross external debt was USD 32.2 billion as at the end of December 2006, or EUR 24.4 billion, and on a month-on-month basis it increased by USD 0.7 billion (EUR 0.5 billion). In December the total long-term external debt decreased by USD 0.1 billion, while the total short-term external debt increased by USD 0.8 billion. USD.
As to the short-term external debt, an increase of USD 0.7 billion in external liabilities of the commercial banks in the cash and deposits items was reported in December. External liabilities of corporations reported only a moderate increase in the period under review.
Regarding the long-term external debt an adverse development was reported, when external liabilities of corporations decreased by USD 0.2 billion and the external liabilities of commercial banks increased by USD 0.1 billion.
The total gross external debt per capita in Slovakia was USD 5,987 at the end of December 2006. The ratio of total short-term external debt to total gross external debt of Slovakia was 48.3 % at the end of December 2006, which was a month-on-month increase of 1.4 percentage points.
| in USD million | in EUR million | |||||
| 1.1.2006 | 30.11.2006 | 31.12.2006 | 1.1.2006 | 30.11.2006 | 31.12.2006 | |
| Total external debt of Slovakia | 27 052,5 | 31 521,1 | 32 205,9 | 22 835,3 | 23 958,4 | 24 448,9 |
| 1) Long-term external debt | 11 850,7 | 16 744,0 | 16 649,7 | 10 003,3 | 12 726,7 | 12 639,5 |
| Government and NBS * | 5 578,3 | 7 696,4 | 7 702,1 | 4 708,7 | 5 849,9 | 5 847,0 |
| Commercial banks | 866,7 | 1 494,0 | 1 559,2 | 731,6 | 1 135,5 | 1 183,6 |
| Corporations | 5 405,7 | 7 553,6 | 7 338,4 | 4 563,0 | 5 741,3 | 5 608,9 |
| 2) Short-term external debt | 15 201,8 | 14 771,1 | 15 556,2 | 12 832,0 | 11 231,7 | 11 809,4 |
| Government and NBS | 4,4 | 0,0 | 0,0 | 3,7 | 0,0 | 0,0 |
| Commercial banks | 9 360,4 | 5 415,1 | 6 148,8 | 7 901,2 | 4 115,9 | 4 667,8 |
| Corporations | 5 837,0 | 9 362,0 | 9 407,4 | 4 927,1 | 7 115,8 | 7 141,6 |
| Foreign assets | 25 455,3 | 26 868,6 | 26 718,4 | 21 487,2 | 20 422,1 | 20 283,2 |
| Net external debt | 1 597,2 | 4 652,5 | 5 487,5 | 1 348,1 | 3 536,3 | 4 165,7 |
| USD and EUR exchange rate | 31,948 | 26,972 | 26,246 | 37,848 | 35,486 | 34,573 |
| EUR/USD cross rate | 1,185 | 1,316 | 1,317 | |||
Source: NBS
* including government agencies and municipalities
Net external debt, calculated as a deduction of gross external debt in the amount of USD 32.2 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 26.7 billion (NBS foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached the debtor position of USD 5.5 billion at the end of December 2006.
Jana Kovacova
Communications Section
National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, 421-2-5865 2166
Internet: http://www.nbs.sk
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