Balkans: excessive debt in region, Serbia in worst position

According to data on public debt of the states in the region, Serbia is in the first place in the region, with the public debit of 51.1 percent of gross domestic product (GDP), skockajbudzet.com website reports. Next is Montenegro with 48.1 percent of GDP, Slovenia - 47.4 percent, Croatia - 43.9 percent, Bosnia and Herzegovina - 34 percent, and Macedonia - 32.7 percent. If one looks at the absolute amounts of public debt, the first among countries of former Yugoslavia is Croatia, with 27.03 billion EUR, followed by Slovenia, with 16.8 billion EUR public debt. Serbia follows with 14.6 billion EUR, Bosnia and Herzegovina with 5 billion EUR, Macedonia with 2.2 billion EUR, and Montenegro with around 1.64 billion EUR. The analyst Miroslav Zdravkovic said that the public debt of Serbia increased mainly due to the increase of the value of EUR against the dinar, and warned that the economies of all countries in the region will stagnate due to debt repayment. Serbia's public debt at the end of the first trimester of 2012 amounted to 14.6 billion EUR, increasing by 151 million EUR compared to the end of 2011, announced the National Bank of Serbia. According to the analysis of Serbia's debt, the percentage of public debt in GDP increased during the first trimester by 3.4 percentage points to 51.1 percent. Total external debt of Serbia at the end of March 2012 amounted to 24.1 billion EUR, and, compared to the end of 2011, decreased by 57.6 million EUR or 0.2 percent. (ANSAmed)