Minister: Serbia escaped bankruptcy

BELGRADE Minister of Finance and Economy Mladjan Dinkic has said that a government intervention prevented the country's bankruptcy. He added that the country can expect economic growth of at least two percent of GDP in the next two years, Beta news agency is reporting. Minister: Serbia escaped bankruptcy "The country was a step away from bankruptcy. Public debt interest rates were growing progressively and without financial consolidation measures Serbia would have been in a situation similar to Greece's", Dinkic said at the 9th Raiffeisen Economic Conference in Belgrade. The minister explained that the key elements of expected economic growth were two billion euros from the export of a new Fiat model and a better agricultural season than this year's. Dinkic also said that Serbia would issue new Eurobonds worth 500 million dollars in November, if interest rates were lower than six percent, which will secure funding for the country until the spring of 2013. (Tanjug, file) Beta

Minister: Serbia escaped bankruptcy

"The country was a step away from bankruptcy. Public debt interest rates were growing progressively and without financial consolidation measures Serbia would have been in a situation similar to Greece's", Dinkić said at the 9th Raiffeisen Economic Conference in Belgrade.

The minister explained that the key elements of expected economic growth were two billion euros from the export of a new Fiat model and a better agricultural season than this year's.

Dinkić also said that Serbia would issue new Eurobonds worth 500 million dollars in November, if interest rates were lower than six percent, which will secure funding for the country until the spring of 2013.