The target was set at 1.0 billion kuna. Some 1.3 billion kuna worth of bills mature this week.

Non-banking investors bought some 60 percent of the paper.

Occasionally, the ministry also sells bills with three-month and six-month maturities, as well as those denominated in euros.

Following the auction, Croatia's short-term local currency debt fell to 17.06 billion kuna from 17.34 billion.

The next auction will take place on Feb. 19.