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Serbia’s debt-to-GDP ratio has dropped by almost 20% in four years, but the Public Debt Administration wants it reduced further to around 47% by the end of 2022, said Ana Tripović, acting head of the Public Debt Administration, quoted by state news agency Tanjug.

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“We have managed to reduce the public debt, which amounts to around EUR 23.8 billion, to the level of 51.9% of GDP and the goal of the Public Debt Administration is for it to be reduced to 47.2% by the end of 2022,” Tripović told Magazin Biznis in an interview.

Recalling that public debt had been at 70% of GDP at the end of 2015, she said it had been lowered significantly in 2016 and 2017 through fiscal and structural measures, declining at a quicker-than-projected pace in 2018 to 53.6% at the end of last December, Tanjug said.