"Financial collapse of state prevented"

Finance Minister Diana Dragutinovic said on Friday that her ministry made several important moves over the past year. This prevented the financial collapse of the state, she stated. "Financial collapse of state prevented" Addressing reporters at the Serbian government on the occasion of one year of work of the Finance Ministry, Dragutinovic said that "much has been done - in spite of certain dissatisfaction of the public and more or less augmented criticisms - primarily in the area of curbing public spending, securing the financing of work along Corridor 10, and the regulating of due debts". "If there had not been a radical reduction of spending, the Serbian budget expenditure would be almost RSD 795bn instead of the current RSD 719bn," Dragutinovic said. She listed as other results of the ministry the securing of the stability of public finances "which is evident in the meeting of the state obligations", good coordination with the National Bank of Serbia (NBS), the development of the financial market, good management of the public debt, and work on the reform of public finances.

"Financial collapse of state prevented"

Addressing reporters at the Serbian government on the occasion of one year of work of the Finance Ministry, Dragutinović said that "much has been done - in spite of certain dissatisfaction of the public and more or less augmented criticisms - primarily in the area of curbing public spending, securing the financing of work along Corridor 10, and the regulating of due debts".

"If there had not been a radical reduction of spending, the Serbian budget expenditure would be almost RSD 795bn instead of the current RSD 719bn," Dragutinović said.

She listed as other results of the ministry the securing of the stability of public finances "which is evident in the meeting of the state obligations", good coordination with the National Bank of Serbia (NBS), the development of the financial market, good management of the public debt, and work on the reform of public finances.