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Serbian Govt. adopts package of measures to boost economy

13. January 2012. | 07:51 08:41

Source: Tanjug

The Serbian government adopted Thursday a package of measures to boost the economy, the financial assitance which, together with the support to wagon construction industry expected next week, should total an RSD seven billion.

The Serbian government adopted Thursday a package of measures to boost the economy, the financial assitance which, together with the support to wagon construction industry expected next week, should total an RSD seven billion.

Minister of Economy and Regional Development Nebojsa Ciric said that the measures showed that, despite the need to cut budget expenditures over the current year, most policies and programs to support the economy had remained in force, save for subsidized loans.

During a press conference after the government's session, Minister Ciric said that the government had adopted an RSD 2.5 billion program of loan support to the economy to be implemented through the Development Fund.

It also adopted a program of measures to mitigate the negative effects of the economic crisis which, inter alia, includes assistance to local companies that manufacture trucks, buses and tractors, amounting to about RSD 600 million, said Ciric.

Ciric said that the government had also accepted a draft program of subsidy distribution schedules for tourism worth about RSD 2.7 billion, to be invested in the development of the industry branch.

Ciric pointed out that about RSD 600 million would be allocated to support events such as EXIT, the Guca Trumpet Festival and other similar manifestations, adding that RSD 700 million would be set aside for the completion of the Stara Planina tourist complex, RSD 850 million for the Public Enterprise Ski resorts of Serbia and RSD 30 million for the Palic tourist complex.

The minister announced the adoption the following week of a regulation to enable implementation of incentives for foreign and domestic investors through the Serbia Investment and Export Promotion Agency (SIEPA), worth about RSD five billion.

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