"No danger of bankruptcy"

The government has prepared a package of measures for cutting its own expenses and making big savings, Economy Minister Mlađan Dinkić told daily Novosti.

Izvor: Veèernje novosti

Wednesday, 25.03.2009.

11:41

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The government has prepared a package of measures for cutting its own expenses and making big savings, Economy Minister Mladjan Dinkic told daily Novosti. Dinkic said that all public sector salaries would be frozen, saving some EUR 130mn in the process. "No danger of bankruptcy" Subsidies to cities and local authorities would also be pegged back, he said. At the same, a cap would be placed on staff numbers, civil servants would be stripped of many of their perks, and a ban would be imposed on the purchase of new vehicles, said the minister. He said that Serbia was expecting EUR 3bn from the IMF over the next two years to help top up the National Bank of Serbia’s hard currency reserves, which, he said, would guarantee the dinar’s stability. Dinkic was at pains to point out that certain countries like Iceland and Latvia had gone bankrupt during the crisis, but that Serbia would unquestionably avoid the same fate. The minister expects the government’s new measures to offer maximum support to industry in light of the current situation. He announced a budget review for April, adding that the IMF agreement would allow Serbia to seek up to EUR 500mn in loans from foreign commercial banks to help cover the national deficit. Mladjan Dinkic (Tanjug, archive)

"No danger of bankruptcy"

Subsidies to cities and local authorities would also be pegged back, he said. At the same, a cap would be placed on staff numbers, civil servants would be stripped of many of their perks, and a ban would be imposed on the purchase of new vehicles, said the minister.

He said that Serbia was expecting EUR 3bn from the IMF over the next two years to help top up the National Bank of Serbia’s hard currency reserves, which, he said, would guarantee the dinar’s stability.

Dinkić was at pains to point out that certain countries like Iceland and Latvia had gone bankrupt during the crisis, but that Serbia would unquestionably avoid the same fate.

The minister expects the government’s new measures to offer maximum support to industry in light of the current situation.

He announced a budget review for April, adding that the IMF agreement would allow Serbia to seek up to EUR 500mn in loans from foreign commercial banks to help cover the national deficit.

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