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.
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