Serbia signed a Russian loan and an Abu Dhabi investment pledge worth more than $1 billion to the Balkan country as it seeks to support construction and agriculture, the two worst-performing industries in 2012.
Farming output fell more than 17 percent and construction activity declined 9.9 percent in the third quarter of 2012, helping push gross domestic product down an estimated 2 percent. The five-month-old Cabinet of Prime Minister Ivica Dacic is trying to attract industrial investments, bolster growth and add jobs at a time when one in five is out of work.
The investments will “contribute to accelerating economic growth and significant improvement of Serbia’s foreign trade balance,” Finance Minister Mladjan Dinkic’s press office said in a Jan. 13 statement.
Serbia Signs Russia Loan, Abu Dhabi Investment for Growth - Bloomberg
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