EC: EUR 100mn in support to budget
The European Commission (EC) has granted EUR 100mn to Serbia's budget, it was announced.
Friday, 31.07.2009.
14:45
The European Commission (EC) has granted EUR 100mn to Serbia's budget, it was announced. This came in order to help the country's economic recovery and reduce the consequences of the global economic crisis. EC: EUR 100mn in support to budget EC's statement says that Serbia's budget deficit is rapidly growing due to the current crisis, which is why a program for macroeconomic stability was launched, with the support of the International Monetary Fund (IMF) and the World Bank. According to the statement, the goal of EC's budget support is to help this initiative. The budget support will help Serbia continue the reforms regarding the EU integration, which would possibly have been postponed due to the current crisis, the EU Commissioner for Enlargement Olli Rehn pointed out. In this way, we support Serbia's efforts to resume the integration process during the economic crisis, he added. The EUR 100bn aid was allocated from the Instrument for Pre-Accession Assistance (IPA) and the payment will be carried out in two installments of EUR 50mn, the first one in autumn this year and the second one in the first half of 2010.
EC: EUR 100mn in support to budget
EC's statement says that Serbia's budget deficit is rapidly growing due to the current crisis, which is why a program for macroeconomic stability was launched, with the support of the International Monetary Fund (IMF) and the World Bank.According to the statement, the goal of EC's budget support is to help this initiative.
The budget support will help Serbia continue the reforms regarding the EU integration, which would possibly have been postponed due to the current crisis, the EU Commissioner for Enlargement Olli Rehn pointed out. In this way, we support Serbia's efforts to resume the integration process during the economic crisis, he added.
The EUR 100bn aid was allocated from the Instrument for Pre-Accession Assistance (IPA) and the payment will be carried out in two installments of EUR 50mn, the first one in autumn this year and the second one in the first half of 2010.
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