Trade turnover between Russia and Yugoslavia amounted to 1 October 2001. 500 million dollars, in general, according to experts, it could exceed 550 million dollars for the year. These data were announced in Belgrade on the eve of the next meeting of the bilateral intergovernmental commission on trade, economic, scientific and technical cooperation, which will be held in Moscow.

Currently, Russia has a positive balance in trade with the FRY, which according to the results of 7 months of 2001. amounted to $346.76 million. 90% of Russian exports to Yugoslavia are supplies of natural gas and oil. The share of Russian energy resources in ensuring the energy balance of Yugoslavia is about 70%, since it has its own oil fields in Vojvodina.

According to Yugoslav experts, the current imbalance in mutual trade between the two countries is explained by the fact that the economic potential of the FRY was seriously undermined by NATO bombing in 1999. and announced since 1992. international sanctions. Currently, industrial production in this country is 40% of the 1998 level. and 20% of the 1991 level.

At the upcoming meeting of the bilateral intergovernmental commission in Moscow, the Yugoslav side intends to initiate an extension for 2002. operation of the credit line provided by Russia to Yugoslavia in 1997. in the amount of 150 million dollars.

According to the agreement between Gazprom and the Yugoslav government, 35% of natural gas supplies were to be paid for in cash, and the rest in goods. However, this agreement has not yet been implemented to the extent that would satisfy both parties.

In addition, within the framework of this issue, the topic of Yugoslavia’s debt for previously supplied natural gas in the amount of about $300 million may be raised, taking into account the fact that Russia has a clearing debt to the FRY of $1.5 billion.

The negotiations will also discuss the participation of Russian companies in tenders for the modernization and restoration of industrial facilities damaged during the bombing in Yugoslavia. The official authorities of the FRY emphasize that they intend to maintain the principle of equal treatment of all participants in such competitions, but they are very positive about the interest of Russian partners.

Restructuring of external debt is one of the key economic problems of Yugoslavia. This will primarily be discussed at the upcoming negotiations between the government of the FRY on November 12 in Belgrade with the delegation of the Paris Club of Creditors, whose debt today, according to the Yugoslav Ministry of Finance, is $4.58 billion (debt to the London Club of Creditors - 2.8 billion Doll.). At the upcoming negotiations, the Yugoslav side intends to talk about writing off the debt by two-thirds and restructuring the remaining part for 5 years.

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According to experts, in the event of a positive decision, this will give impetus to the development of the economy of Yugoslavia, whose industrial potential was practically destroyed by NATO bombing in the spring of 1999, which lasted 78 days. The total external debt of Yugoslavia is currently 12.6 billion dollars, which is equal to 145% of the annual GDP of the FRY, which in 2001 was equivalent to approximately $10 billion. At the same time, the country’s gold and foreign exchange reserves do not exceed $1 billion, and foreign exchange earnings from exports to the federal budget in the last two years have not exceeded $2 billion.

Local economists note that repaying the external debt is of fundamental importance for Yugoslavia, since in the event of a negative outcome of the negotiations, it will be forced to annually allocate about $700 million for its servicing and repayment.

The argument that Yugoslavia can be classified as one of the poorest countries in the world, which, in accordance with international agreements, can qualify for preferential terms for debt write-off, according to a number of influential experts, may “fail.” To do this, in accordance with the rules adopted by the Paris Club, the country's per capita GDP should not exceed $750, and according to Serbian Prime Minister Zoran Djindjic, each Yugoslav now accounts for about $1,100 of total GDP.

Therefore, experts say, the “Bosnia and Herzegovina option,” which had two-thirds of its debts written off, is unlikely. Belgrade notes that the upcoming negotiations with the Paris Club are of particular importance, especially due to the fact that even in the most favorable scenario, it will take 10 to 20 years for Yugoslavia to return to the pre-war level of economic development.

Trade turnover between the Russian Federation and Yugoslavia in 2001 amounted to $500 million.