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Economic Institute Highlights Rising Foreign Debt

Ljubljana, 26 January (STA) - The Economic Institute at the Ljubljana Law Faculty has pointed out in its latest Economic Trends report that Slovenia's foreign gross and net debts have reached record levels, exceeding EUR 40bn and EUR 10bn last October respectively.

The share of state debt has been increasing in the gross debt category, while private debt, which is twice as high, has been falling gradually since December 2008, suggests the report released on Tuesday.

Slovenia's foreign debt increased last year both in absolute terms as well as relative to the size of GDP or revenues from exports of goods and services.

Net debt stood at around a third of GDP or 40% of revenues from the running budget. Servicing the debt will cost around 3% of GDP in 2010, the Economic Institute moreover said.

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