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Serbia’s public debt exceeded 27 billion euros in mid-October 2020, including an unsecured local public debt of about 400 million euros, said Goran Radosavljevic, a professor at the Faculty of Economics, Finance and Administration (FEFA) at Belgrade.
“Public debt includes all those obligations according to the funds that were withdrawn by the Serbian state, and what was signed, but will not be withdrawn, will become public debt only when the funds are activated,” said Radosavljevic.
The leader of the Freedom and Justice Party (SAA), Dragan Djilas, affirmed that Serbia withdrew 27,000 million euros and that it owes or will owe in the next years 50,400 million euros when the funds are withdrawn. “
Radosavljevic said that “it is assumed that some obligations will be paid in the meantime, and certainly the public debt in the future will not be equal to the simple sum of the current and future loans agreed.”
“Therefore, the claim that Serbia will owe 50 billion euros in the next few years because it has agreed to such a high level of new loans at this time can hardly be confirmed,” Radosavljevic said.
He added that, judging by the fact that the government is not very efficient in making public investments, the big question is the dynamics of loan withdrawal and that it can happen as before that many terms are extended and funds are not withdrawn.
Steadily increasing debt
According to him, the calculation, according to which Serbia will soon owe 50 billion euros, is similar to the calculation according to which the Serbian Progressive Party (SNS) stated that the debt of the city of Belgrade in 2013 was more than one billion euros. , although the official Finance Ministry confirmed. that the debt was around 450 million euros.
“In these billions of euros, the SNS calculated all the future interest rates and the obligations related to the repayment of the loans, which did not mature, which is certainly not in line with the official methodology, nor is it comparable to the real state of public debt, “said Radosavljevic.
He pointed out that “despite the very dirty and dishonest campaign that the SNS has led for nine years and which is full of lies about everything and even something easily verifiable, the opposition must fight for the truth.”
According to him, it is true at this time that Serbia had a public debt of 15,450 million euros in July 2012, when the SNS took power, and that today it amounts to more than 27,000 million. During the previous nine years, as you said, Serbia is in debt for about 12 billion euros or about 2,000 euros of additional debt for each adult citizen.
“I think that’s alarming enough already, so there is no need to add to this story some future debts that can, but don’t have to be realized,” Radosavljević said.
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