Q:
A:
Latest government’s measures to provide economic stability in the long run
Belgrade,
11 April 2009
In an interview with the Vecernje Novosti daily, Minister of Finance Diana Dragutinovic stated that the latest government’s package of measures for economic stability will help decrease public spending.
Author:
www.novosti.rs
The Minister voiced her satisfaction over the new measures for surmounting the crisis, adding that although they are unpopular among Serbian citizens, they will provide economic stability in the long run.
According to Dragutinovic, if something goes wrong with budget income, there is also the possibility of new savings measures being adopted.
She pointed out that she strongly opposed measures which would exclude the judiciary, health and education systems, police and the army, noting that everyone being employed by the state should share the same fate.
The Minister added that an increase in VAT would be the last solution to the crisis.
Dragutinovic explained that this plan will be revised every three months by the government and the IMF, adding that the first analysis will be carried out in late July or early August. If the situation gets better, the government may start implementing new fiscal policy, but we still expect this package of measures to be valid by the end of this year.
The government’s measures are non-inflanatory, except when it comes to an excise duty increase, said Dragutinovic, adding that on the other hand there will be a decrease in prices due to reduced economic activity.
Dragutinovic concluded that inflation in 2009 will not be higher than 6% to 8%, noting that the measures will provide stability for the dinar exchange rate.
According to Dragutinovic, if something goes wrong with budget income, there is also the possibility of new savings measures being adopted.
She pointed out that she strongly opposed measures which would exclude the judiciary, health and education systems, police and the army, noting that everyone being employed by the state should share the same fate.
The Minister added that an increase in VAT would be the last solution to the crisis.
Dragutinovic explained that this plan will be revised every three months by the government and the IMF, adding that the first analysis will be carried out in late July or early August. If the situation gets better, the government may start implementing new fiscal policy, but we still expect this package of measures to be valid by the end of this year.
The government’s measures are non-inflanatory, except when it comes to an excise duty increase, said Dragutinovic, adding that on the other hand there will be a decrease in prices due to reduced economic activity.
Dragutinovic concluded that inflation in 2009 will not be higher than 6% to 8%, noting that the measures will provide stability for the dinar exchange rate.
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