Serbia plans to auction EUR 1.3bn worth of debt in Q2 2014, equaling to 3.7% of GDP

By bne IntelliNews March 20, 2014

Serbia plans to borrow the equivalent of EUR 1.27bn on the domestic market in the second quarter of 2014, which is roughly 29% more than the planned domestic debt issuance in the like period of 2013, the finance ministry's Treasury department said. The figure equals to 3.7% of the full-year GDP projection, according to IntelliNews calculations.

The ministry will issue euro-denominated securities worth EUR 425mn in Q2, up from EUR 225mn planned in Q2 2013, and dinar-denominated debt worth RSD 99bn (EUR 854mn), up 11.2% y/y.

The maturities will range from three months to three years for the dinar debt and from 53 weeks to five years for the euro debt.

In 2013, Serbia issued the equivalent of EUR 3.8bn (11.6% of the full-year GDP forecast) of debt paper on the domestic market. The country also placed two Eurobond issues in February and November on the international financial market worth a combined USD 2.5bn (EUR 1.8bn).

In 2014, Serbia plans to borrow some EUR 5.6bn to service its debt and finance a budget gap that is expected to reach 7.1% of economic output. In net terms, the country’s public debt will increase by EUR 1.6bn in 2014, finance minister Lazar Krsic has said earlier.

Related Articles

Balkan baker Don Don to continue regional expansion with new Serbian facility

Don Don, a regional bakery group founded in Slovenia but active throughout the Western Balkans, will open a new production facility in the eastern Serbian town of Zajecar in spring 2018, Ales ... more

Serbia’s central bank cuts policy rate for first time since July 2016

Serbia’s central bank decided to cut the monetary policy interest rate by 25bps to 3.75% at its monetary policy board meeting on September 7. The policy rate has been held constant at 4% since July ... more

Footballer's Bentley rams Serbian president's motorcade

An investigation is ongoing after a Bentley car hit Serbian President Aleksandar Vucic's motorcade on September 2, Deputy Prime Minister and Minister of Interior Affairs Nebojsa Stefanovic told ... more

Dismiss