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New competition for start-up loans in March
Belgrade,
19 February 2009
Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said today that a new competition for start-up loans will begin in the middle of March.
Following the signing of a memorandum on the approval of loans for first time entrepreneurs between Belgrade City and the Development Fund, Dinkic said that this year 3000 loans worth a total of RSD 4 billion will be approved, adding that the state approved 4,000 start-up loans during the previous two years.
He said that nearly 12,000 people have found employment owing to state loans and one enterprise created three new jobs on average.
He reiterated that the government will make all efforts to avoid recession, stressing that mild economic growth is expected this year.
We are doing everything in our power to avoid a recession. According to European statistical methodology recession occurs when a country’s GDP falls in two consecutive quarters. Serbia has not had a GDP fall until now and economic growth took place in the fourth quarter of 2008, explained Dinkic.
He said that the biggest number of problems is expected to occur in the economic sector, therefore a plan has been made to use the “sleeping capital” in banks to improve their liquidity.
It is certain that economic growth will depend on the loans given to the economy and I expect that this support will make a mild economic growth possible this year. If you look at the EU, the majority of countries are already in recession but some have managed to avoid it, such as Slovakia, said the Minister, adding that Serbia will also be among these countries.
He stressed that start-up loans will be approved to those who apply first and meet the conditions, adding that enterprises in need of financial support should not wait and get in touch with their banks at the beginning of next week.
Speaking about the banking sector Dinkic said that Serbian banks are stronger than the other banks in the region.
He said that during the first two months of this year nearly € 150 million was invested in banks.
I believe that owing to a stronger banking system Serbia will deal with the economic crisis more easily than many other countries, said Dinkic.
He said that nearly 12,000 people have found employment owing to state loans and one enterprise created three new jobs on average.
He reiterated that the government will make all efforts to avoid recession, stressing that mild economic growth is expected this year.
We are doing everything in our power to avoid a recession. According to European statistical methodology recession occurs when a country’s GDP falls in two consecutive quarters. Serbia has not had a GDP fall until now and economic growth took place in the fourth quarter of 2008, explained Dinkic.
He said that the biggest number of problems is expected to occur in the economic sector, therefore a plan has been made to use the “sleeping capital” in banks to improve their liquidity.
It is certain that economic growth will depend on the loans given to the economy and I expect that this support will make a mild economic growth possible this year. If you look at the EU, the majority of countries are already in recession but some have managed to avoid it, such as Slovakia, said the Minister, adding that Serbia will also be among these countries.
He stressed that start-up loans will be approved to those who apply first and meet the conditions, adding that enterprises in need of financial support should not wait and get in touch with their banks at the beginning of next week.
Speaking about the banking sector Dinkic said that Serbian banks are stronger than the other banks in the region.
He said that during the first two months of this year nearly € 150 million was invested in banks.
I believe that owing to a stronger banking system Serbia will deal with the economic crisis more easily than many other countries, said Dinkic.
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