Mali: Electricity price increases in 2023 to be far below European ones

BELGRADE - Serbian Finance Minister Sinisa Mali announced on Friday two electricity price increases were planned for 2023, but noted that they would be far lower compared to other European countries.

Speaking at a press conference, Mali said the increases had been agreed with the IMF.

"The price increases will fit into the 11.3 pct inflation projected for next year, and the electricity price will be far below what we see in Europe," he said.

Responding to questions from reporters, he dismissed as untrue a Fiscal Council assessment that Serbia is an over-indebted country.

"Serbia is not over-indebted, because the debt-to-GDP ratio is 55.1 pct, which is below the Maastricht level of 60 pct and below the EU average of 95 pct. I agree with the Fiscal Council's figures but I disagree with its conclusions," Mali said.

Mali noted that loans the government was taking were being used for investments rather than for spending and that old loans were being repaid duly.

"By the end of this year, we will have a debt-to-GDP ratio of 55.5 pct, so how are we over-indebted? That is our victory considering all the investments in the energy sector we have had this year," Mali said.