Serbia’s public debt increases 11% y/y to EUR 19.5bn at end-Nov 2013

By bne IntelliNews December 17, 2013

Serbia’s public debt rose 11% y/y to RSD 2,224.7bn (EUR 19.5bn) at end-November 2013 lifted by the country’s two Eurobond issues this year worth a combined USD 2.5bn, the public debt administration said in a statement. The reading equalled to 59.1 of the forecast full-year GDP, up from 58.7% of GDP a year ago. In monthly terms, the public debt inched up 1% m/m in November.

The bulk of the public debt is in foreign currency, out of which 47.6% is in euro and 25.2% in US dollars whereas 20.9% is in local dinar currency.

Serbia repaid RSD 464bn (EUR 4.1bn) of its public liabilities in January-November, out of which principal payments amounted to RSD 380bn, while interest and other costs were RSD 84bn.

The government serviced some RSD 268bn of its security papers debt, as well as RSD 96bn of due liabilities to foreign creditors over the period. Payments in respect of issued state guarantees equalled to RSD 27bn in the first eleven months of the year.

In January-November, the Treasury sold RSD 353bn (EUR 3.1bn) worth of securities on the domestic market, out of which RSD 279bn ​in RSD-denominated and RSD 75bn (EUR 0.7bn) in euro-denominated debt paper. Serbia also placed two Eurobond issues on the international debt market this year, bringing the total borrowing from both at home and abroad up to RSD 562bn, or nearly 15% of the full-year GDP forecast.

Serbia’s public debt is projected to increase to 64% of GDP this year from 61% of GDP at end-2012, well above the legal limit of 45%, according to the government. It is forecast to start declining in 2016 thanks to falling budget deficits.
 

Related Articles

PMs of Serbia and Kosovo clash at Western Balkan summit ceremonial dinner

Serbian Prime Minister Aleksandar Vucic reportedly confronted his Kosovan counterpart at the ceremonial dinner during the Western Balkan Summit, over Pristina’s decision to re-register ... more

US puts Albania, Bosnia and Serbia on blacklist of major money laundering countries

The US department of state has included Albania, Bosnia & Herzegovina and Serbia in its latest list of major ... more

27 companies submit bids for Belgrade airport concession

Serbia’s Minister of Construction, Transport and Infrastructure Zorana Mihajlovic announced on March 13 that 27 companies responded to Belgrade’s public call for a 25-year concession to operate ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss