Wednesday 23.01.2013 | 17:39

Serbia's debt was 61.5 percent of GDP at end of 2012

Source: Tanjug

Serbia's public debt at the end of 2012 was EUR 17.67 billion, or 61.5 percent of GDP, according to preliminary data, the Public Debt Administration has stated.

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  1. Didn't SJ tell us, a few days ago, that Serbia's Debt was only 40.5% of GDP ????
    (Stefan, 24 January 2013 10:10)

    The sellouts in Belgrade are not telling the truth. I'd go with the number provided by the CE of the B92 forums, sj. He/she has never been wrong.

    P.S. CE = Chief Economist
    (icj1, 26 January 2013 18:15)

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  2. Didn't SJ tell us, a few days ago, that Serbia's Debt was only 40.5% of GDP ????

    What happened ?
    (Stefan, 24 January 2013 10:10)

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  3. Diplomaticus,

    A number of us have been speaking out against the government on this issue, and many others, since Day One. Unfortunately, too many Serbian citizens have either bought into the daily nonsense spewed by the likes of Nikolic and Vucic, or they've just given up and no longer care who is in power and what is done. This will all change when things get desperate enough -- probably over the next couple of years.
    (Nenad, 24 January 2013 01:39)

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  4. I'm paying attention. Since 2009 I have been advocating a structured default, if they had done it back then, they would not have to face doing it now.
    (diplomaticus, 24 January 2013 00:56)

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  5. Zero comments in here? No one cares I see. The Balkans is truly a land of monuments and history. No one cares for the present. Here is something to think about that this article does not say: The debt is unstoppable. We are dealing with a Greek like scenario, only that Serbia is not in EU, so it is able to deflate its currency. Thats why the interest rates and inflation are so high.

    What does this mean? People are getting poorer. All the foreign debt payed by Serb taxpayers is in RSD. Since this currency is depreciating, the debt that is mostly in foreign currencies will go higher. Its a vicious circle. Debt levels higher than 60% of GDP are unsustainable. And since Serbia has entered recession again (therefor the GDP is dropping) the debt will again grow and no one will lend anymore money.

    If anyone is thinking of Russia, this is what they told Cyprus today:
    [link]/

    According to B92, IMF's resident representative in Serbia Bogdan Lissovolik stated that "Serbia's key problems are not of a short-term nature, rather they are fundamental and structural, which means that structural reforms are needed in four areas - the labor market, pension system, public companies and the business environment."

    Is the government dealing with this? No, it picks fights with neighbors instead, on issues that no one on earth new existed until they make it an issue. The last elections were about the economy not the Presevo Valley.
    (Diplomaticus, 23 January 2013 23:10)

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