Government guarantees and public debt in Croatia | Zendy

Anto Bajo | Zendy; Marko Primorac | Zendy

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Government guarantees and public debt in Croatia

Author(s) -

Anto Bajo,

Marko Primorac

Publication year - 2011

Publication title -

financial theory and practice

Language(s) - English

Resource type - Journals

eISSN - 1846-887X

pISSN - 1845-9757

DOI - 10.3326/fintp.35.3.1

Subject(s) - debt , government (linguistics) , business , government debt , public finance , accountability , economics , financial system , croatian , state (computer science) , public sector , economic policy , finance , accounting , macroeconomics , economy , political science , linguistics , philosophy , algorithm , computer science , law

Government financial and performance guarantees have been issued in Croatia since 1996, to support funding and ensure favourable borrowing conditions in the financial market for companies in majority state ownership. However, government guarantees have rarely been part of defined strategies and goals of public debt and risk management. Despite their steady growth, the structure of active guarantees and their influence on Croatian public debt are still unknown. This paper analyses the amount and structure of state guarantees, their maturities and the authority and accountability for their management, and it compares the structure of guarantees in terms of economic sectors. The main objective of the paper is to determine the influence of government guarantees on the public debt growth.

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