Minister Djelic announced the reimbursment of the debt from the Loan for the economic Rebirth of Serbia

The minister of Finance and Economy in the Government of the Republic of Serbia, Mr. Bozidar Djelic announced that by the end of July, the Serbian Parliament should adopt a Law on the Servicing of the debt obligations towards the citizens contracted on the basis of the Loan for the economic rebirth of Serbia, in a total amount of approximately 50 million dollars.

On the occasion of round-table debate «Legal framework for the capital market functioning in Serbia», Minister Djelic said that if the Serbian Parliament adopts the law on the said debt servicing towards the citizens, the State should be able to carry out out the whole reimbursment project – partly in cash, while the other part should represent Public issued bonds with a four years maturity date.

For the end of the month, the Minister also announced that the National bank of Serbia together with the Ministry of Finance and Economy, should soon create a Strategic Council for the establishement and the supervision of short-term valuable papers issuing programs.

Mr. Djelic emphasized the essential importance for the development of the capital market in Serbia, of the Laws on valuable papers market, on the accounting proceeding and auditing, as well as the law and other legal regulations that resulted in the servicing of the debt of the citizens’ old foreign currency savings deposits, and necessary modifications and reforms of the fiscal regulations – such as the suspension of the tax on financial transactions and the avoiding of a «double-way» taxation.

Mr. Djelic explained that the laws on insurance services, on economic societies, on mortgage, on investment funds, and on the Serbian corporation for the housing credits insurance, are currently being in the preparation process.