Serbia's Public Debt Reaches 41.82 Billion Euros in July
The Finance Ministry reported that Serbia's public debt stood at 41.82 billion euros at the end of July, 43.9 percent of gross domestic product, down from 44.4 percent at the end of 2025.
Serbia’s public debt stood at 41.82 billion euros as of July 31, 2026, the Finance Ministry said in its regular monthly overview of public finances and state borrowing. The debt’s share of gross domestic product (GDP) came to 43.9 percent.
Set against the end of last year, the two figures move in opposite directions. On December 31, 2025, public debt totaled 39.34 billion euros, or 44.4 percent of GDP. Over the first seven months of 2026, the debt grew in nominal terms by roughly 2.5 billion euros, even as its share of GDP fell by 0.5 percentage points over the same stretch.
Why Does the Debt Share Fall While the Debt Itself Rises?
A growing debt load and a shrinking share of GDP are not a contradiction. The ratio falls whenever the economy, measured in nominal terms, expands faster than the debt does. In this case, the roughly 2.5 billion euro increase in debt over the first seven months of 2026 was outpaced by the growth in nominal GDP over the same period, which left the ratio slightly better than it was at the close of 2025.
The Finance Ministry publishes public debt data every month as part of its regular review of public finances and state borrowing. The same methodology produced the 44.4 percent figure reported for the end of 2025, which makes the two numbers, July 2026 and December 2025, directly comparable.
The Tanjug news agency carried the Finance Ministry’s figures on September 4 at 5:36 p.m. Going by the ministry’s usual schedule, the next monthly snapshot, covering August, should follow in the first days of October.
