Mali Minister: ‘UAE loan will be used to refinance debt’

“The loan granted by the United Arab Emirates will be used to refinance the debt that expired in January,” said Finance Minister Siniša Mali and underlined that the state is not increasing public debt, but settling old debts.

Mali also specified that Serbia’s public debt is currently EUR 30.5 billion and that the German debt is almost 80 times higher, while the US debt is $19.2 trillion, and refuted claims that Serbia is over-indebted. He said that no conclusions should be drawn from the absolute figures of debt.

The minister pointed to the significant share of public debt in GDP, which in Serbia, stands at 54.7 per cent, thus far below the Maastricht standard of 60%, he said citing Eurostat data on a number of European countries where the share of public debt in GDP is drastically higher.

He assessed that Serbia is in a good position compared to the much more developed countries.

(, 14.09.2022)

This post is also available in: Italiano

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