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The Government of the Republic of Serbia

In the service of citizens

Decision on continuing subsidies for housing loans on March 1

Belgrade, 28 February 2007

Serbian Minister of International Economic Relations and Coordinator in the Serbian Ministry of Finance Milan Parivodic said today that the Serbian government will bring a decision on continuing subsidies for housing loans at its regular session to be held on March 1.

Milan Parivodic at today's press conference

Parivodic told a press conference that this will remove the technical error which appeared due to the fact that the secretariat of the Ministry of Finance and the National Corporation for Housing Loan Insurance could not keep up with the tempo or expenditure dynamics of the funds intended for subsidising housing loans.

He said that a sum of RSD 250 million was allocated for the first quarter of this year, but due to the great interest shown by citizens, almost the entire amount was spent during the first month and a half.

Parivodic said that after the Serbian government adopts the decision on continuing subsidies, applications for housing loans will be continued to be accepted from March 5.

Speaking on yesterday’s meeting with bankers, Parivodic said that one more novelty has been introduced, which is the decision to provide subsidies also for loans indexed in Swiss Francs.

He explained by giving an example that if a citizen obtains a loan worth €100,000 over 30 years the amount payable will be the principal and an additional amount of €94,000, while for the same loan indexed in Swiss Francs the additional amount payable will be €66,858, which is €28,000 less.