The foreign exchange reserves of the country are sufficient to purchase the Oil Industry of Serbia (NIS), according to the National Bank of Serbia (NBS).
In response to a journalist’s question about whether there is enough money to buy NIS, if that option were to be considered as a solution for the company, NBS Deputy Governor Nikola Dragašević stated that the foreign exchange reserves amount to 29.3 billion euros, which is more than enough to meet any financial need of the state. Deputy Governor Željko Jović emphasized that the NBS can only answer this question in terms of the adequacy of funds, and that the entire foreign exchange reserves could not be used for the purchase of NIS or anything else.
“Foreign exchange reserves are independent, and only the portion equal to the state’s account balance can be used. However, this is more than enough. No matter how valuable we estimate NIS to be, there are sufficient funds from that part of the foreign exchange reserves—i.e., the state’s share, not the independent part of the reserves—that can facilitate such a transaction,” Jović explained, as reported by Tanjug.
