Q:
A:
No recession in 2009
Belgrade/Vienna,
20 January 2009
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said today in Vienna that there will be no recession in Serbia this year.
Mladjan Dinkic
At the opening of the Euromoney Central and Eastern European Economic Forum, Dinkic pointed out that Serbia has not had serious problems concerning its banking sector so far, but its economic growth will soon slow down.
According to him, Serbia’s foreign trade deficit in 2009 is to be reduced since imports will be lower while exports will remain at last year’s level.
The Minister noted that Serbia should primarily improve the liquidity of its economy, as there will be fewer foreign loans this year, which must be compensated for from the budget.
Dinkic said that Serbia’s national debt will increase because it has low gearing and public debt comprises only 25% of GDP, adding that the largest portion of funds was intended for the construction of Corridor 10.
The Minister affirmed that many investors are interested in a tender for the construction of two thermoelectric power plants, Kolubara and Nikola Tesla, which was published in the Financial Times.
Dinkic explained that the overall investment, worth €650 million, will help improve Serbia’s position concerning the production and export of electric energy.
Minister Dinkic, Governor of the National Bank of Serbia Radovan Jelasic and State Secretary for Economy and Privatisation Nebojsa Ciric had a chance to present investment possibilities in Serbia at a round table discussion.
According to him, Serbia’s foreign trade deficit in 2009 is to be reduced since imports will be lower while exports will remain at last year’s level.
The Minister noted that Serbia should primarily improve the liquidity of its economy, as there will be fewer foreign loans this year, which must be compensated for from the budget.
Dinkic said that Serbia’s national debt will increase because it has low gearing and public debt comprises only 25% of GDP, adding that the largest portion of funds was intended for the construction of Corridor 10.
The Minister affirmed that many investors are interested in a tender for the construction of two thermoelectric power plants, Kolubara and Nikola Tesla, which was published in the Financial Times.
Dinkic explained that the overall investment, worth €650 million, will help improve Serbia’s position concerning the production and export of electric energy.
Minister Dinkic, Governor of the National Bank of Serbia Radovan Jelasic and State Secretary for Economy and Privatisation Nebojsa Ciric had a chance to present investment possibilities in Serbia at a round table discussion.
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