Fiscal Council: Serbia Will Have to Borrow EUR 3 to 4 Billion

The president of the Fiscal Council, Pavle Petrovic, estimated that, in 2023, Serbia would have to borrow an additional EUR 3 to 4 billion.

– Serbia will have to incur considerable additional debt next year. A debt of four billion is soon to be due, and they will borrow in order to be able to repay. Two to three billion will be related to deficits. On the other hand, Serbia already has some reserves, it has already borrowed from the Emirates. It will certainly have to borrow some EUR 3 to 4 billion, and the interest rates are now at least 7-8% – Petrovic said.

At the session of the Committee for Finance, State Budget and Control of Public Fund Spending of the National Assembly of Serbia, presenting the Report on the Operations of the Fiscal Council for 2021, he estimated that it was an unproductive spending of funds and the reason why, in the long term, the public debt needed to be kept under control, N1 reports.

Fiskalni savet Republike Srbije

Narodna skupština Republike Srbije

Fiscal Council

National Assembly of Serbia

Pavle Petrovic

debt repayment

debt

state budget

spending public funds

control of public funds

Fiscal Council report

public debt