The External Debt of Slovakia as at 30 June 2008
The total gross external debt was USD 56.1 billion (EUR 35.6 billion) as at the end of June 2008. The total long-term external debt increased by USD 1.1 billion in June when the total short-term external debt increased by USD 2.6 billion.
As to the short-term external debt, external liabilities of the commercial banks increased by USD 1.8 billion in June on a month-on-month basis and an increase of USD 1.2 billion was reported in the cash and deposits item. The short-term external liabilities of corporations increased by USD 0.8 billion. owing primarily to loans.
Regarding long-term external debt, the figure for external liabilities in the item Government and the NBS increased by USD 0.6 billion, above all owing to the increased interest in purchase of government bonds in SKK. The long-term external liabilities of corporations increased by USD 0.4 billion owing to the increase of loans to corporations. External liabilities of commercial banks increased by USD 0.1 billion.
The total gross external debt per capita in Slovakia historically for the first time exceeded the statistical value of USD 10 000 and reached USD 10 430. The ratio of total short-term external debt to total gross external debt of Slovakia was 52.8 % at the end of June 2008, which was a month-on-month increase of 1.2 percentage points.
External Debt of the SR
| mil. USD | mil. EUR | |||||
|---|---|---|---|---|---|---|
| 31.12.2007 | 31.05.2008 | 30.06.2008 | 31.12.2007 | 31.05.2008 | 30.06.2008 | |
| Total external debt of Slovakia | 44 308,7 | 52 367,5 | 56 110,2 | 30 156,2 | 33 670,6 | 35 627,9 |
| 1) Long-term external debt | 20 709,7 | 25 350,3 | 26 497,5 | 14 094,9 | 16 299,4 | 16 824,9 |
| Government and NBS* | 9 502,4 | 10 728,6 | 11 385,5 | 6 467,3 | 6 898,1 | 7 229,4 |
| Commercial banks | 2 150,8 | 2 692,8 | 2 820,5 | 1 463,8 | 1 731,4 | 1 790,9 |
| Corporations | 9 056,5 | 11 928,9 | 12 291,5 | 6 163,8 | 7 669,9 | 7 804,6 |
| 2) Short-term external debt | 23 599,0 | 27 017,2 | 29 612,7 | 16 061,3 | 17 371,2 | 18 803,0 |
| Government and NBS | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
| Commercial banks | 12 095,6 | 13 843,8 | 15 632,7 | 8 232,2 | 8 901,1 | 9 926,2 |
| Corporations | 11 503,4 | 13 173,4 | 13 980,0 | 7 829,1 | 8 470,1 | 8 876,8 |
| Foreign assets | 37 017,4 | 42 649,1 | 43 252,9 | 25 193,8 | 27 422,0 | 27 464,0 |
| Net external debt | 7 291,3 | 9 718,4 | 12 857,3 | 4 962,4 | 6 248,6 | 8 163,9 |
| SKK/USD and SKK/EUR | 22,870 | 19,444 | 19,247 | 33,603 | 30,241 | 30,312 |
| EUR/USD Crossrate | – | 1,469 | 1,555 | 1,575 | ||
Source: NBS
* including government agencies and municipalities
Net external debt, calculated as a deduction of gross external debt in the amount of USD 56.1 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 42.7 billion (NBS’s foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached a debtor position of USD 12.9 billion at the end of June 2008. and on a month-on-month basis it increased by USD 3.2 billion
Jana Kovacova
Spokesperson of the NBS
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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