Q:
A:
Budget revision by 15 September
Belgrade,
25 July 2014
Minister of Economy and Acting Minister of Finance Dusan Vujovic announced today that a bill on budget revision will be submitted to the Serbian Parliament by 15 September at the latest and that it will be adopted the same week.
Author:
Tanjug
Speaking at a press conference at the Serbian Association of Economists, after a meeting of Prime Minister Aleksandar Vucic with economists, businessmen and bankers, Vujovic said that the plan is that all parameters of the budget revision be agreed with all ministries and the International Monetary Fund by 11 August.
He underlined that it is important to provide sufficient funds through budget revision for implementation of structural measures, i.e. for social welfare programmes, continuation of the policy of subsidies and for attraction of new investors.
The Minister stated that the budget revision is the first step in the overall fiscal consolidation, and reiterated that the Serbian government will try not to reduce salaries and pensions by more than 10%.
Vujovic said that the details of this cut and other economic measures will be known after the completion of the budget revision, noting that only a fraction of the costs will be transferred to salaries and pensions since the measures will be primarily aimed at reducing grey economy, first and foremost cigarette smuggling.
He underlined that it is important to provide sufficient funds through budget revision for implementation of structural measures, i.e. for social welfare programmes, continuation of the policy of subsidies and for attraction of new investors.
The Minister stated that the budget revision is the first step in the overall fiscal consolidation, and reiterated that the Serbian government will try not to reduce salaries and pensions by more than 10%.
Vujovic said that the details of this cut and other economic measures will be known after the completion of the budget revision, noting that only a fraction of the costs will be transferred to salaries and pensions since the measures will be primarily aimed at reducing grey economy, first and foremost cigarette smuggling.
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