March 12, 2020 / 10:38 AM / 23 days ago

Serbia allocates 204 million euros to offset damage from coronavirus - PM

BELGRADE, March 12 (Reuters) - The Serbian government allocated 24 billion Serbian dinar ($229.4 million or 204.2 million euros) from its budget for infrastructure development to offset economic damage from coronavirus outbreak, Prime Minister Ana Brnabic said on Thursday.

The move is a part of a concerted effort, which includes a central bank decision to cut the benchmark rate by 50 basis points to 1.75%.

“We have (infrastructure) projects ready, we are ready to start working,” Brnabic told a news conference.

According to the International Monetary Fund, the central bank and the government, Serbia’s GDP is expected to grow at around 4% in 2020. President Aleksandar Vucic has repeatedly warned that growth could be damaged by the coronavirus pandemic.

(1 euro = 117.5196 Serbian dinars)

$1 = 104.6200 Serbian dinars Reporting by Aleksandar Vasovic; Editing by

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