MILISAVLJEVIĆ: Lisovolik će podržati realni sektor
Na jučerašnjem sastanku sa predstavnikom Međunarodnog monetarnog fonda u Srbiji Bogdanom Lisovolikom, založili smo se da ta institucija u pregovorima sa srpskim zvaničnicima podrži zahteve privrednika jer dosadašnje mere vlade nisu bile usmerene ka realnom sektoru
Ukazali smo da poslovanje otežava nedostatak tražnje na domaćem tržištu, nelikvidnost kao i odbijanje banaka da naplate garancije za izmirivanje obaveza svojih klijenata. Pritom, na vidiku je i paket mera koji sadrži mogućnost da država preuzme dugovanja poslodavaca prema radnicima, što bi samo povećalo finansijsku nedisciplinu i ugrozilo tržišnu konkurenciju. Ali, podržali smo ideju o povećanju poreza na dodatnu vrednost za jedan odsto, pod uslovom da država preduzme mere na suzbijanju sivog tržišta, koje u sadašnjim uslovima, smanjuje realan promet legalnim firmama - rekao je za Danas Žarko Milisavljević, predsednik Asocijacije malih i srednjih preduzeća, posle sastanka.
Naš sagovornik ističe da su na sastanku ukazali da država, zbog neuređenog katastra propušta da ubere i značajne prihode od poreza na imovinu, kao i da se ta grupa privrednika založila za progresivno oporezivanje dobiti.
- To je bio prvi susret predstavnika MMF-a sa realnim sektorom, jer su razgovori do sada uglavnom vođeni sa političarima. Iako nismo utvrđivali zaključke, moj utisak je da će Lisovolik podržati stavove privrednika, a on sam je rekao da su mu sada mnogo jasniji pravci u kojima bi trebalo da se postave mere vlade za poslednji kvartal ove godine. Takođe, bio je vrlo određen u stavu da će insistirati na poštovanju zakona u sferi ekonomije, kako bi se izbegla sadašnja situacija u kojoj postoje povlašćeni poslodavci - tvrdi Milisavljević.
Pretvaranje potraživanja radnika u udeo u kapitalu firmi
Plan za socijalnu stabilnost, koji je usvojila vladina grupa, sadrži sedam glavnih tačaka, među kojima je predviđena i mogućnost da se potraživanja radnika pretvore (konvertuju) u njihov udeo u kapitalu preduzeća, izjavio je Nebojša Atanacković, predsednik Skupštine Unije poslodavaca Srbije (UPS)
Prema njegovim rečima, konverzija potraživanja radnika predviđena je za privatizovana preduzeća, a UPS tu meru podržava i smatra je pravičnom.
- Svako od nas je mogao da uđe u tu avanturu, a onda da posledice prelomi na radnike i na državu. Neprihvatljivo je da mi kroz budžetska davanja platimo ono što je neko drugi morao da plati - rekao je on.
U merama je predviđena i mogućnost da sama država izmiri obaveze za neuplaćeno penziono osiguranje preduzeća i da u zamenu za to postane jedan od suvlasnika, ali Atanacković naglašava da je veliko pitanje odakle će biti obezbeđen novac.
- Za ovu vladu i građane to nije problem koji je nastao danas, već problem koji je nastao od 1995. godine i ne znam da li će to biti moguće. Ali, u krajnjoj liniji, država je i do sada finansirala i zdravstvo i Penzioni fond - kazao je on.
Atanacković je precizirao da dokument sadrži još tačaka o kojima je već bilo reči u medijima, a koje se odnose na povezivanje staža i osiguranja zaposlenih koje nije uplaćivano od 2005. do 2009. godine, potpisivanje Sporazuma o socijalnom partnerstvu i preuzimanje uloge i odgovornosti svih zainteresovanih strana u rešavanju problema.
- Kod toga UPS ima načelnu primedbu. Sada se i sindikati i poslodavci pozivaju na određeni nivo odgovornosti, a nikako ne nailazimo da Vlada govori o svojoj odgovornosti. Uprave za prihode su bile dužne da kontrolišu uplatu doprinosa i da ne dozvole da se ovako nešto desi. Nismo čuli da je bilo ko odgovarao iz Uprave prihoda, kao i iz Ministarstva finansija za neispunjavanje svojih obaveza - ukazao je on.
Atanacković je naveo da je predviđeno i blagovremeno i efikasno preuzimanje mera MUP-a za održavanje reda i mira, odnosno predlaže se da se na drugi način regulišu okupljanja i protesti radnika.
Kako je objasnio, UPS pomenuti dokument još nije dobila u pismenoj formi, kako bi dala svoje sugestije i predloge do naredne sednice Vlade, za kada je predviđeno da bude usvojen pomenuti paket mera.
Vladina radna grupa za prevazilaženje problema u ostvarivanju prava zaposlenih u uslovima ekonomske krize juče je načelno usaglasila paket mera i očekuje se da bude predložen na usvajanje Vladi Srbije iduće sedmice.
Neuspeo tender za prodaju Sajma
Agencija za privatizaciju danas je službeno proglasila neuspelim tender za prodaju 70 odsto društvenog kapitala "Beogradskog sajma"
Posle pisanog izjašnjenja jedinog ponuđača na tenderu, Konzorcijuma "Rimini Fiera" Spa Italija i "Verano Motors" Beograd, da nije spreman da poveća ponuđenu cenu na iznos od najmanje 40 miliona evra, komisija za pregovore je 13. avgusta jednoglasno donela odluku da se ne zaključi Ugovor o prodaji.
Srpske firme žele Drogu Kolinsku?
Za kupovinu Istrabencove firme Droga Kolinska zainteresovani su američka Teksas Pacifik grupa (TPG) i najmanje jedno srpsko preduzeće, piše slovenački Dnevnik
TGP je na pitanje tog dnevnika o navodnoj kupovini Droge Kolinske odgovorio sa "vaše pitanje ne možemo komentarisati".
Srpsko preduzeće koje namerava da kupi slovenačko preduzeće bi "kod kupovine saradjivalo sa predsednikom uprave Droge Kolinske Slobodanom Vučićevićem, inače državljaninom Srbije".
On je, kako tvrdi izvor Dnevnika, o "mogućnosti vlasničkog ulaska u Drogu Kolinsku, koja ima u vlasništvu srpske kompanije Grand prom i Soko Štark, već razgovarao sa najmanje dva preduzeća sa područja bivše Jugoslavije - Marbom iz BIH i srpskim Centroproizvodom".
Predsednik uprave Istrabenca Bogdan Topič, koji je navodno juče boravio u Beogradu, početkom ove nedelje je, kako citira list, rekao da "prodaje Droge Kolinske neće biti".
Dnevnik Danas još kaže da će "prodaja Droge Kolinske, koja će biti kjučna za otplatu Istrabencovih finansijskih obaveza, pored ponuđene cene zavisiti i od volje banaka".
Banke će kao članice odbora poverilaca imati glavnu reč kod moguće prodaje imovine u postupku prinudnog poravnanja.
List, takođe, upozorava da je "više Istrabencovih banaka poverilaca u kreditnom odnosu sa Drogom Kolinskom zbog čega je odluka o mogućoj prodaji povezana sa planom novog vlasnika".
Droga Kolinska dobila kredit za vraćanje dugova
Kokta je jedan od najpoznatijih proizvoda Droge Kolinske.
Droga Kolinska je sa konzorcijumom sedam banaka koji vodi UniKredit Banka Slovenija zaključila ugovor o dugoročnom kreditnom aranžmanu u iznosu od 118,6 miliona evra.
Kredit će biti iskorišćen za otplatu kratkoročnih obaveza prema bankama, koje će dospeti do kraja 2010.godine, saopšteno je iz Droga
Kolinske, koja će biti jedna od prvih grupacija u regionu koja je pre jeseni obezbedila stabilnost finansiranja do kraja naredne godine kada
se očekuje smirivanje situacije i na tržištima u Jugoistočnoj Evropi.
"Moram naglasiti da cenim poverenje koje su banke ispoljile prema Drogi Kolinskoj...", rekao je tim povodom finansijski direktor kompanije Branko Greganovič.
Greganovič je još dodao da bi "kredit u stabilnim uslovima na domaćem tržištu bio sasvim uobičajen poslovni dogadjaj, a u sadašnjim uslovima izrazite finansijske krize predstavlja dugoročno kreditno jemstvo finansijske stabilnosti čitave grupacije Droga Kolinska".
U konzorcijumu učestvuje sedam banaka: Banka Koper, SID banka, Nova Ljubljanska banka (NLB), Nova komercijalna banka Maribor (NKBM), Hipo (Hypo) Banka, Rajfajsen Banka Slovenija, a UniKredit banka je i agent i organizator pomenutog zajma.
Kreditni aranžman je sastavljen iz dva dela i to od dugoročne tranše u iznosu od 95 miliona evra sa rokom otplate od pet godina i dospećem 2014. godine, i kratkoročnog dela u iznosu od 23,6 miliona evra, koji će preduzeće vratiti godinu dana nakon korišćenja kredita.
S obzirom na to da je reč o otplati postojećih dugova zaduženost kompanije i grupe Droga Kolinska neće se time povećati, naglašava još Droga Kolinska u saopštenju za javnost.
Obnova „Gazele” može da počne
Popravka najdužeg beogradskog mosta preko Save čeka još da austrijski „Štrabag” i „Putevi Srbije” potpišu ugovor
Ovih dana potpisan je akcioni plan za izmeštanje nehigijenskog naselja ispod mosta „Gazela” i sada su se stvorili uslovi za početak popravke najdužeg beogradskog mosta preko Save, izjavio je juče Tanjugu Milutin Mrkonjić, ministar za infrastrukturu u Vladi Srbije. Sada je jedino preostalo da Javno preduzeće „Putevi Srbije” i austrijski „Štrabag”, pobednik na tenderu za obnovu mosta, potpišu ugovor o početku popravke „Gazele”.
Kada i ova prepreka bude otklonjena, majstori će konačno moći da izađu na teren, kaže za „Politiku” Zoran Drobnjak, direktor Javnog preduzeća „Putevi Srbije”. On, međutim, nije želeo da licitira datume, iako iz Ministarstva za infrastrukturu optimistično poručuju da bi popravka mogla da počne već krajem avgusta.
Da se izvođači radova pitaju, obnova „Gazele” počela bi i pre izmeštanja nehigijenskog romskog naselja. Problem je, međutim, jasan uslov Evropske investicione banke – prvo iseljenje Roma, pa početak radova.
– Što se nas tiče, raseljavanje još ne mora da počne, jer pre nego što uopšte priđemo mostu moramo da obavimo mnoge pripremne radove – objašnjava Branko Knežević, direktor „Mostogradnje”, izabrane za podizvođača radova. – Te poslove ćemo obavljati najmanje šest meseci. Posle toga sledi popravka čelične i betonske konstrukcije, a to znači da ćemo morati da skinemo oko 1.000 tona starog čelika i unesemo čak 2.000 tona novog.
Ali, da bi majstori uopšte mogli da priđu mostu, moraju najpre da budu otklonjene sve administrativne zavrzlame. Jedna od njih je više puta najavljivano i odlagano potpisivanje ugovora između „Štrabaga” i „Puteva Srbije”.
– Iz meseca u mesec pomeraju datum potpisivanja ugovora – kaže Dragan Pavelić, direktor „Štrabaga” za Srbiju. – Prema nekim najavama, moguće je da paraf stavimo krajem avgusta ili početkom septembra. To, međutim, ne znači da će glavni radovi odmah početi. Teoretski, moguće je da će u septembru krenuti pripreme, ali će proći dosta vremena dok radnici ne stignu do konstrukcije i kolovoza.
Ipak, i u „Štrabagu” i u „Mostogradnji” uveravaju da su spremni da „Gazelu” preurede po novim evropskim propisima koji regulišu poslove opterećenja. To znači da će most, posle popravke, moći da izdrži sadašnje opterećenje, koje je, inače, višestruko veće od projektovanog. Uprošćeno govoreći, „Gazela” je projektovana da izdrži prolaz 40.000 vozila, ali u praksi preko ovog mosta svakodnevno pređe oko 165.000 automobila, autobusa i kamiona.
Zbog toga stručnjaci već godinama upozoravaju da je „Gazela” u izuzetno teškom stanju i da svako odlaganje početka popravke može da ima nesagledive posledice. Slične opomene gradskim i republičkim vlastima stizale su i iz „Puteva Srbije”, ali popravka nije mogla da počne zbog nedostatka novca.
– Skupština Srbije je tek u jesen prošle godine konačno ratifikovala kredit Evropske investicione banke u iznosu od 33 miliona evra za rehabilitaciju mosta „Gazela” i na taj način je otklonjena jedna od glavnih prepreka za početak radova – objašnjavaju u „Putevima Srbije”.
Iz ovog javnog preduzeća poručuju da je predviđeno da se obnova „Gazele” obavlja u dve faze koje će ukupno trajati 22 meseca. Tako će, u najboljem slučaju, od početka septembra, pa do polovine sledeće godine, majstori popravljati konstrukciju mosta, što znači da neće biti obustave saobraćaja. Obnova kolovozne konstrukcije, kažu, planirana je za 2010. godinu i tada će saobraćaj biti naizmenično obustavljan.
Tender for Belgrade Fair officially declared unsuccessful
The Privatization Agency announced yesterday that the tender for the sale of a 70% stake in Belgrade Fair was not successful. The decision was made because the only bidder for the Belgrade Fair, the consortium composed of Italian Rimini Fair and Belgrade-based Verano Motors, wasn’t ready to increase its original bid (EUR 1.8 million) to EUR 40 million. The consortium also offered an investment programme worth EUR 35 million, which was a minimum requested in the tender documents. The bidder announced earlier that it had not been prepared to raise the offer because it would change the conditions of the tender. The government of Serbia announced that Belgrade Fair is to become a state-owned company for a certain period of time, until there are conditions for its successful privatization.
Government Adopts Program of Measures for petrochemical company Petrohemija
The Serbian government adopted Thursday a program for production renewal in Pancevo-based HIP Petrohemija, Serbia's largest petrochemicals group, that envisages that its production will be resumed as of mid-September, Serbian State Secretary with the Ministry of Economy Nebojsa Ciric stated. The program also includes a loan amounting to RSD 1 billion. “The program dictates a reorganization of job positions and determining of redundant manpower until August 31. About 500 people should leave Petrohemija,” said Ciric. Yesterday, the management board of Pancevo-based Petrohemija elected Sasa Pavlov for the new acting CEO of the factory.
Gazela Bridge Waits for Signature
The action plan for the relocation of the non-hygienic neighborhood located below Gazela bridge has been signed these days and now there are conditions for the beginning of works on the longest bridge on Sava River, stated yesterday for Tanjug news agency the Infrastructure Minister Milutin Mrkonjic. The only thing left to do is for PE Putevi Srbije and Austrian Starbag, the winner of the tender for the reconstruction of the bridge, to sign the agreement on the beginning of works. When this obstacle is removed, workers will finally be able to start working, says for Politika daily Zoran Drobnjak, the GM of Putevi Srbije. However, he refrained from giving any exact dates, although the Ministry for Infrastructure says that the repairs might begin as soon as at the end of August.
Model for Cheap Housing Projects in a Couple of Weeks
Minister of Environment and Spatial Planning Oliver Dulic said Thursday that Serbia had to reestablish the system for mass and non-profit apartment construction, adding that it as one of the most important tasks for the Serbian government. “The state has to re-adopt the subsidized purchase of apartments through loans, but also to redefine subsidizing policy and focus on apartments for young married couples,” said Dulic. He stressed that it wasn’t realistic to expect a square meter to be sold at the price of EUR 400.
Dinar stable in autumn
The dinar rate should be stable in the following months. Even though risks are always possible, they are quite low, according to assessments made by economists and banks.
At the beginning of 2009, the dinar rate was standing at RSD 89.54, and it is standing at RSD 93.16 at the moment. The difficulties might arise regarding the revision of the IMF arrangement, social unrest and political crisis.
Droga Kolinska to Be Bought by Americans or Serbs
Competitors for the purchase of Istrabenz’s company Droga Kolinska are the US company Texas Pacific Group (TPG) and at least one Serbian company, Slovenian Dnevnik daily reports. A Serbian company willing to buy this Slovenian firm would “cooperate with the president of Droga Kolinska management board Slobodan Vucicevic, since he is from Serbia”. Vucicevic already talked to at least two companies from ex-YU territory about selling them a stake in Droga Kolinska, the owner of Serbian companies Grand Prom and Soko Stark. The companies he spoke to are Marbo from BiH and Centroproizvod from Serbia. The president of Istrabenz’s MB Bogdan Topic, who has already visited Belgrade allegedly, said at the beginning of this week that “Droga Kolinska is not for sale”. According to Dnevnik daily “the sale of Droga Kolinska, a key transaction for the repayment of Istrabenz’s financial obligations, will depend both on offer and the will of banks”.
Subsidized loans worth EUR 741.9mn granted
According to the data released by the Serbian Ministry of Economy and Regional Development so far 27,420 subsidized loans were granted within the scope of the Serbian government' measures for harnessing the implications of the global financial crisis, and reached the amount of EUR 741.9 million, Tanjug news agency reports.
By now, there are 36,715 requests for subsidized loans, totaling EUR 1.12 billion. Since the beginning of subsidized loans' approval, there were 7,306 liquidity loans out of total 9,683 requests and they were worth EUR 639.9 million.
Loans for the purchase of cars are at the second place, with 8,708 requests that amount to EUR 59 million and 6,577 granted loans that total EUR 45 million. There were 54 requests for investment credits but only 11 of them were approved and totaled EUR 2.2 million.
Digital archive of Republic Geodesic Institute – contract for software solution design
The Kingdom of Norway is offering support to the Republic Geodesic Institute for financing of development software for digital archive. Contract for software solution design was signed yesterday (August, 19th, 2009) in Belgrade by Helga Onsrud from Statens cartwork – Norwegian department for cartography and cadastre (SK), by Zoran Savic from “TSG Group” and Nenad Tesla from Republic Geodesic Institute (RGZ).
This means that the digital archive will make all paper documents converted into a raster shape which would make research process quicker and easier done, as it was announced by “TSG” company to develop the software.
Once the software is developed, complete analog documentation converted into raster shape will be easily researched.
The use from the new digital archive will have all employees at the Institute, state departments and all private individuals and corporate entities, the users of the Institute who will now be able to complete their obligations by electronic way.
The Kingdom of Norway, has been offering support to Republic Geodesic Institute since 2005, in the department of immovable assets cadastre and at the moment “twinning” project is in the third phase, and it will last by the end of 2009.
“Maersk Line” continues to improve its service – goods from China across Rijeka Port
One of the largest world shipping lines “Maersk Line” has improved its service from China, through its agent for Serbian market “Staragent Plus”. Besides Copper Port and Trieste Port, Rijeka Port is introduced into direct service on the relation Chinese ports – Adriatic ports, as announced by “Staragent Plus”.
This shortens transportation time to Rijeka Port, it also increased security and service regularity, which besides attractive prices is more and more most significant element in client’s decision making in his choice of the shipping company, as it stands in the announcement.
A large number of companies from Serbia have chosen to ship their goods across Rijeka Port, which is logistically the best possible solution for transportation of goods, having in mind the connectivity of this port with destinations in Serbia.
The ships, which make the service, will be starting to sale from August, 2009, to the following relations: Shanghai – Busan – Hong Kong – Chiwan – Tanjung Pelepas – Port Kelang – Port Said – Damietta – Piraeus – Koper – Trieste – Rijeka – Damietta – Port Said – Jeddah – Port Kelang – Singapore – Shanghai.
The first ship to sale on the named relation is plan to start its journey on August, 24th, 2009 from Shangai Port. It will continue its weekly service, with planned trips for August, 31st, September, 7th, September, 14th and so on by the weekly schedule.
“Staragent Plus” as the Serbian agent for the shipmen “Maersk Line”, offers to its clients a possibility of booking and transportation of shipments on the given relations by very competitive prices. Also, it should be taken in consideration traditionally the quality of the service, the security, and the presence in all the ports, which is the guarantee that the goods will arrive in agreed time, undamaged and in accordance to client’s requests, as it stands in the announcement.
Another interesting information – “Maersk Line” ships are the largest ships that ever saled in Rijeka Port, having the capacity of 7.000 TEU and 300 m of length.
“Delta agrar” is expecting 2.500 tones of apples in the fruit yard “Podunavlje”
Agricultural company “Podunavlje” from Celarevo, active within “Delta agrar”, is expecting to have 2.500 tones of apples in this year’s yield on 117 planted hectares, as it was stated by the property’s manager, Nikola Milicevic.
- We have 6 kinds of apples bred on the property, and the biggest harvest of around 50 tones per hectare is expected in “gala” kind and “breburn” kind – stated Mr. Milicevic for the Press on their tour of Celarevo fruit yard.
In this year’s apple harvest they are using a specialized machine with movable tracks which place the apples directly into the boxes, which makes the process twice faster, and expenses are double cut.
Mr. Milicevic explained that in that way the apple only passes through the worker's hands and in such undamaged condition is delivered to the market.
- With the help from our workers about 300 kg of apples are picked in one hour, and in a traditional way of picking it is possible to pick up to 150 kg, said Milicevic.
Slobodan Kosutic, the Manager for categorizing of fruits and vegetables in “Delta agrar” stated that 80% of apple harvest was exported to Russia and EU countries.
According to his words, the apples are placed to the Russian market from their representative office in Moscow, and also they export to Bosnia and Herzegovina, Montenegro, Macedonia, Bulgaria, Croatia and Slovenia.
- Exporting sales price is 45 – 50 cents per kilo, and on domestic market the prices are between 50 and 60 cents, said Mr. Kosutic.
"Delta agrar" will offer support to agriculturists in Serbia in breeding of apples. The company plans to give them the seeds, technology, equipment and a guarantee of purchase of the harvest in the next 15 years, announced Mr. Milicevic.
Project Development Manager in agriculture of "Delta agrar", Milos Zivkovic, stated that they were expecting next year to have on their property first class apple yield of 70 tones per hectares.
"Delta agrar" representatives also announced that Celarevo would have the third apple harvest, and the maximum yield was expected in the 5th year.
- There is a network for anti hail protection, a system against frost and meteorological station in Celarevo fruit yard, while irrigation and nutrition of fruit is done with drop-to-drop system, stated Mr. Zivkovic.
"Podunavlje" property spreads on 2.300 hectares, and it is used for growing of fruit, vegetables, soya, sunflower, wheat, sugar beet and oil seed rape.
Bambi recorded 6% growth in sales
General Manager of “Bambi-Banat” concern from Pozarevac, Miroslav Miletic, stated that the company marked in the first half of 2009 a growth in sale of sweet products for 6% compared to the same period of the last year.
- “Bambi” was successful in the first half of this year and above our planned budget, and this trend was continued in July and in August, said Miletic, adding that the company was very satisfied with made results.
According to his words, a high level of participation has been kept on domestic market, therefore out of overall sale 77% of products is sold on domestic market, which showed consumers’ growth, while 23% of the sale is placed in foreign markets.
- The fact is that in difficult times, people turn to small satisfactions, said Miletic, explaining that even tough the purchasing power dropped, there is a high sales percentage. He also stressed out that the price and products’ quality were still the main reasons this concern showed good business results, despite the crisis.
- At the beginning of this year, we opened a Factory of chocolate in Vrsac and there is a very good response of the market to the new line of our products, Mr. Miletic stated.
“Victoria oil” offered less expensive edible oil from Sid-based ultra modern factory
From today (August, 21st, 2009), consumers from Serbia can buy less expensive sunflower oil manufactured in Sid, and recommended retail price is a little aboe 80 RSD.
Because of the lower price and good quality, “Iskon” oil manufacturer, “Victoria Oil”, is expecting to become a leading exported of sunflower oil to European and regional countries. At the moment, the most modernly equipped plant for manufacture of eatable oil in Europe is located in Sid. Last preparations have been done for today’s festive opening of the factory.
- We are talking about oil manufactured by the latest equipment existing in the world today. Consumers will get a price in the range of the lowest prices on the market today, said “Victoria oil” General Manager, Nikola Vujacic.
“Victoria oil” bought a French technology according to which after processing of sunflower in the preparation product, there is only 1% of oil left. The remains are refined into the oil that contains the same relation of vinegar and non vinegar greasy acids and the same quantities of vitamins E and F that exist in one grain of sunflower. The new oil will be named “Iskon”.
However, what will appeal to consumers of Serbian market is not only excellent quality but the price. Thanks to a significant cut of expenses, manufactured price of “Iskon” oil is only 71 RSD. As claimed by the officials from “Victoria Group”, the reasons for double cut of manufacture price is automatic control and technology.
In a plant which manufactures around 14.000 bottles per hour, there are only 4 people employed.
The factory can manufacture 100 million bottles annually which is the overall need of the Serbian market. That’s why, the company plans to export around 50% of entire manufacture.
- Vitamin E, as well as other components are kept in their natural shape without reverse process. Therefore, their natural contents are being saved in the oil itself, said Vladimir Sarac from the Department of Quality Control.
- It is also very important to mention that this oil will be exported to EU countries and to ex-Yugoslavian region countries. We have already exported Iskon oil to Italy, Switzerland and Austria. It passed all strict controls in those countries and we obtained all necessary licenses, certificates and other, which confirms that the product has the finest quality, said “Victoria oil” General Manager, Nikola Vujacic.
The benefit from this oil will have certainly the consumers, but also underdeveloped Serbian industry and agriculture.
Lissovolik: IMF May Consider Letting Serbia Use Standby Loan to Back Budget
The International Monetary Fund (IMF) may consider allowing Serbia to use part of its current 3.0 billion euro ($4.3 billion) standby loan to back the country's budget - only if exceptional circumstances justify such a step, the global lender said.
“A possible use of IMF money for budget support is not automatic and would require some exceptional circumstances and an agreed framework. This has yet to be discussed for Serbia, although other countries like Hungary and Ukraine have reached agreement to use IMF funds for budget support,” the IMF resident representative in Serbia, Bogdan Lissovolik, told SeeNews in an e-mailed interview.
An IMF mission is scheduled to arrive in Belgrade on August 24 for the second review of the country's performance under the two-year stand-by funding arrangement signed in March. The mission will be doing its job amidst widespread protests over unpaid wages and clashing viewpoints within the coalition government on the narrowing of the budget gap, now equivalent to some 4.5% of the projected gross domestic product (GDP), up from 3.0% initially approved by the IMF for the end of the year.
Economy Minister Mladjan Dinkic said earlier this month he will not support a rise in value added tax (VAT) and personal income tax as means of narrowing the budget gap because higher taxes would further depress consumer demand amidst the economic downturn and will heavily weigh on the middle class in Serbia.
Finance Minister Diana Dragutinovic said she stood by her proposal to raise to 20% the income for monthly salaries higher than 40,000 dinars ($611/429 euro) and cut to 10% the tax on salaries lower than that in a bid to cut the budget deficit. She also didn’t dismiss the possibility of raising VAT. Serbia’s personal income tax rate now stands at 12%, while VAT is 18%.
Lissovolik said that the IMF mission will seek “balanced and credible measures that take account of recent developments, and are aimed at credibly securing fiscal sustainability.”
“We feel there is substantial potential in curbing spending through rationalization and reform," he said, adding that "rationalization should preferably concern all areas of public spending, but especially pensions, wage bill, health care, education, and subsidies.”
“Such measures, based on well-designed efficiency improvements, would replace ad-hoc steps such as nominal freezes, on which fiscal adjustment in Serbia has largely relied to date.”
Lissovolik also said the IMF is currently updating its macroeconomic projections for Serbia and the Fund's 2009 GDP forecast is worse than the initially projected 2.0% fall in Serbian GDP.
Serbia’s GDP will contract by close to 5.0% in the second quarter, while a modest growth is expected in the third quarter, central bank Governor Radovan Jelasic said last month. The country's economy contracted by a real 3.5% on the year in the first quarter of 2009 after growing by a revised annual 8.5% a year earlier. Serbia’s GDP slowed its growth to a real 5.4% in 2008 from 6.9% in 2007.
“The output weakness has hurt revenues, so our projection of the fiscal deficit has worsened compared to what was assumed in the program,” he said.
But despite gloomy aspects going forward, Lissovolik said worries over the short-term financial situation have somewhat receded.
“The financial sector is holding up, reflecting good capital and liquidity buffers, while the balance of payments net inflows and reserves have been better than expected. But risks in these areas of course should be monitored.”
He pointed out that the biggest short-term challenges for Serbia are concentrated in the fiscal area, with further progress needed in tax administration and compliance, expenditure control at all government levels, and debt management.
“More fundamentally, now is the crucial time to carry out longer-term reforms both in public expenditure, as discussed above, and the broader economy (such as further steps to strengthen competition and the business environment and reform the overextended public enterprise sector),” he said, adding that many of these reforms had been repeatedly delayed but would be key to generating the much needed growth in economic activity and exports.
“These reforms should create the fiscal space for additional high-quality infrastructure spending, which is a further major challenge. We hope that the coalition would be united and agree on the best decision possible in the interest of Serbia,” he said.
Treasury Sells 5.0 Bln Dinars (53.7 Mln Euro) in 6-mo T-bills
Serbia’s Finance Ministry said on Thursday it sold out a 5.0 billion dinar ($76.4 million/53.7 million euro) offer of six-month Treasury bills.
The average accepted price in the auction was equal to 94.21% of par and the accepted interest rate was 12.15%, the ministry said in a statement on its website.
The ministry sold 500,000 T-bills with a nominal value of 10,000 dinars each, it added. The government securities will mature on February 18.
In the previous auction of six-month T-bills held on August 13 the ministry sold out 3.0 billion dinars worth of government securities at an annual interest rate of 12.19%.
Serbia holds scheduled auctions of six-month T-bills every week on Thursdays and of three-month T-bills on Tuesdays. The next auctions of three-month and six-month T-bills will be held on August 25 and August 27, respectively.
China and Serbia Boost Strategic Partnership
Serbian President Boris Tadic and Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic took part in the Serbian-Chinese trade and investment forum in Beijing yesterday.
Dinkic, who is part of a five-day visit to China led by Tadic, signed with Chinese Minister of Commerce Chen Deming an agreement on economic and technological cooperation for infrastructure projects in Serbia.
Dinkic stated that one loan will be approved to build a Zemun-Borca bridge noting that the project will be worth up to €200 million.
The Chinese Commerce Ministry will subsidise this loan, which will be approved under most favourable terms for Serbia, he said.
Dinkic explained that the loan by Export-Import Bank of China will have a 15 year repayment period and a 5 year grace period, with the maximum interest rate below 3% per year.
We also discussed other infrastructure projects in Serbia as our ambitions is to carry out other regional projects, including the Kragujevac ring road, a tunnel through Fruska Gora and to connect Prokuplje and Sabac with Corridor 10, he said.
China has become the biggest creditor in the world and only 30 years ago it was the country that was taking loans most, Dinkic said.
Traditional friendship of Serbia and China has been reaffirmed and the two delegations expressed readiness to intensify cooperation through building strategic partnership.
Tadic, who was welcomed in Beijing by Chinese President Hu Jintao, said that intensification of cooperation with China in all areas has become one of the pillars of Serbian foreign policy.
The two presidents reaffirmed there are no open issues between Serbia and China and that respecting countries' territorial integrity is of utmost importance for future relations.
Serbia supports one-China policy whereas Chinese officials confirmed China respects Serbia's sovereignty and territorial integrity.
Tadic and Jintao agreed to create a strategic partnership, especially in economy.
Beijing is the fourth pillar of Serbian foreign policy, along with Brussels, Washington and Moscow, Tadic stated.
We suggest building a new modern port on the Danube and free customs zone for Chinese companies, Tadic said.
Chinese investors have great opportunities in Serbia thanks to the country's good geographic position and the fact that road and waterway corridors go through, along with a number of free trade deals allowing for the sale of goods from Serbia to markets with 800 million consumers.,
Serbia will be a big construction site in the upcoming period, said Tadic noting that the Serbian government is inviting Chinese companies invest in infrastructure in the amount of €1 billion.
The Serbian delegation also comprises Minister of Foreign Affairs Vuk Jeremic, who met with his Chinese counterpart Yang Jiechi.