Direct foreign investments worth 100m EUR in Novi Sad prior to end of year?

(Novi Sad)

Mayor of Novi Sad, Igor Pavličić, has announced that the foreigners will invest 100m EUR in that city prior to the end of the year, which will significantly contribute to economic development of the capital city of Vojvodina.

- The main task of the new authorities in Novi Sad is creation of suitable political ambient and revival of international cooperation - he specified in the interview for Novi Sad's newspaper "Dnevnik".

According to his words, major share of these investments will be realized on the territory of the Kać cloverleaf and, as far as local sources of finance are concerned, the funds will be directed to, first of all, two bridges across the Danube, construction of tunnel through Fruška Gora, completion of the bypass around Novi Sad and resolving of the problem of city dump.

One of larger problems inherited from the previous city administration is lack of money in the budgets of public utility companies, that is, surplus manpower in them.

- The debts of public companies amounted to 4.3 billion RSD at the end of July, which is nearly one third of total budget. So far, about 70% of budget is spent on covering these deficits and subventions in public companies, while 30% is spent on investments. The intention of new city administration is to change that ratio - Pavličić concluded.