Vucic: Serbia to reduce public debt in keeping with IMF plan

Serbian Prime Minister Aleksandar Vucic said on Saturday that the June reduction of Serbia's public debt by RSD 320 million comes as a consequence of the strengthening of the euro against the dollar, and added that Serbia is slowly but steadily approaching debt reduction as envisaged in the plans with the IMF

As envisaged in the plans with the IMF, Serbia's public debt will continue increasing until the end of 2017 when it will begin dropping, Vucic said.

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According to him, Serbia's debt will increase annually until it reaches the level of around 78-79 percent of the GDP, and then the tendency will change and the debt will begin dropping before the end of 2017.

Vucic: Serbia offers best investment conditions

Serbia's public debt is currently slightly above 71 percent of the GDP, Vucic said.

The latest public debt reduction is a consequence of the oscillation of the exchange rate of the euro and the dollar, he explained.

The euro has slightly recovered and it seems that Serbia's debt has dropped due to the adjustment of the exchange rate of the dollar and the euro, while in fact the debt remains the same, Vucic told reporters in Velika Plana.

Vucic: Deficit nearly four times smaller than planned

The prime minister said that the government does not have any problems with fiscal deficit and manner of debt increase.

This is under absolute control, and the area we should focus on now is attracting investors and increasing employment, Vucic said.

(Telegraf.co.uk/ Tanjug)