Tripovic: We will reduce public debt to around 47 pct of GDP

Serbia's debt-to-GDP ratio has dropped by almost 20 pct in four years, and the Public Debt Administration wants it reduced to around 47 pct by the end of 2022, says Ana Tripovic, acting head of the Public Debt Administration.

20 Novembar 2019 18:19

BELGRADE - Serbia's debt-to-GDP ratio has dropped by almost 20 pct in four years, and the Public Debt Administration wants it reduced to around 47 pct by the end of 2022, says Ana Tripovic, acting head of the Public Debt Administration.

"We have managed to reduce the public debt, which amounts to around 23.8 bln euros, to the level of 51.9 pct of GDP and the goal of the Public Debt Administration is for it to be reduced to 47.2 pct by the end of 2022," Tripovic told Magazin Biznis in an interview.

The reduced share of public debt is a result of high growth rates, low and stable inflation, balanced public finances and overall fiscal consolidation measures conducted by the Serbian government, she said.

Recalling that public debt had been at 70 pct of GDP at the end of 2015, she said it had been lowered significantly in 2016 and 2017 through fiscal and structural measures, declining at a quicker-than-projected pace in 2018 to 53.6 pct at the end of last December.


Photo: Pixabay image


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