Public debt increases by over EUR 0.5bn

Public debt increases by over EUR 0.5bn

BELGRADE -- Serbia's public debt rose by over EUR 0.5 billion since the beginning of 2014, and totaled EUR 20.66 billion at the end of June, the finance ministry has said.

According to the ministry's data, on the last day of June this year, the absolute amount of public debt was on the rise, but at the same time its share in the gross domestic product (GDP) dropped to 63 percent of the GDP, while on December 31, 2013, the share stood at 63.8 percent.

Serbia's public debt hit a record low in 2008 when it totaled EUR 8.78 billion, or 29.2 percent of the GDP, while, for an example, it amounted to EUR 14.17 billion or 169.3 percent of the GDP at the end of 2000.

The budget system law allows for the public budget to amount to up to 45 percent of the GDP.

When it comes to the foreign debt, it totaled EUR 12.26 billion on June 30 this year, while the domestic debt was at around EUR 8.4 billion.

The state's direct liabilities totaled EUR 17.99 billion, and indirect ones EUR 2.67 billion at the end of June.