Serbia’s DEBT increased by EUR 300 million in a month

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Serbia’s public debt at the end of May this year was EUR 23.7 billion, which is 51.8 percent of this year’s estimated gross domestic product (GDP), the Ministry of Finance has announced. The public debt was EUR 23.4 billion in April, i.e. 51.1 percent of GDP. At the end of 2018 debt was around EUR 23 billion, which was 53.8 percent of GDP, and at the end of 2017 it was EUR 23.2 billion, which was 61.5 percent of GDP. Public debt was at its lowest in 2008, when it was EUR 8.78 billion, or 28.3 percent of GDP. According to the Law on the Budget System, the stake of public debt in GDP is limited to 45 percent. According to the Ministry, the surplus in Serbian budget at the end of this year’s May was RSD8.3 billion, since revenues were RSD 498.4 billion and expenditures were RSD 490.1 billion. At the state level, covering the period between January and May, fiscal surplus was RSD 4.9 billion and primary fiscal surplus was RSD 62.2 billion. According to annual plan for implementation of state budget, fiscal deficit of RSD 43.3 billion in planned for that period, which means that realized result is better by RSD 48.2 billion, the Ministry of Finance has pointed out.

Source: Beta

Photo: Pixabay