Q:
A:
Economic growth of 2% expected next year
Belgrade,
30 October 2012
Minister of Finance and Economy Mladjan Dinkic said today that if favourable conditions on the international financial market continue, Serbia will make another issue of Eurobonds worth $500 million.
Author:
Tanjug
Speaking at the 9th Raiffeisen economic conference, Dinkic said that with this Serbia will ensure predictable funding of the budget until spring.
He said that the new issue of Eurobonds will be made if the interest is favourable, and all indications are that it will be far below 6% and recalled that late last month Serbia managed to sell Eurobonds in the amount of $1 billion with a yield of 6.625%.
The Minister of Finance and Economy reiterated that an economic growth of 2% is expected next year and if the problem of Zelezara Smederevo steelworks is solved by the end of the year, the growth will be even higher.
Dinkic said that an IMF mission will come to Serbia on 13 November to make introductory talks ahead of the negotiations on the new arrangement which are expected to take place in January and February next year.
The first phase of talks in which the 2013 budget bill will be discussed will be held in November, Dinkic added.
Dinkic said that yesterday the Serbian government recapitalised Komercijalna Banka with the amount of €100 million, by which the state became the largest shareholder, with 42% of shares, in this biggest bank in Serbia.
He added that he is satisfied with how the transfer of deposits from Nova Agrobanka to Postanska Stedionica was carried out although it was a complicated technical operation.
Dinkic noted that Postanska Stedionica will have capital adequacy above 20%, and the level of unpayable loans in this bank is very low.
He said that the new issue of Eurobonds will be made if the interest is favourable, and all indications are that it will be far below 6% and recalled that late last month Serbia managed to sell Eurobonds in the amount of $1 billion with a yield of 6.625%.
The Minister of Finance and Economy reiterated that an economic growth of 2% is expected next year and if the problem of Zelezara Smederevo steelworks is solved by the end of the year, the growth will be even higher.
Dinkic said that an IMF mission will come to Serbia on 13 November to make introductory talks ahead of the negotiations on the new arrangement which are expected to take place in January and February next year.
The first phase of talks in which the 2013 budget bill will be discussed will be held in November, Dinkic added.
Dinkic said that yesterday the Serbian government recapitalised Komercijalna Banka with the amount of €100 million, by which the state became the largest shareholder, with 42% of shares, in this biggest bank in Serbia.
He added that he is satisfied with how the transfer of deposits from Nova Agrobanka to Postanska Stedionica was carried out although it was a complicated technical operation.
Dinkic noted that Postanska Stedionica will have capital adequacy above 20%, and the level of unpayable loans in this bank is very low.
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