Q:
A:
Government has clear plan for surmounting economic setbacks
Belgrade,
20 September 2012
Minister of Finance and Economy Mladjan Dinkic today stated that the government has a clear plan for resolving large economic problems which implies savings in public finances as well as measures to stimulate production.
Elaborating on the proposed budget revision for 2012 and amendments to financial laws at the Serbian parliament, Dinkic said that Serbia currently has the so-called double deficit, namely both high inflation and recession.
The Minister noted that this situation cannot be overcome by unilateral measures, but by combined savings in the public sector, aimed at decreasing the public debt, and by encouraging economic growth.
He noted that the budget revision and the set of measures for stabilising public finances will help to bring the budget deficit from 7.1% of GDP (RSD 235 billion) to 6.2%.
Dinkic observed that the revision envisages a RSD 203 billion deficit, adding that a new methodology was applied, which encompassed individual incomes of ministries and other government bodies.
The Minister announced plans to reform the labour market and the entire public sector, discourage early retirement, improve industrial policy, invest in agriculture, the food industry, energy and infrastructure, the defense industry and mining.
He noted that the industrial policy is adequate, but that there is room for further improvement, announcing increases in budget funds for agriculture, stimulating domestic SMEs and continuation of efforts to attract more multinational companies.
Dinkic remarked that within a month Serbian MPs will be delivered a proposal for 2013 budget which envisages a reduction of the deficit to 3.5% of GDP.
The Minister noted that this situation cannot be overcome by unilateral measures, but by combined savings in the public sector, aimed at decreasing the public debt, and by encouraging economic growth.
He noted that the budget revision and the set of measures for stabilising public finances will help to bring the budget deficit from 7.1% of GDP (RSD 235 billion) to 6.2%.
Dinkic observed that the revision envisages a RSD 203 billion deficit, adding that a new methodology was applied, which encompassed individual incomes of ministries and other government bodies.
The Minister announced plans to reform the labour market and the entire public sector, discourage early retirement, improve industrial policy, invest in agriculture, the food industry, energy and infrastructure, the defense industry and mining.
He noted that the industrial policy is adequate, but that there is room for further improvement, announcing increases in budget funds for agriculture, stimulating domestic SMEs and continuation of efforts to attract more multinational companies.
Dinkic remarked that within a month Serbian MPs will be delivered a proposal for 2013 budget which envisages a reduction of the deficit to 3.5% of GDP.
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