The beginning of 2023 brings new default interest rate

The Croatian National Bank published the average default interest rate that the European Central Bank applied to its last capital refinancing operations calculated for the reference period from 1 January 2023 to 30 June 2023. The stated average default interest rate amounts to 2.50%.

The Civil Obligations Act determines the interest rate by increasing the stated average default interest rate by 8 percentage points on relations from trade contracts and contracts between a trader and a public entity, and in other relations by 3 percentage points.

Following is an overview of default interest rates for the first half of 2023:

Relation Default interest rate as of January 1, 2023
Contracts between traders 10,50 %(2,50+8 p.p.)
Contracts between traders and public law entities 10,50 %(2,50+8 p.p.)
Other relations 5,50 %(2,50+3 p.p.)

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