foreign borrowing

Serbia’s 2024 infrastructure projects primarily funded by domestic borrowing

In 2024, the Serbian Ministry of Finance recorded total receipts from domestic and foreign borrowings amounting to 62.53 billion dinars, according to the State Audit Institution’s (DRI) report on the Ministry’s final accounts. The vast majority—62.5 billion dinars—came from domestic borrowing, while foreign borrowing accounted for a much smaller sum of 23.4 million dinars. Key domestic borrowing projects included the financing of the Belgrade EXPO 2027 project through the issuance of domestic securities totaling 42.39 billion dinars, sourced from long-term…