Serbia’s public debt remains steady in March

Serbia’s public debt remains steady in March
By bne IntelliNews May 8, 2017

Serbia’s general government public debt stood at RSD3,043.13bn (€24.55bn) at end-March, equal to 69.2% of GDP, the latest data from the ministry of finance’s public debt administration showed.

After Serbia was hit by the global economic crisis, its public debt ballooned from 28% of GDP in 2008 to over 70% at end-2014. Although this trend was reversed in 2015-2016, the debt to GDP ratio remained high at 72.9% at the end of 2016. The downsizing trend is expected to continue in 2017-2019.

In March, the debt level remained steady from February when it increased slightly to RSD3,041.91bn (€24.55bn) or 69.2% of GDP, from RSD3,038bn (€24.5bn) at end-January, equal to 69.1% of GDP,

According to the public debt administration's newest data, of Serbia’s total public debt on March 31, 40.5% was in euros, 33.6% in US dollars and 20.5% in Serbian dinars, while the remaining 5.4% were shared between SDRs (3.6%), Swiss francs (0.5%) and other currencies (1.3%).

The general government public debt structure remained similar to the structure in February. Serbia’s total public debt on February 28 was 39.8% in euros, 34% in US dollars and 20.7% in Serbian dinars.