Q:
A:
Main austerity measures to be presented on 18 September
Belgrade,
16 September 2014
Minister of Finance Dusan Vujovic stated today that by 2017 Serbia should reduce the budget deficit from €2.5 billion to €1 billion, and announced that the budget revision for this year, which will include key austerity measures, will be presented on 18 September.
Author:
Tanjug
Speaking at a roundtable organised by weekly NIN "Budget revision and excise goods”, Vujovic said the Serbian government is currently working on making estimates of the necessary savings and its distribution.
He pointed out that the necessary changes would take three years, noting that solvency is sufficient, but it is necessary to act immediately so as not to get into the situation where creditors dictate us what to do.
According to him, the austerity measures in the draft budget for 2015 will be placed on four pillars.
These are the reduction of the grey economy, improvement of the fiscal system, reorganisation of the tax administration and the increase in the efficiency of public enterprises.
The Minister said that the state will no longer provide subsidies to farmers who have more than a hundred acres of land or take land on lease.
He confirmed that there is great interest in the purchase of companies that are in restructuring, and expressed hope that there will be enough interested parties so that companies from the 502 group which have a good outlook could continue to operate.
He pointed out that the necessary changes would take three years, noting that solvency is sufficient, but it is necessary to act immediately so as not to get into the situation where creditors dictate us what to do.
According to him, the austerity measures in the draft budget for 2015 will be placed on four pillars.
These are the reduction of the grey economy, improvement of the fiscal system, reorganisation of the tax administration and the increase in the efficiency of public enterprises.
The Minister said that the state will no longer provide subsidies to farmers who have more than a hundred acres of land or take land on lease.
He confirmed that there is great interest in the purchase of companies that are in restructuring, and expressed hope that there will be enough interested parties so that companies from the 502 group which have a good outlook could continue to operate.
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