Repayment of Debt to Azerbaijan for Cacak-Ljig Road Supposed to Lower Public Debt Rate

Serbian President Aleksandar Vucic said that the state was looking to pay out the entire loan taken from Azerbaijan for the Cacak-Ljig road before the end of the year.

– It is a big debt, EUR 300 million in total. We paid slightly over a half, now we want to repay it all, because the interest rate of 4% is big too – Vucic said for RTS.

With this amount of 170 million, Serbia would lower the public debt rate by 0.42% to 57.4% of the budget, Vucic added.

He said that it would not burden the state budget by much, because, he says, the deficit of around 8-9% is much lower than in developed countries.

Vlada Republike Srbije

Government of Serbia

Čačak Ljig road

Aleksandar Vučić

credit

loan

loan repayment

credit repayment

public debt of Serbia