Serbia’s 1st quarter public debt reaches € 24.7 billion

NEWS 01.06.202012:59
Uprava carine

The public debt in the first quarter of 2020 in Serbia rose to 24.7 billion Euro, 370 million up compared to the end of last year, reaching 52.8 percent of the country’s GDP, the Parliamentary Budget Office for Public Debt has said on Monday.

The increase was recorded before the outbreak of the coronavirus epidemic on March 6 and 5.1 billion Euro Serbia’s Government economy package for reducing the consequences of the disease.

Some 115 million Euro is due to the unfavourable exchange rate, while the rest is the result of 225 million Euro net loans in the local market.

Long-term bonds of 12.8 billion Euro make a more significant part of the debt, while a smaller chunk of 9.6 billion comes from the international financial institutions and foreign governments.

Serbia’s direct debt due to money borrowing at the end of March was 22.8 billion, 380 million higher than by the end of 2019, or some 264 million Euro more without calculating the unfavourable foreign currency rates.