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The Government of the Republic of Serbia

In the service of citizens

Government adopts Bill on conversion of housing loan debts in Swiss francs

Belgrade, 16 April 2019

The Serbian government adopted at today's session the Bill on conversion of housing loans indexed in Swiss francs, which envisages converting the remaining part of the debt of the loan into euros, and reducing the amount obtained through that conversion by 38%.

With this bill, approximately 16,800 citizens who have housing loans in Swiss francs will be able to solve this financial problem, regardless of the amount of debt.

It is envisaged that the interest rate cannot be higher than 3.4 percent plus a three-month or six-month EURIBOR, and that the fixed interest rate cannot be higher than four percent.

Within 30 days from the date of entry into force of this Law, the bank is obliged to submit to the loan user a bid for the conclusion of the contract. If the user accepts that the conversion of the housing loan be carried out in accordance with this law, the user is obliged to notify the bank of his decision within 30 days from the date of receipt of the documents and conclude the contract on conversion with the bank.

Government members also adopted the Bill amending the Law on the budget system, which equates the salaries of employees in pre-school institutions with the salaries of employees in primary education institutions.

After the adoption of the proposed law under emergency procedure, the employees in pre-school institutions will have a salary increase of nine percent as of May, compared to the salary from December 2018 (instead of the current seven percent).