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Dinkic, Dragutinovic talk with largest Serbian exporters
Belgrade,
23 January 2009
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic today stated that the government will approve a set of measures whose goal is to maintain the projected GDP growth of 3.5% in 2009.
Diana Dragutinovic, left, and Mladjan Dinkic
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Following a meeting with leading Serbian exporters about ways to overcome the negative effects of the crisis in 2009, Dinkic told the press that the goal of these measures is to increase the economy’s liquidity and ensure greater foreign currency inflow in order to maintain the dinar’s stability.
He said that the set of measures will amount to €1 billion, including the RSD 40 billion from the budget for short-term loans to the economy, RSD 40 billion from international financial institutions and around RSD 7 billion for assistance to the economy through partnership of the Development Fund and business banks.
The goal of these measures is to halve the current interest on loans, which now stands at 11%, thus freeing additional banking funds in order to finance the economy, explained Dinkic.
The government will not be the one determining which banks will approve loans, but the National Bank of Serbia, said Dinkic, adding that these can only be those banks whose credit portfolio is rising.
He announced that nearly RSD 20 billion will be provided in 2009 for crediting the purchases of durable consumer goods.
We will also introduce loans for construction of flats, to increase the amount and reduce prices, said Dinkic.
He said that Baltic countries such as Ukraine are in a more difficult position than Serbia and are on the verge of economic collapse, while Hungary, Romania and Bulgaria are also facing a serious crisis.
This is thanks to the solid banking system in Serbia, he said, adding that Serbian banks need to activate their potential.
He also noted that only the German government came up with a package of measures, while other European countries are late with concrete measures.
Minister of Finance Diana Dragutinovic said that the set of measures will be harmonised at upcoming meetings with exporters.
The programme will be active in February, but it is difficult to predict all the details, Dragutinovic said, adding that all funds for this programme have been planned for in the budget.
He said that the set of measures will amount to €1 billion, including the RSD 40 billion from the budget for short-term loans to the economy, RSD 40 billion from international financial institutions and around RSD 7 billion for assistance to the economy through partnership of the Development Fund and business banks.
The goal of these measures is to halve the current interest on loans, which now stands at 11%, thus freeing additional banking funds in order to finance the economy, explained Dinkic.
The government will not be the one determining which banks will approve loans, but the National Bank of Serbia, said Dinkic, adding that these can only be those banks whose credit portfolio is rising.
He announced that nearly RSD 20 billion will be provided in 2009 for crediting the purchases of durable consumer goods.
We will also introduce loans for construction of flats, to increase the amount and reduce prices, said Dinkic.
He said that Baltic countries such as Ukraine are in a more difficult position than Serbia and are on the verge of economic collapse, while Hungary, Romania and Bulgaria are also facing a serious crisis.
This is thanks to the solid banking system in Serbia, he said, adding that Serbian banks need to activate their potential.
He also noted that only the German government came up with a package of measures, while other European countries are late with concrete measures.
Minister of Finance Diana Dragutinovic said that the set of measures will be harmonised at upcoming meetings with exporters.
The programme will be active in February, but it is difficult to predict all the details, Dragutinovic said, adding that all funds for this programme have been planned for in the budget.
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