Debt burden of the Kingdom of Yugoslavia at times of great depression

Debt burden of the Kingdom of Yugoslavia at times of great depression

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It is customary to look for the causes of widespread problems of public debt service at times of the Great Depression on the side of a sharp drop of foreign exchange earnings of the debtor country, in conditions of severe contraction of international trade and the introduction of a series of foreign trade restrictions.In the case of the Kingdom of Yugoslavia, in addition to these craggy range sauvignon blanc 2022 causes, which were generated by the Great Depression, there were some specific reasons on the side of public expenditures that were click here not related to the crisis, which led the country to sovereign debt default in 1932.Analysing these reasons is the subject matter of this paper.The aim of this paper is to indicate, on the basis of relevant macroeconomic indicators and economic-historical facts, how much the Kingdom of Yugoslavia was indebted and why it was not possible to avoid the accumulation of public debt in the years of Great Depression.