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NBS: Net debt in Slovak economy up €300 million in Q4 2011

Net debt in the Slovak economy rose by €300 million in the final quarter of 2011, the central bank (NBS) reported on Wednesday, March 21.

Net debt in the Slovak economy rose by €300 million in the final quarter of 2011, the central bank (NBS) reported on Wednesday, March 21.

"This deterioration represented 1.9 percent vis-a-vis GDP for the relevant quarter," said NBS as quoted by the TASR newswire. The net debt was 0.9 percent higher quarter-on-quarter, but it fell by 1.8 percent year-on-year. Developments in the fourth quarter were mainly due to financial transactions carried out by public administration bodies. The most significant single factor was a €1.2-billion fall in deposits in Slovak banks, an increase in long-term credit of €700 million received from abroad and a rise of €600 million in issued treasury bills held by domestic financial institutions.

Meanwhile, households and non-profit institutions serving households improved their credit position by €1.2 billion during the quarter.

Source: 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.

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