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June 11, 2003 - Wednesday |
Serbian minister says Serbia has high debt
18:46 BELGRADE , June 11 (Tanjug) - Serbian Minister of Finance and Economy Bozidar Djelic said on Wednesday that Serbia would not enter a debtor crisis between 2007 and 2010, when the value of debt repayments is expected to account for more than 4.5 percent of the GNP, only if it increased the competitiveness of its economy and especially its exports, whose growth rate must be between 10 and 20 percent.
Djelic told a news conference that in the coming years Serbia had to be careful in managing its foreign debt and new commercial debts, since its present hard currency debt, including the old hard currency savings debt to citizens, amounted to 12.6 billion dollars and that it accounted for 81.8 percent of the GNP.
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