As of the end of June 2024, Serbia’s public debt stood at approximately 38.18 billion euros, equivalent to 50 percent of the country’s gross domestic product (GDP), according to the Ministry of Finance. This marks an increase from May 2024, when the public debt was 36.35 billion euros, or 47.6 percent of GDP. Over the course of one month, the state borrowed an additional 1.83 billion euros, representing a 2.4 percent rise relative to the estimated GDP.
In comparison, Serbia’s public debt at the end of 2023 was 36.15 billion euros, which was 52 percent of the GDP at that time.
Despite these figures, the ratio of public debt to GDP has generally been on a downward trend since 2020, when it peaked at 57 percent. The highest recorded level of public debt relative to GDP was 70 percent in 2015.
In nominal terms, the public debt has significantly increased from 8.8 billion euros in 2008, when it represented 26.8 percent of GDP.
