Vucic: Decision on Increase of State Guarantees for Bank Deposits from EUR 50,000 to EUR 100,000 in One Month

The banking and finance system as a whole and the public finances in Serbia are in an extremely good condition, said the president of Serbia, Aleksandar Vucic.

– The banking system has full stability and liquidity, the FX reserves are at an all-time high of EUR 21.2 billion. This year, we bought EUR 400 million through interventions in the FX market, the gold reserves are growing and are the highest they’ve ever been, the supervision comes from only one point, which is the National Bank – Vucic said.

He added that the banks were safe and that it was being considered whether to increase state guarantees for bank deposits from EUR 50,000 to EUR 100,000, and that the decision on it would be made in the next month.

He said that this showed how good the financial situation in Serbia was. At the moment, as he said, Serbia has RSD 546 billion or EUR 5 billion on its account.

Vucic said that Serbia didn’t have to take anything from the international FX market and that there was enough money for everything.

– Money is getting more expensive and there will be more and more problems, we have done a great thing – Vucic said.

He said the five million kilograms of salt would be procured, because salt is the only foodstuff that is not produced in the country. The plan, he said, is to also buy 40,000 tons of NPK mineral fertilizer and 50,000 tons of urea, or vice versa, because it is important for agriculturists.

– We will buy some wheat from the first harvest, there’s enough corn, and then we will buy more wheat from the second harvest. There’s enough of everything, the money situation is very good, people should spend freely, there will be no problems – Vucic said.

Aleksandar Vučić

banking system in Serbia

financial system in Serbia

public finances in Serbia

FX reserves

gold reserves

state guarantees for banking deposits

salt

procurement of salt

NPK

urea

wheat

purchase of wheat

corn