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Funds for RTB Bor to be provided from budget
Belgrade,
6 February 2009
Minister of Finance Diana Dragutinovic today said that funds for RTB Bor will be provided from the state budget, particularly part of the budget originally intended for Fiat.
At a pres conference, following the signing of an agreement on integrated border management, Minister Dragutinovic said that Fiat will postpone its €200 million pay-off for founding capital until next year due to the global financial crisis.
Fiat was to pay for its founding capital by March 31, but at last week’s meeting between Serbian and Fiat representatives, the deadline was postponed by the end of this year.
The Minister explained that funds for Jat Airways’ social programme will be provided from the transition fund and as a budget loan, for which the guarantee will be the company’s property.
Dragutinovic said that €400 million Serbia received from Rissia’s Gazpromneft for the sale of the Serbian oil company NIS will contribute to the stabilization of the dinar.
The Minister reiterated that 50% of the money well be set aside for Vojvodina but in dinars, so all the money will be used as foreign currency reserves.
Fiat was to pay for its founding capital by March 31, but at last week’s meeting between Serbian and Fiat representatives, the deadline was postponed by the end of this year.
The Minister explained that funds for Jat Airways’ social programme will be provided from the transition fund and as a budget loan, for which the guarantee will be the company’s property.
Dragutinovic said that €400 million Serbia received from Rissia’s Gazpromneft for the sale of the Serbian oil company NIS will contribute to the stabilization of the dinar.
The Minister reiterated that 50% of the money well be set aside for Vojvodina but in dinars, so all the money will be used as foreign currency reserves.
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