Mali: Serbia's debt-to-GDP ratio at 50.5 pct

BELGRADE - Serbian Finance Minister Sinisa Mali said on Thursday Serbia's debt-to-GDP ratio was at 50.5 pct, much below the maximum 60 pct under the Maastricht criteria or the current euro zone average of 91 pct.

"Serbia, a small country, is absolutely looking after its public debt. It is repaying all its obligations to the last dinar on due days and it has no problems whatsoever with public debt," Mali said on Prva TV, noting that, for example, France, Spain and Italy had debt-to-GDP ratios ranging from around 115 pct to as much as 160 pct.

He said Serbia would continue all its planned investments in the same way as it had in the past, by relying on own funds or loans.

He said the public debt of Europe's strongest economy, Germany, amounted to as much as 2.5 thousand bln euros, but added that the amounts of public debts could not be compared in absolute terms.

"Germany's debt should be compared to the size of their economy, the size of the country, its surface, population and all other things. Serbia has a public debt of 35 bln euros and, relative to our GDP, which will exceed 68 bln euros this year for the first time, the share of our public debt is 50.5 pct at this time," he said.