Serbia’s external debt rises 1.9% y/y to EUR 26bn at end-Jan 2014

By bne IntelliNews March 24, 2014

Serbia's external debt stock increased 1.9% y/y to EUR 25.9bn at end-January 2014, speeding up from a 0.5% y/y rise the month before, driven by rising medium and long-term public indebtedness, central bank data showed.

According to IntelliNews calculations, the foreign debt equalled to 79.7% of the full-year GDP forecast, down from 85.8% a year ago. On a monthly basis, the external debt edged up 0.1% at end-January, following a 1.2% m/m hike at end-December.

Long and medium-term public sector borrowing rose 10.8% y/y to EUR 13.3bn at end-January, quickening from an 8.1% y/y growth the month before. Long and medium-term private external indebtedness declined for a fifth straight month in January, shrinking 4.9% y/y to EUR 12.4bn and following a 4.5% contraction at end-December 2013.

The short-term external debt stock plunged 50.3% y/y to EUR 184.7mn at end-January, easing from a 57.0% annual drop the month before. The reading was dragged down by both falling banking sector and corporate liabilities.

Serbia's external debt stock inched up 0.5% y/y to EUR 25.8bn at end-2013, easing from a 6.6% growth the year before, as rising long-term public indebtedness was partly offset by falling banking sector foreign liabilities

We expect higher public sector external liabilities to remain the key driver of Serbia’s foreign debt growth in 2014 due to rising fiscal imbalances. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

EBRD and AIK Banka forge €50mn loan for Serbian SMEs

The European Bank for Reconstruction and Development (EBRD) is partnering with AIK Banka to provide a €50mn loan for local small and medium-sized enterprises (SMEs) in ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  4. Russia’s war economy boosted by rising oil prices
    8 days ago
  5. Poland’s Orlen paid $400mn to scammers for oil that never arrived
    12 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss