The public debt increase was mainly brought about by the rise of the rate of the U.S. dollar against the euro, Serbia’s Finance Ministry released in response to the publication of the data that show the public debt increased by around EUR 1 billion since January to March 10, 2015.
The Public Debt Administration released that Serbia’s public debt totals EUR 24.2 billion, which is by around EUR 1 billion more than at the end of January 2015.
In the release, the Ministry stated that the public debt should decrease by the end of March due to the payback of debt worth over RSD 15 billion based on securities issued on the local market with the maturity date of up to two years, whereby the cost for funding this expenditure is covered by the issue of three-year dinar-denominated bonds in late February.
Having in mind Serbia’s high solvency, the operations with the public debt on the local market are aimed at ensuring funds for funding the matured securities and reduction of the dinar-based debt with the maturity date of up to two years, whereby the public debt will not increase in the course of the year.
Source; in News
