BANJA LUKA (Bosnia and Herzegovina), October 7 (SeeNews) – The total debt of Bosnia’s Serb Republic amounted to 5.06 billion marka ($2.9 billion/2.6 billion euro) in 2014, equivalent to approximately 58% of the entity's gross domestic product (GDP), government officials said on Wednesday.
At the end of 2014, the Serb Republic’s foreign debt amounted to 2.89 billion marka, while domestic debt totalled 2.17 billion marka, it was announced during a weekly cabinet session aired live on state-owned broadcaster RTRS.
A total of 264.98 million marka went towards servicing foreign debt in 2014, while 253.16 million marka was spent covering a portion of domestic debt.
In his presentation, the entity’s finance minister Zoran Tegeltija said that the aim is to have the total debt at 48% of GDP and added that the Serb Republic is not highly indebted.
The Serb Republic’s GDP expanded by a real 0.4% in 2014, totalling 8.82 billion marka at current prices.
The Serb Republic is one of the two autonomous entities that form Bosnia and Herzegovina. The other one is the Muslim-Croat Federation.
(1 euro=1.95583 Bosnian marka)