ECONOMIC BRIEFS

Slovak 1998 gross foreign debt totalled $11.8 billion

Slovak total gross foreign debt at the end of 1998 stood at $11.804 billion compared with $11.909 billion at the end of November, the central bank said on March 18. Of this figure, the central bank and the government held $2.407 billion, while commercial banks accounted for $2.66 billion and the corporate sector for $6.633 billion. $4.58 billion of the full year debt figure was short-term debt, about 40% of the total. Between 50 and 60% of the long term debt held by the corporate sector was guranteed by the government.

The 1998 debt figure was almost $2 billion higher than the year before, and over $4 billion up from 1996. In 1999, the NBS expects a drop in foreign indebtedness to $10-11 billion because of a decision by the NBS to abolish the foreign exchange position limit now applied to domestic banks and branches of foreign banks. This measure should decrease the total assets of commercial banks by $2 billion in total.

Get daily Slovak news directly to your inbox

Top stories

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Want to publish a book? You can do it yourself

Self-publishing is setting a new trend.

Nikoleta Kováčová has published two cookbooks without the aid of a publishing house.

Hospital manners expose the toxicity of Kollár

Unjustified privileges overshadow some good news of the coalition's work. Halloween testing will not be repeated during advent time.

PM Igor Matovič (l) and Speaker of Parliament Boris Kollár

News digest: Slovakia still dealing with the loss of its talent

Economy minister promises extensive support for hydrogen technologies in Slovakia. Far-right supporters protested in front of PM’s house during the weekend.

The far-right ĽSNS organised a protest in front of PM Igor Matovič's house in Trnava.