Minister: No tax hikes, no salary cuts

Minister of Economy Mlađan Dinkić says there will be no tax increase or lowering of salaries in Serbia, since that would be economically wrong.

Izvor: Beta

Friday, 14.08.2009.

09:43

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Minister of Economy Mladjan Dinkic says there will be no tax increase or lowering of salaries in Serbia, since that would be economically wrong. "If we requested a tax increase, we would additionally reduce demand, which is the main cause of recession," he told journalists. Minister: No tax hikes, no salary cuts Dinkic expressed the belief that the Serbian government will convince the International Monetary Fund mission of that if they raise the question. According to him, it is necessary to make the country "less costly," and the only long-term budget solution is to reduce the excessive public sector and bureaucracy. He assessed that decreasing expenditures, and not increasing taxes, is the only economically sound strategy for Serbia. Based on previous announcements, the government will ask the International Monetary Fund to permit an increase of the budget deficit from the agreed three percent of GDP to 4.5 percent in 2009. According to the media, as a guarantee for a less expensive state, the government will accept the obligation to significantly slash the number of employees in the public sector, mostly in the areas of education and health care.

Minister: No tax hikes, no salary cuts

Dinkić expressed the belief that the Serbian government will convince the International Monetary Fund mission of that if they raise the question.

According to him, it is necessary to make the country "less costly," and the only long-term budget solution is to reduce the excessive public sector and bureaucracy.

He assessed that decreasing expenditures, and not increasing taxes, is the only economically sound strategy for Serbia.

Based on previous announcements, the government will ask the International Monetary Fund to permit an increase of the budget deficit from the agreed three percent of GDP to 4.5 percent in 2009.

According to the media, as a guarantee for a less expensive state, the government will accept the obligation to significantly slash the number of employees in the public sector, mostly in the areas of education and health care.

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