Serbia’s public debt in the first quarter of 2020 to 24.7 billion euro, up 370 million compared to the end of last year, reaching 52.8 per cent of the country’s GDP, the Parliamentary Budget Office for Public Debt has said on Monday.
The increase was recorded before the outbreak of the coronavirus epidemic on March 6 and the government’s economy package worth 5.1 billion euro allocated for mitigation of the consequences of the coronavirus pandemic.
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Some 115 million euro is due to the unfavourable exchange rates on loans taken out by the government, while the rest is the result of 225 million euro net loans in the local market.
Long-term bonds of 12.8 billion euro make a more significant part of the debt, while a smaller chunk of 9.6 billion comes from the international financial institutions and foreign governments.
Serbia’s direct debt due to money borrowing at the end of March was 22.8 billion, 380 million higher than by the end of 2019, or some 264 million euro more without calculating the unfavourable foreign currency rates.
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