Capital market perspectives in Serbia

On the occasion of the round-table debate held yesterday, on the subject of capital market perspectives in Serbia – organized by the Belgrade „Economist“ magazine, the Serbian Finance Minister, Mr. Bozidar Djelic declared that there were cases of money laundering in the process of trading with the old foreign currency savings deposits, and also added that the details on these cases would be made public within days.

Speaking of the capital market in Serbia, Minister Djelic said that one should really be malicious, so as to remark that the capital market had made nay development during the past two and a half years. The Minister compared the presently experienced problems to „children’s diseases“, stating the example of trading the stocks of the Apatin brewery, but also the trading of bonds – still insufficiently developed on the stock exchange.

Reminding that 69 of 116 minority capital shares of Serbian companies – which were owned by the Stock Found – have already been carried out successfully, which brought cca. 87 million Euros of profit to the State, Mr. Aleksandar Vlahovic, Serbian Minister of Economy and Privatization, emphasized the low level of interest for the companies shares, as well as the fact that low-potential investors – i.e. citizens with their foreign currency savings – are not sufficiently involved in the trading process. Minister Vlahovic also added that a series of system laws, aimed at reviving the capital market, should soon be adopted.