TNBiz (TNBiz)
Macroeconomics  |  October 10, 2012 14:40:05

The national debt of the Czech Republic to the end of September rose to 1.652 trillion crowns


PRAGUE (MEDIAFAX) - At the end of the third quarter of this year increased national debt of the Czech Republic at 1.652 trillion crowns, which in comparison with the end of the previous quarter, an increase of 16.6 billion crowns (+1,04 percent). On Wednesday informed the Ministry of Finance (MoF).

Since the beginning of this year, the state debt of the Czech Republic increased by 152.9 billion crowns at the moment for every Czech citizen for a debt in the amount of 157,182 crowns. Year on year, the Czech government debt increased by 195.5 billion crowns (+13,42 percent).

"The growth in debt for the first three quarters of this year, more than twice the state budget deficit for the period. This is mainly due to the fact that MF uses the favorable conditions for the Czech Republic and issued bonds in reserve," said Finance Ministry spokesman Ondrej Jakob with the fact that investors now the Czech Republic believe primarilydue to austerity steps the government and lend it at a very low interest rate. "This is doing to save on interest costs on the national debt. Way the Czech Republic prepares for the period of possible turbulence in the market, which may be due to such problems in the eurozone. Increasing reserves of precautionary reasons, then visually increases the national debt," said spokesman Jacob.

Short-term debt (debt due within one year) at the end of the third quarter rose against the end of the second quarter by 2.1 percentage points to 21.4 percent. Achieves a value that is in accordance with stated policies, while at the same time is to keep the refinancing risk of the target ceiling of 25 percent valid for 2012.

The average maturity of government debt at the end of the third quarter decreased compared with the end of the second quarter by 0.1 years and takes the value 5.6 years. The average maturity of government debt and is in the range announced target range of five to six years, valid for 2012.

Jan Soukup, soukupj@mediafax.cz

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Státní dluh ČR ke konci září vzrostl na 1,652 bilionu korun

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