Q:
A:
New housing loan programme in near future
Belgrade,
30 March 2005
Serbian Minister of Finance Mladjan Dinkic said today that the ministry will propose to the government a new programme for housing loans of up to €100,000 for married couples under 45 years of age.
Mladjan Dinkic (left) and Aleksandar Jovic
Dinkic told a press conference that the programme would facilitate housing construction and help reduce interest rates in Serbia.
According to him, interest rates at banks that have contracts with the National Housing Loan Insurance Corporation, should go down from the current 8.95 percent to around 7.5 percent.
Dinkic said that the disbursement of these loans must be preceded by a budget revision and he expressed hope that between 3,000 and 4,000 applications will be handled in the second half of the year.
He explained that loans would be approved with a 20-year repayment period and one percent interest, while a 20 percent down payment would be provided from the state budget.
Director of the National Housing Loan Insurance Corporation Aleksandar Jovic said that the corporation has insured a total €4.2 million, or just below 150 home loans, adding that the largest number of loans are under €50,000.
Jovic said that interest rates have been reduced and are now between 7.45 and 8.95 percent. He confirmed that negotiations are underway with Alfa Bank and the EFG Bank, which are also interested in approving housing loans. An agreement with these banks is expected to be signed at the beginning of August, he said.
Dinkic announced today that as of April 1, business owners who do not give out fiscal receipts would have to pay higher fines, 150,000 dinars for smaller businesses and 300,000 for larger ones.
According to him, another increase in fines will occur in June and include a 30-day shutdown for the business. The aim of such measures is to completely accustom taxpayers to fulfilling this obligation by the end of the year.
He announced that the ministry will introduce GPRS terminal devices for distance readouts of daily fiscal register reports by the end of May and that retailers will be required to install them in their shops.
The Minister of Finance explained that owners of smaller businesses should install this device by June 30 and added that the state would subsidise their purchase. GPRS devices will also be required in gaming machines as well as in trucks transporting goods across the border.
According to him, interest rates at banks that have contracts with the National Housing Loan Insurance Corporation, should go down from the current 8.95 percent to around 7.5 percent.
Dinkic said that the disbursement of these loans must be preceded by a budget revision and he expressed hope that between 3,000 and 4,000 applications will be handled in the second half of the year.
He explained that loans would be approved with a 20-year repayment period and one percent interest, while a 20 percent down payment would be provided from the state budget.
Director of the National Housing Loan Insurance Corporation Aleksandar Jovic said that the corporation has insured a total €4.2 million, or just below 150 home loans, adding that the largest number of loans are under €50,000.
Jovic said that interest rates have been reduced and are now between 7.45 and 8.95 percent. He confirmed that negotiations are underway with Alfa Bank and the EFG Bank, which are also interested in approving housing loans. An agreement with these banks is expected to be signed at the beginning of August, he said.
Dinkic announced today that as of April 1, business owners who do not give out fiscal receipts would have to pay higher fines, 150,000 dinars for smaller businesses and 300,000 for larger ones.
According to him, another increase in fines will occur in June and include a 30-day shutdown for the business. The aim of such measures is to completely accustom taxpayers to fulfilling this obligation by the end of the year.
He announced that the ministry will introduce GPRS terminal devices for distance readouts of daily fiscal register reports by the end of May and that retailers will be required to install them in their shops.
The Minister of Finance explained that owners of smaller businesses should install this device by June 30 and added that the state would subsidise their purchase. GPRS devices will also be required in gaming machines as well as in trucks transporting goods across the border.
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