Minister proposes early foreign debt repayment

Serbian Finance and Economy Minister Mlađan Dinkić will propose the government to do an early repayment of Serbia's external debt worth USD 430mn.

Izvor: B92

Saturday, 09.03.2013.

12:21

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BELGRADE Serbian Finance and Economy Minister Mladjan Dinkic will propose the government to do an early repayment of Serbia's external debt worth USD 430mn. “If the government accepts Minister Dinkic’s proposal, the state's repayment will be done by the end of April,“ the Finance and Economy Ministry has released. Minister proposes early foreign debt repayment According to the ministry, the early repayment of expensive loans is possible thanks to significant solvency the Serbian budget has secured in the last several months. “Bearing in mind that fiscal policy measures have given extremely good results in dropping interest rates on the public debt, both on the international and domestic financial market, the Finance and Economy Ministry believes that conditions for early repayment of expensive loans from the past have now been met. The repayment will bring savings in current budget expenses in this and next year since smaller amounts will be appropriated for payment of interest rates,” the ministry added in the release. According to the Finance Ministry, the latest data show that a surplus of RSD 3.8bn was achieved in January. The budget’s consolidates revenues in January amounted to RSD 116bn while total expenditures were RSD 112.2bn. Mladjan Dinkic (Tanjug, file) B92 Tanjug

Minister proposes early foreign debt repayment

According to the ministry, the early repayment of expensive loans is possible thanks to significant solvency the Serbian budget has secured in the last several months.

“Bearing in mind that fiscal policy measures have given extremely good results in dropping interest rates on the public debt, both on the international and domestic financial market, the Finance and Economy Ministry believes that conditions for early repayment of expensive loans from the past have now been met. The repayment will bring savings in current budget expenses in this and next year since smaller amounts will be appropriated for payment of interest rates,” the ministry added in the release.

According to the Finance Ministry, the latest data show that a surplus of RSD 3.8bn was achieved in January. The budget’s consolidates revenues in January amounted to RSD 116bn while total expenditures were RSD 112.2bn.

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