External debt grows further

28-06-2013

The Czech Republic's external debt grew by 42.7 billion crowns to just below 2,000 billion in the first quarter of 2013, accounting for 51.9 percent of GDP, the Czech National Bank said on Friday. The debt grew mainly on higher bank and government debts. The year-on-year, external debt rose by 65.7 billion crowns. The growth in external debt was due mainly to the banking sector’s external liabilities. Their growth was linked primarily to an increase in short-term deposits accepted from non-resident banks and non-bank clients, the bank said.