Photo by Dimitrije Milenkovic on Unsplash
The City of Belgrade will have to rebalance its 2025 budget in October due to some EUR200 million of outstanding debts, the non-governmental Center for Local Government announced on Sept. 29.
The NGO, which focuses on the operation of Serbia’s local governments, stated that, by the end of 2025, Belgrade will have to pay RSD9.3 billion owed to suppliers since 2024. The debts were previously purchased by private banks, which delayed collection for one year.
“The RSD620-million debt which the Secretariat for Communal and Housing Activities owed Jedinstvo from Sevojno was bought by Erste Bank, while the RSD1.76-billion debt the Secretariat for Public Transit owed Strela from Obrenovac [was bought] by Banca Intesa. There are many more such examples, which the State Auditing Service has pointed out as well,” the Center for Local Government explained in its statement.
The Center elaborated by saying that, in 2025, the City of Belgrade will have to settle not only current expenditures as well as last year’s debts but also the interest rates and bank expenses stemming from said loans.
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