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A:
Funds for 2009 budget deficit secured
Belgrade,
5 February 2009
Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said today that the €400 million proceeds from the sale of the Serbian oil industry, Naftna Industrija Srbije (NIS), will provide funds for budget deficit financing and payment of Serbia’s public debt in 2009.
Author:
Tanjug
At a ceremony held to present the Blic entrepreneur of the year award Dinkic said that the government has completed the financial plan for this year, adding that a sum of €1 billion was needed for financing the budget deficit and paying public debt.
He said that funds of €300 million were transferred from the previous year, €400 million comes from the sale of NIS, and Serbia still has the right to draw €300 million from international banks.
The Minister said that several loan arrangements were ratified last year and technicalities concerning drawing the funds will take a matter of days.
Dinkic said that the main item on the government’s agenda for today’s session will be a set of measures concerning the construction of transport infrastructure, primarily the action plan for the construction of Corridor 10 and support for the national airline Jat will also be considered.
He said that the government will today also adopt decrees for implementing the measures adopted for supporting the economy, specifying that all enterprisers, according to the number of employees, have been divided into four groups, shops, small, medium and large enterprises.
The loans for liquidity will range from €20,000 for a shop up to €2 million for big companies, while investment loans will amount to between €30,000 and €4 million, he said.
Priority will be given to exporters, Dinkic said, noting that half of the funds for liquidity will be distributed to exporters.
The loan takers will be obliged to keep at least the same number of employees, he said.
The state will search for a strategic partner for machine and tractor manufacturer Industrija Motora I Traktora (IMT), he said and announced that the plant will be moved from New Belgrade to another location.
He announced a new privatisation model for IMT will be established next week.
Dinkic noted that the government is still subsidising IMT and the company can offer its tractors for sale with a 6% interest rate loan..
This is not a long-lasting solution, the durable solution for IMT is a strategic partner and probably a joint model of investment, Dinkic concluded.
The Blic Entrepreneur 2008 Award went to the Director of the company Agrounik from Zemun, Snezana Djordjevic, who was chosen in a competition organised by the Blic daily and Banca Intesa.
The bank presented the winner with €30,000, to be invested in the construction of a biotechnology laboratory for the production of microbiological fertilizers used to produce organic food.
Four other companies in the category of small and medium-sized enterprises received runner up awards each worth €2,000.
He said that funds of €300 million were transferred from the previous year, €400 million comes from the sale of NIS, and Serbia still has the right to draw €300 million from international banks.
The Minister said that several loan arrangements were ratified last year and technicalities concerning drawing the funds will take a matter of days.
Dinkic said that the main item on the government’s agenda for today’s session will be a set of measures concerning the construction of transport infrastructure, primarily the action plan for the construction of Corridor 10 and support for the national airline Jat will also be considered.
He said that the government will today also adopt decrees for implementing the measures adopted for supporting the economy, specifying that all enterprisers, according to the number of employees, have been divided into four groups, shops, small, medium and large enterprises.
The loans for liquidity will range from €20,000 for a shop up to €2 million for big companies, while investment loans will amount to between €30,000 and €4 million, he said.
Priority will be given to exporters, Dinkic said, noting that half of the funds for liquidity will be distributed to exporters.
The loan takers will be obliged to keep at least the same number of employees, he said.
The state will search for a strategic partner for machine and tractor manufacturer Industrija Motora I Traktora (IMT), he said and announced that the plant will be moved from New Belgrade to another location.
He announced a new privatisation model for IMT will be established next week.
Dinkic noted that the government is still subsidising IMT and the company can offer its tractors for sale with a 6% interest rate loan..
This is not a long-lasting solution, the durable solution for IMT is a strategic partner and probably a joint model of investment, Dinkic concluded.
The Blic Entrepreneur 2008 Award went to the Director of the company Agrounik from Zemun, Snezana Djordjevic, who was chosen in a competition organised by the Blic daily and Banca Intesa.
The bank presented the winner with €30,000, to be invested in the construction of a biotechnology laboratory for the production of microbiological fertilizers used to produce organic food.
Four other companies in the category of small and medium-sized enterprises received runner up awards each worth €2,000.
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