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A:
National development bank to be formed
Belgrade,
23 September 2011
Prime Minister and Minister of Finance Mirko Cvetkovic said today that by issuing Eurobonds Serbia has fully secured liquidity at the European market for this and next year.
Cvetkovic said at a news conference in the Serbian government, held after the meeting with League of Social Democrats of Vojvodina (LSV) President Nenad Canak, that this is a historic moment as Serbian securities will for the first time appear at this market.
Apart from the appearance at the European market, this will bring more positive things, he said.
He explained that the state will no longer appear as a competitor to the local economy. The Prime Minister pointed out that the issuance of Eurobonds will help Serbia cover its deficit more easily and also position itself at the European financial market. We are now largely financed by foreign sources. This brings foreign funds, which has not been the case so far, said he and announced that the issuance of Eurobonds will be continued.
Cvetkovic confirmed that the development bank of Serbia will be established within the next two to three months, but that it will effectively start with work next year. The development bank is one of the serious projects that will have long-term and strategic importance, concluded the Prime Minister.
He explained that the state will no longer appear as a competitor to the local economy. The Prime Minister pointed out that the issuance of Eurobonds will help Serbia cover its deficit more easily and also position itself at the European financial market. We are now largely financed by foreign sources. This brings foreign funds, which has not been the case so far, said he and announced that the issuance of Eurobonds will be continued.
Cvetkovic confirmed that the development bank of Serbia will be established within the next two to three months, but that it will effectively start with work next year. The development bank is one of the serious projects that will have long-term and strategic importance, concluded the Prime Minister.
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