News Column

Montenegro's public debt increases 11% y/y to EUR 1.9bn at end-November 2013

January 27, 2014

Montenegro's public debt rose 10.9% y/y to EUR 1.89bn at end-November 2013 , quickening from a 7.2% y/y growth the month before, the finance ministry said in its monthly bulletin. The reading accounted for 57.0% of the full-year GDP forecast, up from 50.9% a year ago, according to IntelliNews calculations based on data from the finance ministry. In monthly terms, the public debt went up 3.0 in November lifted by higher external liabilities. The end-November domestic debt grew by 12% y/y to EUR 440.4mn , equalling to 13.3% of the full-year GDP forecast. The external liabilities rose 10.6% y/y to EUR 1.4bn (43.7% of GDP). Montenegro's public debt has increased sharply since 2008 when it stood at just 29% of GDP. It rose 14% to EUR 1.7bn (51% of GDP) in 2012 lifted by the country's development policy loan agreement with the World Bank ( EUR 59mn ) and two credit arrangements with Credit Suisse ( EUR 250mn ) aimed at supporting the budget. Montenegro public debt, EUR mn Dec'11 Dec'12 Aug'13 Sep'13 Oct'13 Nov'13 y/y,% m/m,% Total 1,483.5 1,699.5 1,844.9 1,846.5 1,832.0 1,886.3 10.9 3.0 Internal debt 419.8 404.5 433.8 480.9 471.7 440.4 12.0 -6.6 External debt 1,063.7 1,295.0 1,411.1 1,365.6 1,360.3 1,445.9 10.6 6.3 % of GDP 45.9 50.9 55.7 55.8 55.3 57.0 / / Source: MinFin


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: IntelliNews - Weekly Reports


Story Tools