Serbia: Further Austerity Measures Probable

Politics ♦ Published: November 27, 2013; 19:39 ♦ (Vindobona)

In October, Serbia´s government has resolved a drastic austerity package.

Serbia: Further Austerity Measures Probable / Picture: ©

Since 2008, Serbia´s fiscal situation has deteriorated drastically. The public debt quota has reached 65% of the GDP this year. Only four years ago, the public debt quota stood at 40% of the GDP. Moreover, Serbia is expected to record a budget deficit of more than 8.0% of GDP this year.

As a result, Serbia´s access to the financial markets is rather limited. Serbian sovereign…

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