Vujovic: Lower interest rates for large public enterprises

Large companies should be capable of accepting foreign management, to keep up with the rest of the world and to make sure that they can refinance their financial obligations at lower interest rates – says Serbian Finance Minister, Dusan Vujovic.

The Finance Minister is currently in Washington where he is continuing the talks with the IMF which started in Belgrade in September and which are supposed to be completed by the late October, also in Belgrade.

“We talked to the World Bank about the ongoing projects and their plans to cooperate with the Serbian government on setting priorities and assessing how did the new government do with implementing its priorities in the first 100 days of its term”, the Minister explained.

Vujovic talked to the World Bank’s Vice President for Europe and Central Asia, Cyril Muller who said that he was satisfied with the latest trends in the Western Balkans, including Serbia. However, he objected to the very slow process of restructuring of public enterprises.

Muller also said that the Berlin Initiative had entered its final stage and that negotiations were on the way regarding the assistance to the Serbian commerce as the foundation for development of the cooperation, as well as the assistance to free trade and providing financial services that facilitate it.

“A year ago, there were obstacles in validating the programme for restructuring of large public enterprises and now we have finally started to implement it. The point is for these enterprises to be capable of accepting foreign management, to keep up with the rest of the world and to make sure that they can refinance their financial obligations at lower interest rates” – says the Serbian Finance Minister.

The minister also noted that there was a slight slowdown in GDP in 2016, adding that the forecast for 2017 was a bit better.

(Blic, 09.10.2016)

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