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Cvetkovic opens business forum on Mt Kopaonik
Kopaonik,
3 March 2009
At the opening of a business forum on Mt Kopaonik, Serbian Prime Minister Mirko Cvetkovic stated that Serbia will agree on a stand-by arrangement with the IMF after its arrival in Belgrade, scheduled for the middle of March.
Author:
Tanjug
Cvetkovic said that the new arrangement with the IMF envisages the increase of Serbia’s budget deficit by 1% or even more, which implies a decrease in spending.
The Prime Minister said that the budget deficit will be covered by foreign loans, adding that Serbia will ask the EU for macro-financial help.
He pointed out that the planned economic growth of 3.5% will be considerably altered and announced that besides its five economists the Economic Council will comprise representatives from economic associations and have 15 members.
Cvetkovic noted that the government is ready to earmark RSD 40 billion as a guarantee for banks during the global financial crisis.
The government, together with the National Bank of Serbia, will help preserve the Serbian banking sector.
Serbian President Boris Tadic said that there must be no connection between crime, economy, judiciary and politics in Serbia any more. That is a precondition for a better future of Serbian citizens, as well as for the economic and social reforms the government is soon to implement.
In the upcoming period those who possess large capital will not be able to earn as much money as they used to and SMEs will not be allowed to withdraw their loans, said Tadic.
He stressed that Serbia spends much more than it earns, adding that a better standard of living for Serbian citizens in the previous period was not followed by realistic economic development.
When reaching any political or economic decision we must think about our children, as their future depends on our decisions, said the President.
Addressing the participants of the forum, Tadic said that he expects them to provide innovative solutions, as Serbia will not be able to overcome the global financial crisis with its current economic ideology.
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said that the business forum will convey the message that Serbia must make efforts in order to surmount the crisis.
Dinkic said that the government will discuss its measures with businesspeople and scientist, recalling that Serbian citizens have felt the influence of the crisis since the last October.
The forum will also discuss a budget revision, the preservation of jobs and problems of companies whose exports have fallen.
He recalled that the government has already implemented measures concerning the banking sector and provided loans for businesspeople.
During the last seven days Banca Intesa and Komercijalna Banka received applications for more than €90 million in loans.
The Minister added that around 160 SMEs applied for loans and a half of the money has already been paid off.
The dinar has been stable in the last month and we hope it will continue that way in the upcoming period, said Dinkic.
The situation in terms of inflation is not very good due to the increase in the prices of oil and gas.
The Prime Minister said that the budget deficit will be covered by foreign loans, adding that Serbia will ask the EU for macro-financial help.
He pointed out that the planned economic growth of 3.5% will be considerably altered and announced that besides its five economists the Economic Council will comprise representatives from economic associations and have 15 members.
Cvetkovic noted that the government is ready to earmark RSD 40 billion as a guarantee for banks during the global financial crisis.
The government, together with the National Bank of Serbia, will help preserve the Serbian banking sector.
Serbian President Boris Tadic said that there must be no connection between crime, economy, judiciary and politics in Serbia any more. That is a precondition for a better future of Serbian citizens, as well as for the economic and social reforms the government is soon to implement.
In the upcoming period those who possess large capital will not be able to earn as much money as they used to and SMEs will not be allowed to withdraw their loans, said Tadic.
He stressed that Serbia spends much more than it earns, adding that a better standard of living for Serbian citizens in the previous period was not followed by realistic economic development.
When reaching any political or economic decision we must think about our children, as their future depends on our decisions, said the President.
Addressing the participants of the forum, Tadic said that he expects them to provide innovative solutions, as Serbia will not be able to overcome the global financial crisis with its current economic ideology.
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic said that the business forum will convey the message that Serbia must make efforts in order to surmount the crisis.
Dinkic said that the government will discuss its measures with businesspeople and scientist, recalling that Serbian citizens have felt the influence of the crisis since the last October.
The forum will also discuss a budget revision, the preservation of jobs and problems of companies whose exports have fallen.
He recalled that the government has already implemented measures concerning the banking sector and provided loans for businesspeople.
During the last seven days Banca Intesa and Komercijalna Banka received applications for more than €90 million in loans.
The Minister added that around 160 SMEs applied for loans and a half of the money has already been paid off.
The dinar has been stable in the last month and we hope it will continue that way in the upcoming period, said Dinkic.
The situation in terms of inflation is not very good due to the increase in the prices of oil and gas.
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