Public debt last year amounted to 51% of GDP

BELGRADE The State Audit Institution (DRI) has found that Serbia's public debt on December 31, 2011, amounted to 51 percent of the GDP. The figure was above the 45 percent fiscal rule threshold envisaged by the budget system law. Public debt last year amounted to 51% of GDP According to the findings of the DRI, the debt amounted to EUR 15.473 billion, shown lower by 992.87 million. According to the relevant Public Debt Administration data, on the last day of last year, Serbia's public debt was EUR 14,480.36 million, DRI President Radoslav Sretenovic has said at a meeting of the Serbian parliament's Finance Committee. He added that the DRI had carried out a financial and regularity audit of operations of 46 entities in line with the 2012 audit program. Sretenovic said that the DRI reports had been submitted to the Serbian parliament, adding that the institution would propose three new legal solutions, namely, on subsidies, on taxes on utilities and on salaries of local governments' officials, to mend the irregularities observed. Tanjug

Public debt last year amounted to 51% of GDP

According to the findings of the DRI, the debt amounted to EUR 15.473 billion, shown lower by 992.87 million.

According to the relevant Public Debt Administration data, on the last day of last year, Serbia's public debt was EUR 14,480.36 million, DRI President Radoslav Sretenović has said at a meeting of the Serbian parliament's Finance Committee.

He added that the DRI had carried out a financial and regularity audit of operations of 46 entities in line with the 2012 audit program.

Sretenović said that the DRI reports had been submitted to the Serbian parliament, adding that the institution would propose three new legal solutions, namely, on subsidies, on taxes on utilities and on salaries of local governments' officials, to mend the irregularities observed.