UAE to extend USD 3 million loan by year's end

When asked if there was any news regarding the approval of the announced USD 3 billion loan by the Emirates, Serbian First Deputy Prime Minister Aleksandar Vucic reiterated that he hoped that the loan would be agreed upon by the year's end.

As it was announced in mid-October by Mladjan Dinkic, the deputy chair of the Serbian government's Committee for Cooperation with the United Arab Emirates, part of that money will be used to repay debts, primarily those to the IMF, whereas the rest will be invested in agriculture and other forms of production.

Vucic said Friday (1 November 2013) that industrial production had grown 3.22 percent in the third quarter of 2013, adding that that was the best result not only in 2013, but also in the last few years. He also noted that the budget deficit in October was the lowest possible.

Vucic reminded that from the macroeconomic point of view, the situation in September had been satisfactory with a higher VAT collection rate.