Public debt at EUR 20.4 billion - 62.9 pct of GDP

Public debt at EUR 20.4 billion - 62.9 pct of GDP

BELGRADE -- Serbia's public debt went up by EUR 178 million in February reaching EUR 20.4 billion or 62.9 percent of the country's GDP.

This data was released by the Ministry of Finance its website.

At the end of 2013, the public debt totaled EUR 20.089 billion or 61.2 percent of the GDP.

According to the Budget System Law, Serbia's public debt is limited to 45 percent of the GDP, Tanjug reported.

At the end of February, Serbia's direct and indirect liabilities amounted to EUR 17.6 billion and EUR 2.794 billion respectively.

According to official data, Serbia's public debt was at EUR 14.2 billion at the end of 2000, which at the time amounted to 169.3 percent of GDP, and was on a downward trend until 2008, when it stood at EUR 8.78 billion (29.2 percent of GDP).