A bog thanks to the state as each of us now owes TWICE MORE

Serbia’s public debt has more than doubled in nominal terms in the last ten years.

According to the latest data from the Ministry of Finance, Serbia’s public debt amounted to EUR 26.579 billion at the end of July, which accounted for 56.7 percent of the country’s gross domestic product (GDP).

A decade ago, public debt was EUR 12.1 billion, i.e. 32.8 percent of GDP respectively.

Although the nominal amount of public debt is not an adequate indicator of indebtedness increase, because GDP is growing in the meantime, in the case of Serbia a major increase in public debt is evident when this parameter is taken into account.

Thus, in 2010, public debt accounted for a third of GDP and now it is more than half.

At the end of December last year, the public debt was EUR 23.944 billion, which accounted for 52 percent of GDP.

In 2007, public debt amounted to EUR 8.8 billion (35.9% of GDP), in 2012 it was EUR 17.6 billion and in 2015 as much as EUR 24.8 billion (75.5% of GDP).

Izvor: BIZlife

Foto: Pixabay