Serbia’s Debt-to-GDP Ratio Rising, Budget Deficit Reduced

Money (BetaPhoto/Milos Miskov)

At the end of October, Serbia’s government debt was EUR35.42 billion, which equates to 51.6 percent of the gross domestic product, the Ministry of Finance announced on Dec. 6.

The country’s public debt just a month before, at the end of September, amounted to EUR35.46 billion, i.e. 51.3 percent of the GDP.

On Oct. 31, the budget deficit was RSD5.6 billion, which is RSD21.9 billion less than the deficit planned by the revised budget.

Compared to the budget pre-revision, the RSD5.6-billion deficit marks a RSD125.4 billion improvement, considering that the deficit for late October was originally supposed to be RSD131 billion.