Public debt totalled 15.7 percent of GDP in 2006, while the figure for the EU as a whole reached 62.5 percent, according to data from the European Central Bank (ECB) published on July 9.
Along with other countries in Central and Eastern Europe, Slovakia has a relatively low ratio of debt, including mortgages. At the same time, the ECB data shows that year-on-year percentage debt increases between 2001-06 in new EU-member states were significantly higher than in the EU15. While the average year-on-year debt increase in the EU25 in the first half of 2006 was 9 percent, the figure for Slovakia was 51 percent, while Slovenia recorded 69 percent. The rise in credit in Slovakia is largely due to improved living standards, the construction boom, and a wider range of credit on offer. TASR
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
10. Jul 2008 at 7:00