Foreign debt EUR 22.93bn in February

Serbia's foreign debt totaled EUR 22.93bn at the end of February, which is 0.3 percent less than the previous month, and 3.6 percent less than in December 2010.

Izvor: Tanjug

Monday, 09.05.2011.

15:43

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Serbia's foreign debt totaled EUR 22.93bn at the end of February, which is 0.3 percent less than the previous month, and 3.6 percent less than in December 2010. This is according to the latest bulletin of the Market Research Institute (IZIT). Foreign debt EUR 22.93bn in February The reduction in foreign debt is mainly the result of a drop in private foreign debt. The foreign debt of the private sector totaled EUR 13.91bn in February, which is 0.4 percent less than the month before and 5.5 percent less than in the last month of 2010. The downward trend in private sector borrowing is a consequence of the over-indebtedness of Serbian businesses, which are often unable to meet their existing financial obligations, much less enter into new credit arrangements, noted the IZIT experts. At the same time, the reduction in the foreign debt of the public sector was almost symbolic. It reached EUR 9.02bn - only 0.1 percent less than in January 2011 and 0.6 percent less than in December 2010.

Foreign debt EUR 22.93bn in February

The reduction in foreign debt is mainly the result of a drop in private foreign debt.

The foreign debt of the private sector totaled EUR 13.91bn in February, which is 0.4 percent less than the month before and 5.5 percent less than in the last month of 2010.

The downward trend in private sector borrowing is a consequence of the over-indebtedness of Serbian businesses, which are often unable to meet their existing financial obligations, much less enter into new credit arrangements, noted the IZIT experts.

At the same time, the reduction in the foreign debt of the public sector was almost symbolic. It reached EUR 9.02bn - only 0.1 percent less than in January 2011 and 0.6 percent less than in December 2010.

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