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PUBLIC DEBT January 2017

Changes in public debtin January, in EUR mln

Public debt stockend of January, in EUR bn

Main sources of change in public debt**in January, in EUR mln

Total

non-guaranteed debt

Indirect liabilities

Direct liabilities -258.2

-59.6

-2.2

**Parliamentary Budget O�ce calculation

*Note: Total non-guaranteed debt (EUR 371.8 mln) consists of non-guaranteed local government debt (EUR 365.4 mln) and non-guaranteed debt of the Development Fund of the Republic of Serbia and PE Roads Serbia (EUR 6.5 mln).Data sources: Public Debt Administration: Monthly Report PDA – January, 2017; Debt Statistic – January, 2017; Monthly Report PDA – December, 2016 - Preliminary data; Quarterly Report- September 2016;Macroeconomic and Fiscal Data, March 10, 2017, Ministry of FinanceNational Bank of Serbia website, daily exchange rates

Public debt of the Republic of Serbia

-317.8 EUR mln

Generalgovernment debt

-320.0 EUR mln

-99.6

-55

E�ect of exchange rate changes (compared to December, public debt denominated in euros decreased due to changes in exchange rate – primarily due to a 1.6% depreciation of the U.S. dollar against euro)

Payment of activated guarantees

Net repayment in the domestic �nancial market (in January, amount of matured government securities exceeded amount of issued government securities)

Parliamentary Budget O�ceInfographic JD 02/17e, March 2017

pbk@parlament.rswww.pbk.rs

0

5

10

15

20

25

30

2013 2014 2015 2016Jan

2017

20.723.2

25.3 25.2 24.9

Gen

eral

gov

ernm

ent,

in E

UR

bn

24.5 EUR bn

69.1% of GDP

Public debt of the Republic of Serbia

24.9 EUR bn

70.1% of GDPGeneral

government debt

+ +2.1 0.422.4

Direct liabilities Indirect liabilities Total non-guaranteed debt*

about -150