Serbia’s external debt growth quickens to 8.2% y/y at end-Jun 2013

By bne IntelliNews August 22, 2013

Serbia's external debt stock rose 8.2% y/y to EUR 26.1bn at end-June, speeding up from a 7.9% increase the month before, central bank data showed. According to IntelliNews calculations, the foreign debt equalled to 78.7% of the full-year GDP forecast, slightly up from 80.5% of GDP a year earlier. On a monthly basis, the external debt edged down 0.1% m/m at end-June for a third straight month, due to falling foreign liabilities to the IMF and the EBRD.

Long-term public-sector borrowing climbed 17.1% y/y to EUR 12.91bn at end-June. Long-term private external indebtedness also inched up 1.1% y/y to EUR 12.85bn on the back of rising corporate liabilities.

Short-term external debt stock contraction narrowed to 9.8% y/y totalling EUR 308.5mn at end-June, due to slower annual decline of the banking sector indebtedness.

Serbia's external debt growth braked to 6.6% in 2012 from 21.8% in 2008, reflecting the corporate and banking sector deleveraging. On the other hand, the external liabilities of the public sector increased steadily over the period due to rising fiscal imbalances.

Related Articles

The Western Balkans needs the US, Serbian president says

Serbian President Aleksandar Vucic on March 14 stressed the importance of the US presence in the region, a controversial message given the opposition of many Serbs, especially the pro-Russian ... more

Chinese Zijin Mining lines up for privatisation of Serbian copper giant RTB Bor

Chinese mining firm Zijin Mining is interested in taking part in the privatisation of Serbian copper smelting and mining complex Rudarsko Topionicarski Basen Bor (RTB Bor) that government plans to ... more

Serbia plans countermeasures against Macedonia in flour import dispute

Serbia plans to introduce countermeasures against Macedonia over hampered imports of flour, if the two sides fail to find a solution on March 7, media reported. The problem emerged after the ... more