inSerbia: Financing Of The South Stream Not Endangered – Skundric

The financing of the South Stream gas pipeline project through Serbia is not endangered by the government’s austerity measures, Petar Skundric, energy advisor to the Prime Minister, stated on Monday.

The austerity measures in public finances will not harm the realization of this energy project, Skundric said.

“The Serbian side has secured what was necessary for the start of works on the South Stream gas pipeline, and the total financing and the financial construction will be determined in an agreement with the general manager of the project – Gazprom,” Skundric told reporters at a celebration marking 60 years of existence of Elektroremont factory in Subotica, northern Serbia.

He said that the economic measures which the government announced comprise the entire public sector, adding that they are the only way to consolidate public finances that is to create conditions for development.  MORE