Q:
A:
Principles set by budget, new fiscal rules
Belgrade,
24 February 2011
Prime Minister Mirko Cvetkovic said that the Serbian government will not abandon the main principles laid down in the budget and new fiscal rules.
File photo of Mirko Cvetkovic
Author:
Tanjug
Cvetkovic said in an interview with the magazine "Ekonomist" that the negotiations with the unions must not lead to an increase in the deficit above 4.1%of GDP.
He warned that the government will not allow the unrealistic demands undermine the system and threaten macroeconomic stability.
He explained that the rates of salary increase are determined based on anticipated correction in January by 2%, in April by a three-month inflation and in October by a six-month price increase and half of GDP growth in 2010.
We may add some additional increase to that only if the flow of money in the budget is higher than planned, said the Serbian Prime Minister.
If we can achieve GDP growth higher than projected, then we can expect wages to be increased, but in this case, the deficit must not exceed 4.1% of GDP.
He announced that in the upcoming business forum to be held in early March in Kopaonik, the basic message will be that it is necessary to achieve unity in post-crisis period in order to stabilise the country and accelerate its path to Europe.
Economic measures can solve unemployment, which is our top priority problem, concluded the Prime Minister.
He warned that the government will not allow the unrealistic demands undermine the system and threaten macroeconomic stability.
He explained that the rates of salary increase are determined based on anticipated correction in January by 2%, in April by a three-month inflation and in October by a six-month price increase and half of GDP growth in 2010.
We may add some additional increase to that only if the flow of money in the budget is higher than planned, said the Serbian Prime Minister.
If we can achieve GDP growth higher than projected, then we can expect wages to be increased, but in this case, the deficit must not exceed 4.1% of GDP.
He announced that in the upcoming business forum to be held in early March in Kopaonik, the basic message will be that it is necessary to achieve unity in post-crisis period in order to stabilise the country and accelerate its path to Europe.
Economic measures can solve unemployment, which is our top priority problem, concluded the Prime Minister.
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