Today’s borrowing has nothing to do with the upcoming additional improvement of standard, which foresees the announced increase in wages, said Finance Minister Novica Vukovic on the occasion of the issuance of treasury bills.
As the minister said, the Ministry of Finance has issued T-bills worth $750m, with a maturity of 7 years.
According to him, the loan was necessary mainly for the repayment of old debts from the previous period, which, he says, are due this year and next year.
“Also, there are no secret actions – the issuance of today’s T-bills was carried out in accordance with the Budget Law and the Decision on Borrowing for 2024. It was determined that the state can borrow a total of €1.150bn this year to provide the missing funds, refinance the old debt, finance the capital budget and create a fiscal reserve for the next year”, Vukovic has stressed.
The minister notes that, according to the MInistry’s projections, a total of €656.7m is planned for debt repayment in 2024, of which €518.63m is intended for principal repayment, and €138.07m for interest rates repayment.
