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IMF loan signals Serbia’s EU orientation
Belgrade/Vienna,
21 November 2008
Serbian Deputy Prime Minister for EU Integration Bozidar Djelic said today that the International Monetary Fund’s (IMF) $520 million loan is a sign of Serbia’s EU orientation.
In an interview with Vienna economic daily Wiertschaftsblatt, Djelic stressed that Serbia does not actually need the loan, but it is evidence of its stability.
Our foreign currency reserves are 2.5 times bigger than foreign currency savings deposits. Serbia is not facing economic troubles like the Ukraine or Hungary, it is trying to achieve a 1.5% budget deficit, 3.5% GDP growth and 8% inflation in 2009.
He also expressed hope that inflation will stay below 10% by the end of 2008.
Djelic also spoke about infrastructure projects worth over €2.9 billion that will go ahead as planned.
Serbia has a very good investment climate, it offers many tax incentives and is politically stable, Djelic said, underlining that Serbia’s next step is EU membership.
Economically Serbia is practically already an EU member, he said, noting that 80% of its banking, 75% of its investments and 55% of its trade are EU related.
Our foreign currency reserves are 2.5 times bigger than foreign currency savings deposits. Serbia is not facing economic troubles like the Ukraine or Hungary, it is trying to achieve a 1.5% budget deficit, 3.5% GDP growth and 8% inflation in 2009.
He also expressed hope that inflation will stay below 10% by the end of 2008.
Djelic also spoke about infrastructure projects worth over €2.9 billion that will go ahead as planned.
Serbia has a very good investment climate, it offers many tax incentives and is politically stable, Djelic said, underlining that Serbia’s next step is EU membership.
Economically Serbia is practically already an EU member, he said, noting that 80% of its banking, 75% of its investments and 55% of its trade are EU related.
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