Skopje, 30 September 2024 (MIA) - The National Bank said Monday that as of June 30, 2024, the net external debt equaled EUR 4,481 million (or 30.8% of the forecasted GDP). In the second quarter of 2024, the net external debt of the country increased by EUR 109 million, or by 2.5%. Observing structure, the private net debt still has a greater share in the total net debt with 64%.

During the second quarter of 2024, the negative net international investment position (IIP) increased by EUR 185 million to EUR 8,622 million, which is 59.2% of GDP forecasted for 2024. Most of this amount (88%) is net liabilities on direct investments, of which 71% on equity.

“At the end of the second quarter of 2024, the gross external debt was EUR 11,875 million and increased on a quarterly basis by EUR 76 million. Gross external claims decreased by EUR 33 million and amounted to EUR 7,394 million. The quarterly increase in liabilities, amid simultaneous reduction in claims led to a growth of the net external debt by EUR109 million, so that at the end of June 2024 it amounted to EUR 4,481 million,” the Bank said.

Compared to the end of 2023, the gross external debt increased by EUR 519 million, or 4.6%. However, in the first half of 2024, the debt, with the effect of specific activities for foreign reserves management with foreign reserves of the central bank being excluded, increased by EUR 400 million. The growth is due to the increased private external debt (by EUR 366 million) and the increased public debt (by EUR 34 million). In the private debt, growth was registered in intercompany lending (by EUR 315 million) and non-banking private sector (by EUR 180 million), while the debt of private banks decreased (by EUR 129 million). Regarding the public debt, the growth is mainly as a result of the increased liabilities of the public banks and public enterprises (by EUR 18 million) and the government sector (by EUR 13 million).

Compared to the end of the preceding year, the gross external claims increased by EUR 404 million. If the effect of the central bank specific activities related to foreign reserves management is excluded, the gross external claims are higher by EUR 162 million, as a result of increased private claims (by EUR 431 million), amid reduced public claims (by EUR 269 million). The rise in private claims stems from the increased claims from intercompany lending (by EUR 336 million) and other sectors (by EUR 164 million), amid a fall in the claims of deposit-taking corporations (of EUR 69 million).

“At the end of the second quarter of 2024, the gross external claims amounted to EUR 7,394 million (or 50.8% of the GDP forecast) and registered a quarterly decrease of EUR 33 million (or 0.4%). If we exclude the effect of the central bank’s specific foreign reserves management activities, the gross external claims are higher by EUR 81 million and amount to EUR 7,151 million. This quarterly growth is a result of the higher private and public claims (by EUR 59 million and EUR 22 million, respectively). The quarterly growth of the external claims of the private sector is a result of the increased claims of other sectors (by EUR 58 million), amid almost unchanged claims of deposit-taking corporations and intercompany lending. The growth of public claims is due to the increased claims of the central bank,” the Bank said in a press release. 

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