Billion-dollar UAE loan "won't affect public debt"
The approx. USD 1 bln loan Serbia will get from the United Arab Emirates Development Fund will not lead to an increase of the public debt.
Tuesday, 18.10.2016.
12:03
Billion-dollar UAE loan "won't affect public debt"
According to Vujovic, the loan is aimed at supporting the budget through funding the deficit, refinancing due liabilities and reducing the costs of loans.The average interest rate will be 2.25 pct, saving 40-50 mln dollars, he said.
Over the past five to six years, Serbia has been taking unfavorable loans, but the risks are lower now, Vujovic said, adding that the funds would become available in December or January.
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