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Serbia's debt-to-GDP ratio at 48.2% - PM

Author Radomir Ralev
Serbia's debt-to-GDP ratio at 48.2% - PM Ana Brnabic; Source: Serbian Government

BELGRADE (Serbia), January 29 (SeeNews) - Serbia's central government debt is currently equivalent to about 48.2% of the gross domestic product (GDP), prime minister Ana Brnabic said.

The country has managed to reduce the debt-to-GDP ratio below 50% which is a great success and a result of the implementation of fiscal consolidation measures, Brnabic said on Tuesday, as quoted in a government statement.

At the end of November, Serbia's central government debt totalled 24.12 billion euro ($26.5 billion), the finance ministry said earlier this month.

The debt was equivalent to 52.4% of the projected GDP for 2019, down from 53.8% at the end of 2018, when the central government debt amounted to 23 billion euro, data posted on the finance ministry's website showed.

($ = 0.9088 euro)