"Banking sector resisted, economy faces challenges"

Deputy PM and Minister of Economy Mlađan Dinkić says Serbia will not be spared from the effects of the large-scale global economic crisis.

Izvor: Politika

Sunday, 23.11.2008.

17:13

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Deputy PM and Minister of Economy Mladjan Dinkic says Serbia will not be spared from the effects of the large-scale global economic crisis. Dinkic however noted in an interview for the daily Politika on Sunday that our banking system has managed to resist the first wave, and stressed that the “challenges the crisis is bringing along are now mainly directed at the economy”. "Banking sector resisted, economy faces challenges" ”It will not be easy, but if we are wise enough, I am convinced that, in time, Serbia may even profit from this - that with the arrival of certain industries from less competitive countries, such as car parts makers, considerable funds will be pumped into the manufacturing sector,” Dinkic said. He also the newspaper that the crisis would not cause a revision of the Corridor 10 plans or an extension of the deadlines for the completion of this project because, as he put it, “money will not represent a problem”. “We have already obtained EUR 1.1bn in the form of long-term cheap loans from the World Bank, the European Investment Bank and the European Bank for reconstruction and development purposes. The Greeks have booked a EUR 100mn grant which we will receive once we have drafted a general plan for this highway. And the deadlines will depend solely on our internal organization, the speed at which we will realize the plans, the expropriation of land, construction,” Dinkic said.

"Banking sector resisted, economy faces challenges"

”It will not be easy, but if we are wise enough, I am convinced that, in time, Serbia may even profit from this - that with the arrival of certain industries from less competitive countries, such as car parts makers, considerable funds will be pumped into the manufacturing sector,” Dinkić said.

He also the newspaper that the crisis would not cause a revision of the Corridor 10 plans or an extension of the deadlines for the completion of this project because, as he put it, “money will not represent a problem”.

“We have already obtained EUR 1.1bn in the form of long-term cheap loans from the World Bank, the European Investment Bank and the European Bank for reconstruction and development purposes. The Greeks have booked a EUR 100mn grant which we will receive once we have drafted a general plan for this highway. And the deadlines will depend solely on our internal organization, the speed at which we will realize the plans, the expropriation of land, construction,” Dinkić said.

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