Borovic: “Serbia plunging deeper into debt is a noose around future generations’ necks”

Chairman of the Economy and Finance Committee of the People’s Party, Borislav Borović, said the government’s intention to borrow additional 1.9 billion euros is a suicidal step and a revenge on the future generations of Serbia.

“Today, the Serbian parliament will decide on a new borrowing of 1.9 billion euros, which, along with the issuance of bonds in dinars and euros since December to the total value of 200 million euros, will increase public debt by more than 2 billion euros in just over a month,” Borovic said.

According to him, “this suicidal borrowing is a kind of revenge towards the generations to come because such an irresponsible policy will tie a noose around their necks from which it will be difficult to free themselves. The stability of Serbian public finances is the regime’s deception, and no one can determine with certainty the exact amount borrowed by the state, if we look at the signed agreements which implementation has yet to be considered, although we are already beginning to pay the consequences.”

He also underlined that the terms and conditions under which the state is borrowing the money are not known, nor are those that guarantee the repayment of the loan. “The estimate that during this government’s term in the office public debt has gone up by 100% in 10 years is too optimistic, and unfortunately there will be unpleasant surprises when the financial inventory is made after this government is no longer in power,” Borovic added.

He believes that in a situation where interest rates are going up worldwide, “taking loans from 18 different commercial banks and 5 financial institutions worth almost 2 billion euros in a single day highlights the difficult financial situation in which this irresponsible government has put the country in.”

(Nova, 01.02.2022)


This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top