Belgrade: Turkish lira fall won’t affect plans in Serbia

Belgrade: Turkish lira fall won’t affect plans in Serbia

Belgrade: Turkish lira fall won’t affect plans in Serbia Izvor: N1

Serbia’s Trade Minister said on Wednesday that top Turkish officials assured Belgrade that the fall in their lira currency would not affect the joint ventures and that the works on infrastructural projects would continue, the Beta news agency reported.

Rasim Ljajic told Prva TV that the decline in lira’s value could influence Turkish investments and the realisation of already signed contracts with Serbia.

“The situation is serious, and we will see what effects it will have on attracting (future) Turkish investors, but we have assurances from the country's authorities that all investments that we have contracts and plans for will not be jeopardised,” Ljajic said.

However, some experts warned that the recently imposed US sanctions against Turkey and the fall in lira’s value would have consequences for Serbia as well and that the announced Turkish investments were now uncertain.

Radojka Nikolic, the editor of the Ekonometar magazine, said that the export of beef meat, oil and other commodities, as well as the construction of Belgrade - Sarajevo motorway could suffer because of the current state of the Turkish economy.

Last week, the lira last traded around 6.9 against the US dollar, after earlier dropping to a fresh all-time low of 7.24.

It has slightly recovered since.

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