Serbia: Foreign debt at EUR 26.07 billion! BELGRADE – Serbia’s foreign debt stood at EUR 26.07 billion at the end of June this year, reflecting a drop of around 0.1 percent in comparison to the previous month, reads the latest issue of the journal published by the Market Research Institute (IZIT). At the end of June, the country’s foreign debt was 1.4 percent up on December 2012. The public sector was burdened with an external debt of almost EUR 12.9 billion, the figure being 0.3 percent down on last month, but 6 percent up on December last year. The total foreign debt of the private sector amounted to around EUR 13.1 billion, and was at almost the same level as in the previous month, but reflected a drop of 2.8 percent when compared to the end of December last year. The public sector accounted for 49.5 percent of Serbia’s total external debt, which is slightly above last December’s level (47.4 percent). At the end of 2008, the public sector made up 30.9 percent of the country’s overall foreign debt. As stated, Serbia is already a highly-indebted country with a ratio of the total foreign debt to the gross domestic product (GDP) at 83.1 percent, 80 percent being the threshold for entering the zone of high indebtedness. This is further confirmed by a ratio of the debt repayments to the total exports of goods and services which stood at 35.6 percent at the end of June this year, the threshold for sounding the alarm being at 25 percent. A particularly worrying signal is that a ratio of the debt repayment to the GDP was at 15.4 percent, which means that, on an annual level, the debt saw a steeper rise than the GDP, IZIT warned.
Posted on: Sun, 08 Sep 2013 16:12:16 +0000
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