Serbia is repaying debts in a timely manner

Serbian Assistant Minister of Finance and Director of the Treasury Vesna Dzinic said today that Serbia has been repaying its external and domestic debts in a timely manner for four years in a row.

Serbia has never defaulted on its debt payments and “no guarantee has ever been activated,” according to Dzinic.

In an interview with the Tanjug news agency, Dzinic said that reliable debt repayment helps to improve a country’s credit rating, and Serbia’s current rating is sending positive signals to potential foreign investors.

Dzinic said that the years 2007 and 2009, which, according to some economists, will see a “debt crisis,” will indeed be crucial for debt servicing, but she added that Serbia’s economy is expected to “stand on its feet” by that time.

The privatisation of large public-sector enterprises is also expected to begin by then, bringing in significant receipts, according to her.