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FINANCIAL NEWS
UAE to lend Serbia USD1bn worth loan
18 Oct 2016
(MENAFN) The UAE will lend Serbia USD1bn to help the indebted Balkan country funding its recent debts and to help it finance its budget deficit.
Accordingly, the 10-year loan would bear an interest rate of 2.25 percent and be approved by parliament in the coming days.
Moreover, Serbia’s economy has been positive this year, with its budget deficit to come in at 2.5 percent of GDP, lower than the 4pct planned for.
Serbia has been pushing for the IMF, with which it has USD1.2bn loan agreement to authorize higher spending in 2017.
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