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The Government of the Republic of Serbia

In the service of citizens

Fiscal policy measures to mitigate effects of economic crisis

Belgrade, 9 January 2012

Prime Minister Mirko Cvetkovic today said that despite slight signs of recovery, 2012 will be equally difficult primarily because of the impact of the economic crisis.

In an interview to Fonet news agency, Cvetkovic stressed that even if the GDP growth rate of 1.5% is achieved, it will not be sufficient to secure more jobs or enable a considerable boost in citizens’ standard.

He reiterated that this year’s budget deficit of 4.25% is one of the several fiscal policy measures aimed at mitigating the economic crisis.

Cvetkovic noted there are indications that certain investments will be activated this year, recalling that in 2011 Serbia had a $2 billion FDI inflow.

The Prime Minister voiced his hope that Serbia will be granted EU candidate status in March and that the issue of Kosovo-Metohija will be resolved before Serbia’s EU membership.

It is important that the government finishes its mandate regularly because a signal of political stability will thus be sent, he said, adding that the government will continue to realise its programme until the end of the mandate.

Cvetkovic reiterated that a basis for the solution to the issue of Pristina’s regional representation is UN Security Council Resolution 1244 and announced a continuation of dialogue between Belgrade and Pristina.