Skopje, 30 June 2022 (MIA) – As of end of the first quarter of 2022, the gross external debt amounted to EUR 9,977 million, with a quarterly increase of EUR 430 million, show National Bank data, with gross external claims recording a rise of EUR 8 million up to EUR 5,917 million. “The larger quarterly increase in liabilities against claims led to a growth of the net external debt by Euro 422 million, and at the end of March 2022 it amounted to Euro 4,060 million,” the central bank said in a press release. The negative net international investment position1 amounted to Euro 7,789 million, or 58.5% of the GDP forecast for 2022. Most of this amount (81%) is net liabilities on direct investments, of which 73% on equity. At the end of March 2022, the gross external debt totaled Euro 9,977 million (or 74.9% of the forecasted GDP) and registered quarterly increase of Euro 430 million (or by 4.5%). Corrected for the effect of the specific foreign reserves management activities of the central bank from the debt, gross debt registers quarterly increase of Euro 486 million. This quarterly change is a result of the increased private debt (by Euro 642 million), while the public debt registered a quarterly decrease (by Euro 156 million), notes the bank. The growth of the private debt is due to the increased debt of intercompany lending (by Euro 428 million), private banks (by Euro 128 million) and non-banking private sector (by Euro 86 million). The quarterly decrease in the public external debt of Euro 156 million is mainly a result of the reduction of the government sector debt (by Euro 145 million), as well as the reduction of the debt of public enterprises and public banks (by Euro 13 million). Gross external claims amounted to Euro 5,917 million (or 44.4% of the forecasted GDP) and registered quarterly increase of Euro 8 million (or by 0.1%). “If we exclude the effect of the central bank specific activities related to foreign reserves management, the gross external claims are higher by Euro 40 million and amount to Euro 5,915 million. This quarterly change is a result of the higher private claims by Euro 438 million amid lower public claims of Euro 398 million,” says the bank. It adds that the quarterly growth of the external claims of the private sector is a result of the increased claims of intercompany lending (by Euro 397 million) and nonbanking private sector (by Euro 73 million), amid reduced claims of private banks (by Euro 33 million). As of 31 March 2022, the net external debt equaled Euro 4,060 million (or 30.5% of the forecasted GDP). In the first quarter of 2022, the net external debt of the country increased by Euro 422 million, or by 11.6%. Analyzing the structure, the private net debt (58%) still has a larger share in the total net debt. “The negative net international investment position (IIP) increased by Euro 481 million to Euro 7,789 million, which is 58.5% of GDP forecasted for 2022,” reads the press release. The quarterly increase in the negative net IIP results from the more intensive increase in liabilities (by Euro 527 million) relative to the increased assets (by Euro 46 million). Observed by instrument, the net liabilities based on debt instruments increased by Euro 422 million, while net liabilities based on equity instruments increased by Euro 59 million.