Monday, May 13, 2013

Serbia repays EUR 309 million in April

5/13/2013 9:58:00 AM
BELGRADE - Serbia's public debt has decreased by EUR 309 million to reach EUR 19.08 billion, while the share of public debt in GDP has dropped to 56.1 percent, the Ministry of Finance and Economy released in a statement on Sunday. In April, Serbia made an early repayment of half of the remaining debt to the London Club of creditors, and this is the main reason why its public debt has decreased. 

 April also saw significant deleveraging on the domestic financial market, as RSD 39 million of debt from previously issued securities was paid off. The debt payoffs have led to a further decline in interest rates and increasing confidence in government bonds both on the domestic and the international capital market. The Ministry of Finance will continue to use cheaper loans to pay off expensive loans, the statement reads. 

 The government will also undertake other activities to reduce the share of public debt in GDP. The most significant measures will be the ones to strengthen the country's economy and exports and reduce the budget deficit to sustainable levels, says the statement. Screenshot video Tanjug

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