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21. August 2002 |
Government to fund small business enterprises
BELGRADE – The Serbian Government is to step up assistance for redundant workers by providing funding for the establishment of small and medium-sized enterprises.
Privatisation Minister Aleksandar Vlahovic said today that a fund would be established to underwrite loans by commercial banks to new enterprises.
Only 64,000 small and medium sized enterprises were operating in Serbia last year, out of a total of 185,000 registered, he said.
The minister put the discrepancy down to businesses registered in the last days of the old Yugoslavia which ceased to operate when the country and its economy fell apart.
Forty-three per cent of the Serbian workforce is employed in small and medium-sized businesses, said Vlahovic.
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