BELGRADE Oct 17 The United Arab Emirates will
lend Serbia $1 billion to help the indebted Balkan country
refinance its existing debts and to help it finance its ongoing
budget deficit, Serbian Finance Minister Dusan Vujovic said on
Speaking at a conference in Belgrade, Vujovic said the
10-year loan would bear an interest rate of 2.25 percent and be
ratified by parliament "in coming days".
Serbia's economy has performed strongly this year, with its
budget deficit forecast to come in at 2.5 percent of GDP this
year, lower than the 4 percent planned for. Serbia has been
pushing for the International Monetary Fund, with which it has
a$1.2 billion loan deal, to authorise higher spending next year.
(Reporting By Ivana Sekularac, writing by Thomas Escritt;
Editing by Toby Chopra)