What is the debt of Serbia?
So far, Serbia has borrowed a total of 8.37 billion euros from European banks, including the EBRD, the EIB, the CEB, the German Development Bank and the International Bank for Reconstruction and Development ( BIRD), while it owes 1.15 billion euros to the Chinese bank EXIM and a total of 2.66 billion euros to foreign governments, writes the magazine Biznis i Finansije.
The latest official report on the state of public debt as of March 31 indicates several interesting facts.
For example, Serbia currently owes more on the basis of securities issued on the domestic market (10.88 billion euros) than on the foreign market (6.16 billion euros). As for the current debt to foreign governments, neither the EU, nor China, nor Russia are in the first place, but it is the government and the Abu Dhabi Fund with 1.72 billion euros, what Serbia owes.
In addition, Serbia owes a total of 2.66 billion euros to foreign governments, about as much as to the International Bank for Reconstruction and Development (IBRD), to which it currently owes 2.19 billion euros. ‘euros.
At the end of the first quarter, the total public debt stood at 28.1 billion euros, or 55.7% of GDP; the limit was set by Serbian President Aleksandar VuÄić, who declared that “the share of public debt cannot exceed 60.5% of GDPâ€.
Instead, the budget revision projects a deficit of 381.7 billion dinars and an additional 478.6 billion dinars for the repayment of capital and the purchase of financial assets. This means that the State should provide a little more than 7 billion dinars to cover these two amounts, which raises the question of the price of future loans, both bilaterally, with foreign countries, and on the international financial market.
The ratio of public debt to GDP at the end of this year will depend on the achievement of the government’s projection of economic growth of 6%, the basis on which the budget and the budget review have been carried out.
(Danas, 07/01/2021)
https://www.danas.rs/ekonomija/kome-sve-srbija-duguje-i-koliko/
This article is also available in: Italiano