Serbia close to agree USD 300mn budget financing from Russia.

By bne IntelliNews September 5, 2012
Serbia and Russia are close to agree on a USD 300mn loan that would go to support the Balkan country's budget, Serb mining minister Milan Bacevic told news agency Tanjug after meeting his Russian counterpart in Moscow on Sept 4. The funding could be withdrawn by mid-December, Bacevic said. According to him, Serbia has asked Russia for another loan that would be used to finance next year's budget spending and the possibility to receive a positive answer in this respect is very high. Last month, Tanjug quoted the Russian ambassador to Serbia, Alexander Konuzin, as saying that Serbia can count on an additional financial support from Russia, apart from the agreed USD 800mn loan for the Serbian railways operator. Serbia has pledged to use the USD 800mn loan to finance exclusively the railway sector development, as agreed, and not to redirect funds to finance fiscal spending.

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss