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25. April 2002 |
Yugoslavia’s GNP to grow by 4 or more percent in 2002 - IMF
BELGRADE - According to IMF assessments, Yugoslavia's GNP will rise
by 4 percent in 2002, and if its agriculture achieves good results the
Yugoslav GNP may increase by more than 5 percent, IMF resident representative
in Belgrade Joshua Charap said on Wednesday.
The costs of bank and enterprise restructuring account for 45 percent
of the GNP, but a drop is expected in the next period, Charap said at
an international conference on investments in Serbia and added that
this deficit would be financed from loans and would be limited to 1
percent of the GNP.
Head of the World Bank's Belgrade Office Rory O'Sullivan said that Yugoslavia
was starving for investments and that the World Bank would create favorable
conditions for foreign investments in the coming period.
Therefore, the World Bank plans to support Yugoslavia's reforms with
an annual 180-million-dollar loan, more than 80 million of which would
be directed to the budget, O'Sullivan said.
European Bank for Reconstruction and Development Director Henry Russell
described as very important the fact that the Yugoslav national currency
was stable and that partners could invest and operate in a stable environment.
Russell believes that a high level of education and low labor costs
will attract foreign investments, since the working environment is very
well organized.
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