ANNOUNCEMENT 22 Mar 2013In March 2013, the government of Serbia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Government of Serbia (2013) "
On 22 March 2013, the Republic of Serbia signed a Protocol on Mutual Relations with Fiat automobili Srbija. According to the Protocol, the Serbian Government will advance Fiat with a state aid worth EUR 14 million.
The imposed conditions include the employment of Serbian nationals. Furthermore, the new car model 'Nacionale 500L' shall be sold on the domestic market with a dicount of EUR 3000 compared to the internaitonal list price. Finally, Fiat's banking arm shall offer to Serbian buyers financing for the purchase of said vehicle with interest not exceeding a 3% annual rate.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.