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

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