Serbia's government-subsidised loans up to EUR 774mn in Q4 - central bank.

By bne IntelliNews February 14, 2013
The value of government-subsidised loans in Serbia jumped to RSD 86.1bn (EUR 774mn) in the fourth quarter of 2012 from RSD 6.3bn a year earlier, the central bank (NBS) said in its February inflation report. The major part of the subsidised loans approved in Q4 2012 was related to the corporate sector (RSD 83.3bn). Most of the extended loans (69.7% share in total) were allocated for current expenditures and liquidity support. Refinancing loans accounted for 22.8% of total approved loans in Q4, while the remaining was allocated for export loans (7.5% share in total). The increase of subsidised lending in Serbia since September 2012 was mainly triggered by the government's subsidised liquidity loan programme for domestic entrepreneurs and SMEs, launched on September 1. The programme contributed to support overall bank lending in Serbia. According to our calculations, average credit growth in 2012 went up to 16.4% from 14.1% a year earlier. However, it remained below its level in 2010, reflecting the overall decline in the economic activity. In January 2013, the finance ministry said that RSD 600mn have been allocated from this year's budget for the continuation of the liquidity subsidised lending programme. In addition, Serbia will allocate RSD 1.7bn for subsidising housing loans in 2013.

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