Serbia: Rise in Poverty Expected

BusinessEconomy ♦ Published: August 25, 2012; 17:03 ♦ (Vindobona)

The economic crisis in Serbia sharpens. Millions of households are not able to repay their debts.

Serbia: Rise in Poverty Expected / Picture: © Flickr

For 1.7 million Serbians, the average monthly salary is below € 360. About 80% of this amount is spent on basic consumption goods. As a result, private indebtedness is on the rise. In the last months, Serbian businesses bang to engage debt collectors in order to collect outstanding demands. About 2 million Serbians are affected.

One of the most pressing issues is the high…