"EU could back Serbian budget"

Deputy PM Božidar Đelić says that talks with the European Commission (EC) could open in March on some EUR 400mn macro-financial assistance to the budget.

Izvor: Tanjug

Saturday, 27.12.2008.

18:40

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Deputy PM Bozidar Djelic says that talks with the European Commission (EC) could open in March on some EUR 400mn macro-financial assistance to the budget. "A telephone conference was held with European Commissioner for Economic and Monetary Affairs Joaquin Almunia, National Bank of Serbia Governer Radovan Jelasic and Finance Minister Diana Dragutinovic and we clearly defined the coordinates of the possible EU macro-financial support to our country," Djelic told Tanjug. "EU could back Serbian budget" He explained that in question is possible direct backing to the budget that would be realized in case the budget revenue is lower than projected. Djelic, however, underscored that the condition for this is that the 2009 budget is adopted in time and that the IMF and Serbia have a stand-by arrangement that is valid. Djelic said he expects this to happen and the political factors "to comprehend the gravity of the situation and not gamble with their own ratings."

"EU could back Serbian budget"

He explained that in question is possible direct backing to the budget that would be realized in case the budget revenue is lower than projected.

Đelić, however, underscored that the condition for this is that the 2009 budget is adopted in time and that the IMF and Serbia have a stand-by arrangement that is valid.

Đelić said he expects this to happen and the political factors "to comprehend the gravity of the situation and not gamble with their own ratings."

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