KRSTIC: Serbia is not in danger of bankruptcy

Minister of Finances, Lazar Krstic, announced that Serbia was not in danger of bankruptcy and the Government intends to have the public debt decreasing by the end of 2016.
-We have taken all the measures together with budget in order to prevent the threat of this kind, stated Krstic for RTS.
He said that it was important to bring discipline in the coming three years regarding debts and to use the money from creditors for the things that would increase GDP.
- At the end of 2016, our intention is to have a decrease in public debt, said Krstic.
He added that the largest part of public debt was used for refinancing of the existing debt, and the remaining part was used for 'financing the deficit', which is actually covering of the whole in the budget between the amount earned by the state and its expenses.
Minister added that the largest part was spent on salaries and pensions.
-It is necessary to react fast and work hard because many opportunities have been missed so far, said Krstic.

Ministarstvo finansija Republike Srbije

Lazar Krstic

Ministry of Finances

GDP

bankruptcy

getting into debt