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.) |
