News

8.05.2006.

Japanese First Time Investment in Serbia

Serbian Minister of Finance Mladjan Dinkic and Senior Vice President of Japan Tobacco International (JTI) Mitsuomi Koizumi have signed today a contract on the sale of state-owned shares in the Senta Tobacco Industry for the price of €27.5 million.
More 8.05.2006.

Fitch Affirms Serbia at ‘BB-’; Outlook Stable

Fitch Ratings-London-25 April 2006: Fitch Ratings today affirmed the Republic of Serbia’s Foreign Currency and Local Currency Issuer Default Ratings (“IDR”) at ‘BB-’ (BB minus) with Stable Outlooks. At the same time, the agency affirmed the Short-term rating and the Country Ceiling at ‘B’ and ‘BB-’ (BB minus) respectively. Credit developments in Serbia have been mixed over the past 12 months. “Serbia is growing robustly, ran a budget surplus estimated at 1.6% of GDP last year, made important advances in structural reforms and started EU negotiations on a Stabilisation and Association Agreement,” says Edward Parker, Head of Emerging Europe sovereigns at Fitch. “However, inflation climbed to 17.7% at end-2005, the current account deficit remains large and buoyant bank credit growth and rising non-performing loans signal risks to financial stability”.
More 1.05.2006.

Launch of €1 bln national investment plan in second half of the year

Serbian Minister of Finance Mladjan Dinkic said in an interview with daily Politika that the realisation of priority projects as part of the five-year national investment plan will start already in the second half of the year. Dinkic spoke to Politika about inflation rate, monetary policy, private domestic and foreign investments and public investments as well as other current topics.
More 20.04.2006.

Government to launch national investment plan by end-June

Serbian Minister of Finance Mladjan Dinkic said the government adopted today the Information on the need for a national investment plan for the 2006-2011 period and a proposal on forming a coordinating body which will be in charge of drafting and implementing this plan. In a press conference held after the government session, Dinkic said he was proposed for coordinating the body, while body members should include ministers’ of economy, science and environmental protection, capital investment, and trade, tourism and services.
More 6.04.2006.

€1 bln national investment plan coming up soon

Serbian Minister of Finance Mladjan Dinkic announced today that the Ministry will send the government a proposal of the national investment plan worth €1 billion for four major sectors in the next ten days. The surplus from this year’s budget will be used only for public investment, Dinkic said and specified that the funds will be invested in schools, health sector, infrastructure and the economy, that is, for the purchase of computers, school desks, hospital beds, as well as for highway construction, introduction of gas system and many other projects.
More 4.04.2006.

Agreement on setting up new Mobi 63 company signed

Serbian Minister of Finance Mladjan Dinkic said the government gave consent to the agreement signed with the consortium of Austrian businessmen, led by Martin Schlaff, on establishing a joint telecommunications company Mobi 63, where Serbia owns 70% and Austrian investors 30% of the company capital.
More 31.03.2006.

Credit Research Report on Serbia published

Standard & Poor's Ratings Services published Research Report on Serbia's crediting position. 'BB-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Serbia were affirmed in the Report, revising the outlook on the Republic of Serbia to positive from stable.
28.03.2006.

Model of municipality Indjija good example for all local self-government in Serbia

Serbian Minister of Finance Mladjan Dinkic said today that the municipality of Indjija has attracted foreign investors and thus succeeded in increasing its revenues without anyone’s help. He pointed out that this model of motivating foreign investors would be the best one throughout Serbia. During his visit to Indjija, Dinkic said that considering the great interest shown by foreign investors in that city in Vojvodina, the Serbian government will make efforts to reconstruct the regional road E 109 into a motorway and link it with the Pan-European Corridor 10.
More 27.03.2006.

EBRD becomes minority shareholder of Komercijalna Banka

Serbian Minister of Finance Mladjan Dinkic, Head of the Financial Institutions Group and Equity at the European Bank for Reconstruction and Development (EBRD) Kurt Geiger and Komercijalna Banka’s president and vice-president Ivica Smolic and Predrag Mihajlovic signed today a recapitalisation agreement for 25% of Komercijalna Banka’s assets, which made EBRD Komercijalna’s minority shareholder.
More 23.03.2006.

Help for citizens afflicted by natural disasters

Serbian Minister of Finance Mladjan Dinkic said that the government decided on the formation of a Coordinating Body for directing activities in damage relief work amidst landslides on the territories of municipalities Trstenik and Brus. He said that this body comprises six ministers led by Minister of Capital Investment Velimir Ilic. He recalled that in the past two weeks 370 million dinars have been granted as emergency aid for the affected areas.
More 22.03.2006.

Dinkic candidate for "Finance minister of the year 2005"

Member of the Management Board of the Vienna Stock Exchange (VSX) Michael Buhl said today that Serbian Minister of Finance Mladjan Dinkic has been nominated for the award "Finance minister of the year 2005." The competition is being organised by the European economic magazine "Euromoney."
More 28.02.2006.

Serbia and Austria successfully concluded negotiations on Mobtel

Serbian Minister of Finance Mladjan Dinkic said today that negotiations with the Austrian consortium on all controversial issues in connection with the mobile telephone operator Mobtel, held under the mediation of Austrian Vice Chancellor Hubert Gorbach, have come to a successful conclusion. Dinkic expressed satisfaction for the successful conclusion, and said at a press conference, that finally, after 12 years, there is a clean legal case concerning the first domestic mobile telephone operator.
More 28.02.2006.

Serbia’s credit rating positively estimated by Standard & Poor's Ratings Services

Standard & Poor's Ratings Services said today it revised its outlook on the Republic of Serbia to positive from stable. At the same time, the 'BB-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Serbia were affirmed. "The outlook change is based on Serbia's progress with fiscal consolidation and resultant decline in the government debt burden, good macroeconomic prospects, and legislative progress underpinning the government's reform agenda and EU integration," said Standard & Poor's credit analyst Sladana Tepic.
More 27.02.2006.

EBRD interested in recapitalisation of Komercijalna Banka

Serbian Minister of Finance Mladjan Dinkic opened today the international banking fair "Bank Expo 2006" and announced the recapitalisation of 25% of capital of Komercijalna Banka bank, in which the European Bank for Reconstruction and Development (EBRD) is interested.
More 15.02.2006.

Paris Club approved official write-off of Serbia's debt

The Paris Club of Creditors yesterday approved the formal and official write-off of Serbia's debt worth $700 million, following the successful completion of a three-year arrangement with the International Monetary Fund Serbian Minister of Finance Mladjan Dinkic said today.
More

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