Serbia delays sale of state-run companies until after election


Serbia will delay the sale of state-run companies including the Naftna Industrija Srbije (NIS), the country's largest petroleum producer and distributor, until after general elections that may be held in December. Sales „including the privatization of the NIS will be halted,” Serbian Finance Minister Mladjan Dinkic said yesterday on Belgrade's private Radio B92. „The break is a temporary one, particularly because of a constitutional referendum and election campaign.” The election will follow the October 28-29 referendum on a new Serbian constitution, which was approved by parliament earlier this month. The country must change its charter and hold general elections as a result of its peaceful breakup with Montenegro in May. A date for the election hasn't been set.

The sale of NIS was a condition set by the International Monetary Fund for backing Serbia's transition to a market economy after decades of communism, wars and international isolation under former President Slobodan Milosevic. Dinkic said he was convinced the new Serbian government „will be able to complete the privatization” because the strategy for such a move is already in place. Earlier this year, Serbia named a group led by Merrill Lynch & Co. and Raiffeisen Investment to help in the NIS sale. This month, the Serbian Agency for Privatization launched a tender aimed at selling 25% of the oil producer. Several international companies have expressed interest in taking a stake in NIS, including Hungary's Mol Nyrt, OMV AG of Austria and Hellenic Petroleum SA of Greece. (Bloomberg)


Budapest Named 5th Best City in Europe for Bargain Lovers Analysis

Budapest Named 5th Best City in Europe for Bargain Lovers

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

Muni Council Organizing Meeting to Improve Air Quality City

Muni Council Organizing Meeting to Improve Air Quality


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.