Q:
A:
Reforms significantly improve Serbia’s fiscal position
Belgrade/Vienna,
21 January 2015
Minister of Finance Dusan Vujovic said at the Euromoney conference taking place in Vienna that Serbia has since mid-2014 improved its fiscal position and reduced deficit in GDP.
Author:
Tanjug
Vujovic said that best improvements are expected in 2016, noting that the government’s aim is to find an ideal combination of fiscal and monetary policy.
He pointed out that according to the National Bank of Serbia (NBS), inflation should be set at about 2.5%.
According to World Bank projections, Serbia will see a 0.5% drop in GDP in 2015, with a positive growth trend expected in 2016, he noted.
Serbia has to attract foreign investors and boost the creation of productive jobs, and it has to build and modernise its infrastructure in order to move closer to the European market, said Vujovic.
Vujovic specified that the fiscal consolidation measures included cuts in pensions and public sector salaries, adding that 512 companies are to be privatized and that 188 companies employing around 5,000 people will most likely go into bankruptcy.
He pointed out that according to the National Bank of Serbia (NBS), inflation should be set at about 2.5%.
According to World Bank projections, Serbia will see a 0.5% drop in GDP in 2015, with a positive growth trend expected in 2016, he noted.
Serbia has to attract foreign investors and boost the creation of productive jobs, and it has to build and modernise its infrastructure in order to move closer to the European market, said Vujovic.
Vujovic specified that the fiscal consolidation measures included cuts in pensions and public sector salaries, adding that 512 companies are to be privatized and that 188 companies employing around 5,000 people will most likely go into bankruptcy.
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