The Serbian government adopted on Thursday a programme of measures to mitigate the adverse effects of the global economic crisis, at the proposal by the Ministry of Economy and Regional Development, and allocated RSD 7 million worth of budget funds to this purpose.

The programme represents a continuation of measures through granting subsidised loans to the country's economy and citizens, such as loans for liquidity, working capital financing, loans for export businesses, investment loans, consumer loans and subventions to encourage production and repair of rolling stock of the Serbian Railways company.

The programme also includes the continuation of subsidised purchase of Serbian-made cars according to the principle 'old-for-new', support to the country's construction industry through interest rate subvention for mortgage loans, encouragement of production, repair and sale of construction equipment and trucks, as well as production and sale of tractors made in Serbia.

The government also adopted a programme on credit support to the country's economy through the Development Fund.

In 2009 and 2010, a similar programme helped Serbia put a stop to sudden production drop, maintain employment rate, increase economic liquidity and step up demand for certain Serbian-made consumer durables, the release notes.