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Reduction of reference rate of interest to increase liquidity
Belgrade,
5 November 2009
The Serbian Ministry of Economy and Regional Development issued a statement today welcoming the decision by the monetary board of the National Bank of Serbia (NBS) to reduce the reference rate of interest by 1%. This will reduce costs to the economy and increase its liquidity.
According to the statement, the reduction of the reference rate of interest will directly lead to a reduction of interest rates for liquidity loans in dinars which are being made available through the programme for subsidised loans.
The reference rate of interest is now 10% annually and the interest rate for liquidity loans in dinars calculated while taking into account a reduction of the NBS reference rate of interest now stands at an annual 6.5%.
Through the government’s programme for mitigating the impact of the crisis €960 million has been secured for the economy and citizens in loans, of which sum €776 million were loans for liquidity with a 3% annual interest rate.
Loans in dinars up to RSD 5.2 billion (or €53.8 million) were also provided, the statement says, adding that €130 million in consumer loans have so far been provided to citizens through this programme.
The reference rate of interest is now 10% annually and the interest rate for liquidity loans in dinars calculated while taking into account a reduction of the NBS reference rate of interest now stands at an annual 6.5%.
Through the government’s programme for mitigating the impact of the crisis €960 million has been secured for the economy and citizens in loans, of which sum €776 million were loans for liquidity with a 3% annual interest rate.
Loans in dinars up to RSD 5.2 billion (or €53.8 million) were also provided, the statement says, adding that €130 million in consumer loans have so far been provided to citizens through this programme.
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