Serbia to Spend $380 Million on Transport Infrastructure in 2011

Serbia will require to spend 30 billion dinars ($380 million) next year improving its underdeveloped transport infrastructure, an “essential condition” for more foreign investment and economic growth, said Verica Kalanovic, minister for the country’s national investment plan.

She said that the amount shouldn’t undermine the government’s plan to narrow its plan deficit to 4 percent of gross domestic product, as agreed with the International Monetary Fund.

The ministry plans to co-finance hundreds of projects proposed by other ministries and local governments totaling more than $1.4 billion, Kalanovic said.