Q:
A:
Agreement on Swiss technical assistance to Deposit Insurance Agency
Belgrade,
24 February 2009
Minister of Finance Diana Dragutinovic, Swiss Ambassador to Serbia Ervin Hofer and director of the Deposit Insurance Agency Milorad Dzambic today signed an agreement on Switzerland’s technical assistance to the Agency worth €2.74 million.
Ervin Hofer, Diana Dragutinovic and Milorad Dzambic
Dragutinovic told a press conference following the signing that the agreement was signed between Serbia, represented by the Ministry of Finance and the Deposit Insurance Agency, and Switzerland, represented by the State Secretariat for Economic Affairs (SECO).
She explained that the agreement on technical assistance focuses mainly on the Serbian financial sector, primarily with the goal of protecting state deposits in nine banks and three insurance companies.
In four out of nine banks Serbia has the majority ownership, said Dragutinovic explaining that the Swiss donation will also help to increase the state share in these banks and insurance companies.
The Minister announced the possibility of merging three or four of these nine banks into a larger one, adding that no final decision on this has yet been made.
She also announced it is too early to discuss budget revision for this year, explaining that whether there will be any budget revision at all and to what degree will be known in March at the earliest.
She said it is not known what budget revenues will be like, particularly revenues form excise taxes which underwent the largest alterations, stressing that it is the state’s policy to cut costs due to the recession, as well as to increase the deficit should the need arise.
Director of the Deposit Insurance Agency Milorad Dzambic announced that the strategy on merging four state banks will be made in the first half of 2009.
She explained that the agreement on technical assistance focuses mainly on the Serbian financial sector, primarily with the goal of protecting state deposits in nine banks and three insurance companies.
In four out of nine banks Serbia has the majority ownership, said Dragutinovic explaining that the Swiss donation will also help to increase the state share in these banks and insurance companies.
The Minister announced the possibility of merging three or four of these nine banks into a larger one, adding that no final decision on this has yet been made.
She also announced it is too early to discuss budget revision for this year, explaining that whether there will be any budget revision at all and to what degree will be known in March at the earliest.
She said it is not known what budget revenues will be like, particularly revenues form excise taxes which underwent the largest alterations, stressing that it is the state’s policy to cut costs due to the recession, as well as to increase the deficit should the need arise.
Director of the Deposit Insurance Agency Milorad Dzambic announced that the strategy on merging four state banks will be made in the first half of 2009.
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