Serbia aims to cut debt to 47 per cent of GDP

Ana Tripović, the acting head of the Serbian Public Debt Administration at the country’s Ministry of Finance has said that the government intends to reduce the country’s state debt to around 47 per cent of the GDP by the end of 2022, Serbian state news agency Tanjug has reported.

Speaking in an interview with Serbian monthly magazin Biznis, Mrs Tripović pointed out that Serbia’s debt-to-GDP ratio had dropped by almost 20 per cent during the last four years, a result of high growth rates, low and stable inflation, balanced public finances and a set of overall fiscal consolidation measures.

She noted that the country’s public debt had stood at 70 per cent of GDP at the end of 2015 and had declined to 53.6 per cent by December 2018, at “a pace quicker than projected.”

According to the latest reports from the Public Debt Administration, Serbia’s state debt currently amounts to 23.8 billion euros, up from 23.4 billion euros as of March 2019.