Q:
A:
Development Fund to finance only export and regional development
Belgrade,
29 December 2005
Serbian Minister of Economy Predrag Bubalo said today that the Serbian Development Fund will employ its financial means solely in the private sector and not in socially-owned companies, as a way of stimulating export and insufficiently developed regions.
Predrag Bubalo
In a statement to the Tanjug news agency, Bubalo pointed out that the fund will have special programmes intended for industrial towns such as Vranje, Bor and Kragujevac, as well as for beneficiaries of social programmes who have been made redundant.
Bubalo, who is the new president of the fund's Executive Board, stressed that the fund will no longer be financed from the state budget and will have to rely on its own financing, which is between five and six billion dinars.
According to Bubalo, funds from certain loans can be added to this. The fund will then have around eight billion dinars at its disposal and this money will be invested into Serbia's economy in 2006.
Bubalo, who is the new president of the fund's Executive Board, stressed that the fund will no longer be financed from the state budget and will have to rely on its own financing, which is between five and six billion dinars.
According to Bubalo, funds from certain loans can be added to this. The fund will then have around eight billion dinars at its disposal and this money will be invested into Serbia's economy in 2006.
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