Mediafax (Mediafax)
Macroeconomics  |  September 27, 2012 10:55:11

CNB: External debt of the Czech Republic during the second quarter fell to 1.895 trillion crowns


PRAGUE (MEDIAFAX) - At the end of the second quarter of this year dropped the foreign debt of the Czech Republic at 1.895 trillion crowns (49.6 percent of GDP). Compared to the same period last year was by CZK 144.3 billion higher, reported Thursday the Czech National Bank (CNB).

The decrease in foreign debt was based on information CNB primarily affect the development of foreign liabilities of the corporate sector. In addition to a reduction in net liabilities of domestic subsidiaries to foreign associates CNB also reported previously drawn import repayment of loans. Foreign liabilities of the corporate sector constitutes 46.9 percent of the debt.

External debt of the banking sector during the period also decreased slightly.Commercial banks repaid part of the previously received short-term deposits from abroad as well as reduce the tenure of bank bonds in the hands of non-residents. Foreign liabilities of the banking sector including the CNB fulfilling 25.1 percent of total external debt of the Czech Republic.

Moderate growth of state government debt is due to foreign exchange rate and the price differences that exceed the negative balance of transactions recorded in the balance of payments (installment loans of the European Investment Bank, the decline in holdings of short-term government bonds by foreign investors). The share of government liabilities is 28 percent.

The decline in foreign debt in the structure by instruments mainly reflected in a reduction of debt liabilities to affiliated foreign companies (9.4 percent) in favor of representation of bonds and loans. These instruments in foreign debt also prevalent (65.4 percent).

In the second quarter of 2012 decreased investment deficit position of the Czech Republic's international (balance of financial assets and liabilities of residents of the Czech Republic in relation to non-residents) of 14 billion crowns and crowns is 1966200000000. The ratio of the investment position deficit to GDP at current prices is 51.5 percent.

Jan Soukup, soukupj@mediafax.cz

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