Mali: Serbia's finances stable, over 6.5 bln euros in state coffers

BELGRADE - Serbian Finance Minister Sinisa Mali said on Tuesday Serbia's budget and finances were stable and that there was over 6.5 bln euros in the state coffers at this time, which he noted was more than sufficient for the country to function normally.

Responding to criticism from MPs during a parliament session, Mali said the government would continue to invest in projects improving the quality of life of Serbian citizens and in roads, schools and facilities for EXPO 2027.

"You say we are taking up debt, but it is important for the citizens to know that the Serbian debt-to-GDP ratio is below 50 pct," Mali told the critics.

He noted that, since 2018, when it completed a fiscal consolidation, Serbia had been one of the five fastest-growing economies in Europe and that the national employment rate was at an all-time high while the jobless rate was at a record-low 9.4 pct compared to 25 pct about ten years ago.

Serbia is also attracting the largest share of FDI in the region, Mali said, noting that FDI in Serbia had amounted to 4.6 bln euros last year, or 60 pct of investments received by the entire Western Balkans.