The External Debt of Slovakia as at 31 December 2007
The total gross external debt was USD 44.3 billion as at the end of December 2007, or EUR 30.2 billion. The total long-term external debt increased by USD 0.2 billion in December when the total short-term external debt increased by USD 1.0 billion. As to the short-term external debt, external liabilities of the commercial banks increased by USD 1.3 in December on a month-on-month basis of which USD 1.2 billion in the cash and deposits item. The short-term external liabilities of corporations decreased altogether by USD 0.3 billion, mainly owing to decrease in commercial loans.
Regarding the long-term external debt a contrary development in commercial sector was seen, when external liabilities of corporations increased by USD 0.1 billion wheb the long-term external liabilities of commercial banks decreased by USD 0.1 billion. External liabilities of the Government and NBS increased by USD 0.2 billion in the period under review. The total gross external debt per capita in Slovakia was USD 8 237 at the end of December 2007. The ratio of total short-term external debt to total gross external debt of Slovakia was 53.3 % at the end of December 2007, which was a month-on-month increase of 0.8 of a percentage point.
External Debt of the SR
| in USD million | in EUR million | |||||
|---|---|---|---|---|---|---|
| 31.12.2006 | 30.11.2007 | 31.12.2007 | 31.12.2006 | 30.11.2007 | 31.12.2007 | |
| Total external debt of Slovakia | 32 205,9 | 43 112,0 | 44 308,7 | 24 448,9 | 29 241,5 | 30 156,2 |
| 1) Long-term external debt | 16 649,7 | 20 495,8 | 20 709,7 | 12 639,5 | 13 901,6 | 14 094,9 |
| Government and NBS * | 7 702,1 | 9 242,4 | 9 502,4 | 5 847,0 | 6 268,8 | 6 467,3 |
| Commercial banks | 1 559,2 | 2 269,9 | 2 150,8 | 1 183,6 | 1 539,6 | 1 463,8 |
| Corporations | 7 388,4 | 8 983,5 | 9 056,5 | 5 608,9 | 6 093,2 | 6 163,8 |
| 2) Short-term external debt | 15 556,2 | 22 616,2 | 23 599,0 | 11 809,4 | 15 339,9 | 16 061,3 |
| Government and NBS | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 | 0,0 |
| Commercial banks | 6 148,8 | 10 793,9 | 12 095,6 | 4 667,8 | 7 321,2 | 8 232,2 |
| Corporations | 9 407,4 | 11 822,2 | 11 503,4 | 7 141,6 | 8 018,7 | 7 829,1 |
| Foreign assets | 26 718,4 | 36 911,8 | 37 017,4 | 20 283,2 | 25 036,2 | 25 193,8 |
| Net external debt | 5 487,5 | 6 200,1 | 7 291,3 | 4 165,7 | 4 205,3 | 4 962,4 |
| USD and EUR exchange rate | 26,246 | 22,638 | 22,870 | 34,573 | 33,376 | 33,603 |
| EUR/USD cross rate | – | – | 1,317 | 1,474 | 1,469 | |
Source: NBS
* including government agencies and municipalities Net external debt, calculated as a deduction of gross external debt in the amount of USD 44.3 billion (NBS and Government liabilities, liabilities of commercial banks and liabilities of corporations – excluding capital participation) and foreign assets in the amount of USD 37.0 billion (NBS foreign exchange reserves, foreign assets of commercial banks, foreign assets of corporations – excluding capital participation) reached the debtor position of USD 7.3 billion at the end of December 2007.
In 2007, the total gross external debt of Slovakia increased by USD 12.1 billion and the total long-term external debt increased by USD 4.1 billion and the total short-term external debt increased by USD 8.0. The most marked increase was shown in short-term external liabilities of commercial banks which increased by USD 6.0 billion. The total gross external debt per capita in Slovakia increased by USD 2 250 in the last year. The ratio of total short-term debt to total gross external debt of Slovakia increased by 5.0 percentage point on a year-on-year basis. The net external debt reported an increase of USD 1.8 in a debtor position in 2007.
Jana Kováčová
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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