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Bulletin 260, June 2020

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Bulletin 260, June 2020 260 Year XXVI • June 2020 BULLETIN 260 PUBLISHER Croatian National Bank Publications Department Trg hrvatskih velikana 3, 10000 Zagreb Phone: +385 1 45 64 555 Contact phone: +385 1 45 65 006 Fax: +385 1 45 64 687 www.hnb.hr Release dates are disseminated on the advance release calendar posted for Croatia on the IMF’s DSBB (http://dsbb.imf.org). Those using data from this publication are requested to cite the source. ISSN 1334-0050 (online) BULLETIN 260 Zagreb, June 2020 General information on Croatia Economic indicators 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Area (square km) 56,594 56,594 56,594 56,594 56,594 56,594 56,594 56,594 56,594 56,594 56,594 Population (million)a 4.303 4.290 4.280 4.268 4.256 4.238 4.204 4.174 4.125 4.089 4.067 GDP (million HRK, current prices)b 330,771 328,824 333,215 330,509 331,209 331,343 339,696 351,169 366,426 382,965 400,102 GDP (million EUR, current prices) 45,067 45,130 44,822 43,966 43,732 43,426 44,640 46,640 49,118 51,654 53,969 GDP per capita (in EUR) 10,474 10,520 10,472 10,301 10,275 10,247 10,619 11,174 11,907 12,632 13,270 GDP – real year-on-year rate of growth –7.4 –1.5 –0.3 –2.2 –0.5 –0.1 2.4 3.5 3.1 2.7 2.9 (in %) Average year-on-year CPI inflation rate 2.4 1.1 2.3 3.4 2.2 –0.2 –0.5 –1.1 1.1 1.5 0.8 Current account balance (million EUR)c –2,959 –974 –799 –789 –461 111 1,452 994 1,679 982 1,571 Current account balance (as % of GDP) –6.6 –2.2 –1.8 –1.8 –1.1 0.3 3.3 2.1 3.4 1.9 2.9 Exports of goods and services 32.7 36.2 38.9 39.6 40.5 43.3 46.4 47.7 50.1 50.5 52.1 (as % of GDP) Imports of goods and services 38.3 37.9 40.6 41.2 42.5 43.7 46.1 46.5 49.4 51.3 52.2 (as % of GDP) External debt (million EUR, end of year)c 48,173 49,423 49,117 47,575 48,471 49,095 48,230 44,714 43,683 42,710 40,877 External debt (as % of GDP) 106.9 109.5 109.6 108.2 110.8 113.1 108.0 95.9 88.9 82.7 75.7 External debt (as % of exports of goods 327.0 302.3 282.0 273.4 273.6 260.9 232.7 201.0 177.5 163.6 145.3 and services) External debt service (as % of exports of 56.0 51.2 42.5 46.1 43.5 46.3 44.0 35.7 33.1 27.1 29.7 goods and services)d Gross international reserves (million 10,376 10,660 11,195 11,236 12,908 12,688 13,707 13,514 15,706 17,438 18,560 EUR, end of year) Gross international reserves (in terms of months of imports of goods and 7.2 7.5 7.4 7.5 8.3 8.0 8.0 7.5 7.8 7.9 7.9 services, end of year) National currency: kuna (HRK) Exchange rate on 31 December 7.3062 7.3852 7.5304 7.5456 7.6376 7.6615 7.6350 7.5578 7.5136 7.4176 7.4426 (HRK : 1 EUR) Exchange rate on 31 December 5.0893 5.5683 5.8199 5.7268 5.5490 6.3021 6.9918 7.1685 6.2697 6.4692 6.6499 (HRK : 1 USD) Average exchange rate (HRK : 1 EUR) 7.3396 7.2862 7.4342 7.5173 7.5735 7.6300 7.6096 7.5294 7.4601 7.4141 7.4136 Average exchange rate (HRK : 1 USD) 5.2804 5.5000 5.3435 5.8509 5.7059 5.7493 6.8623 6.8037 6.6224 6.2784 6.6223 Consolidated general government net –20,005 –21,261 –26,369 –17,695 –17,677 –17,725 –11,262 –3,338 2,920 850 1,553 lending (+)/borrowing (–) (million HRK)e Consolidated general government net –6.0 –6.5 –7.9 –5.4 –5.3 –5.3 –3.3 –1.0 0.8 0.2 0.4 lending (+)/borrowing (–) (as % of GDP)e General government debt (as % of GDP)e 48.7 57.8 64.4 70.1 81.2 84.7 84.3 80.8 77.8 74.7 73.2 Unemployment rate (ILO, persons above 9.2 11.6 13.7 15.9 17.3 17.3 16.2 13.1 11.2 8.4 6.6 15 years of age) Employment rate (ILO, persons above 48.2 46.5 44.8 43.2 42.1 43.3 44.2 44.6 45.8 46.9 47.7 15 years of age) a The population estimate of the Republic of Croatia for 2000 is based on the 2001 Census and that for the 2001-2017 period on the 2011 Census. Data for 2019 are preliminary. b The GDP data are presented according to the ESA 2010 methodology. Data for 2018 and 2019 are preliminary. c Balance of payments and external debt data are compiled in accordance with the methodology prescribed by the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) and the new sector classification of institutional units in line with ESA 2010. Balance of payments and external debt data are based on the most recent available balance of payments data up to the fourth quarter of 2019 and data on the gross external debt position as at the end of March 2020. d Includes principal payments on bonds, long-term trade credits and long-term loans (excluding liabilities to affiliated enterprises), as well as total interest payments (including FISIM), without interest payments on direct investment. e Fiscal data is shown according to the ESA 2010 methodology. Sources: CBS, MoF and CNB. Contents General information on Croatia iv Table D12 Restricted and blocked deposits with other monetary financial institutions 44 Information on economic trends 1 E Non–MMF investment funds 45 Summary 3 Table E1a Aggregated balance sheet of investment funds (end–of–period balance) 45 Statistical survey 17 Table E1b Aggregated balance sheet of investment funds (transactions during the period) 46 Classification and presentation of data on claims and Table E2a Investment funds’ shares/units issued by type of liabilities 19 investment and type of fund (end–of–period balance) 47 A Monetary and credit aggregates 21 Table E2b Investment funds’ shares/units issued by type of Table A1 Monetary and credit aggregates 21 investment and type of fund (transactions during the period) 47 B Monetary financial institutions 23 F Monetary policy instruments and liquidity 48 Table B1 Consolidated balance sheet of monetary financial Table F1 Credit rates of the Croatian National Bank 48 institutions 23 Table F2 Deposit rates of the Croatian National Bank 49 Table B2 Number of other reporting monetary financial Table F3 Banks’ reserve requirements 50 institutions and their classification by total assets 24 Table F4 Banks’ liquidity indicators 51 C Croatian National Bank 25 G Financial markets 53 Table C1 Balance sheet of the Croatian National Bank 25 Table G1a Credit institutions’ interest rates on kuna deposits not indexed to foreign currency (new business) 53 D Other monetary financial institutions 27 Table G1b Credit institutions’ interest rates on kuna deposits Table D1 Consolidated balance sheet of other monetary indexed to foreign currency (new business) 54 financial institutions 27 Table G1c Credit institutions’ interest rates on foreign Table D2 Foreign assets of other monetary financial institutions 29 currency deposits (new business) 55 Table D3 Other monetary financial institutions’ claims on the Table G2a Credit institutions’ interest rates on kuna loans to central government and social security funds 30 households not indexed to foreign currency (new business) 56 Table D3a Other monetary financial institutions’ foreign Table G2b Credit institutions’ interest rates on kuna loans to currency claims and kuna claims indexed to foreign households indexed to foreign currency (new business) 57 currency on the central government and social security funds 30 Table G2c Credit institutions’ interest rates on foreign Table D4 Other monetary financial institutions’ claims on currency loans to households (new business) 58 other domestic sectors 31 Table G3b Credit institutions’ interest rates on kuna loans to Table D4a Other monetary financial institutions’ foreign non–financial corporations indexed to foreign currency currency claims and kuna claims indexed to foreign (new business) 60 currency on other domestic sectors 31 Table G3c Credit institutions’ interest rates on foreign Table D5 Distribution of other monetary financial institutions’ currency loans to non–financial corporations (new business) 61 loans by domestic institutional sectors 32 Table G4 Credit institutions’ effective interest rates on Table D5a Distribution of other monetary financial institutions’ selected loans (new business) 62 foreign currency and kuna loans indexed to foreign Table G5a Credit institutions’ interest rates on kuna deposits currency by domestic institutional sectors 34 and loans not indexed to foreign currency (outstanding Table D5b Distribution of other monetary financial institutions’ amounts) 63 loans by domestic institutional sectors and original maturity 35 Table G5b Credit institutions’ interest rates on kuna deposits Table D5c Distribution of other monetary financial institutions’ and loans indexed to foreign currency (outstanding amounts) 64 loans to households by purpose and currency composition 36 Table G5c Credit institutions’ interest rates on foreign Table D5d Distribution of other monetary financial institutions’ currency deposits and loans (outstanding amounts) 65 working capital and investment loans to non–financial Table G6a Credit institutions’ interest rates on kuna deposits corporations by currency composition 37 and loans not indexed to foreign currency (new business) 67 Table D6 Demand deposits with other monetary financial Table G6b Credit institutions’ interest rates on kuna deposits institutions 37 and loans indexed to foreign currency (new business) 68 Table D7 Kuna deposits with other monetary financial institutions 38 Table G6c Credit institutions’ interest rates on foreign Table D8 Foreign currency deposits with other monetary currency deposits and loans (new business) 69 financial institutions 39 Table G7a Interest rates in interbank demand deposit trading 71 Table D8a Currency composition of time deposits of Table G7b Interest rates quoted on the interbank market (ZIBOR) 72 households and non–financial corporations 40 Table G8a Interest rates on MoF treasury bills 73 Table D8b Maturity composition of time deposits by sectors 41 Table
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