Serbia's Debt Lowered to 65.7 Percent of GDP at End of June
In mid-October 2020, Serbia's public debt surpassed EUR27 billion, including the unsecured debt of local self-governments amounting to roughly EUR400 million, Belgrade Faculty of Economics, Finance and Administration (FEFA) professor Goran Radosavljevic said on Oct. 19.
"The public debt includes all the obligations on account of the funds the state of Serbia has drawn, and what was signed and has not been drawn will become the public debt only after the funds have been activated," Radosavljevic told BETA.
Party of Freedom and Justice leader Dragan Djilas said that Serbia had drawn EUR27 billion, whereas it owed or would owe in the next several years "50.4 billion euros when the funds are drawn."
Radosavljevic said that "it goes without saying that some dues will have been paid in the meantime, and so certainly the public debt in the future will not be equal to the simple sum of the current and all the agreed future debts. Therefore, the claim that Serbia will owe EUR50 billion in the coming years because it has arranged that level of new debt at this time is hard to confirm," he said.
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