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ECONOMIC BRIEFS

Debt servicing to hit 83 billion Sk next year

In 1999, the debt servicing costs of the Slovak Republic will amount to 83 billion Sk ($2.3 billion). Of this figure, 64 billion Sk will be repayments of loans principals, and the remaining amount in interest. Deputy Premier for Economy Ivan Mikloš announced these figures at a meeting of the Slovak Economic Forum on November 30.

This year, net public sector debt has reached 140 billion Sk ($3.9 billion). In addition to this, an indirect debt of 100 billion Sk will mature in the next few years in the form of FNM (national privatization agency) bonds.

The total foreign debt of Slovakia is $12.2 billion (about 448 billion Sk). The corporate sector's share of this debt is 80%, of which 58% (about 200 billion Sk) are state-guaranteed loans.

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