Finance minister calls for spending cuts
Finance Minister Diana Dragutinović said that in the next seven years, Serbia must cut ublic spending by 0.75 percent of the GDP.
Tuesday, 27.04.2010.
14:48
Finance Minister Diana Dragutinovic said that in the next seven years, Serbia must cut ublic spending by 0.75 percent of the GDP. She told Voice of America that the goal is for Serbia to balance its budget by 2015, stressing that this is the essence of the draft law for fiscal responsibility that should enable a faster and easier exit out of the economic crisis. Finance minister calls for spending cuts Dragutinovic said that the first draft of that law has already been forwarded to the International Monetary Fund (IMF) for review. She specified that the document is expected to define that the public debt cannot be greater than 40 percent of the GDP, and that the annual limit for state debt can be no greater than 2.5 percent of the GDP. Regarding the announced tax reforms, Dragutinovic said that it is most important for Serbia to define the direction of these reforms and to reach a consensus within the ruling coalition, but added that businesspeople, unions and the citizens should support it as well. “Tax reforms and the pension system reforms will be the most important topics of discussion with the IMF delegation, which is expected to arrive in Serbia in mid-May,” she said. Dragutinovic said that after the IMF-World Bank conference she attended in Washington, it was made clear that Serbia has the support of the U.S. for the reforms, within these institutions.
Finance minister calls for spending cuts
Dragutinović said that the first draft of that law has already been forwarded to the International Monetary Fund (IMF) for review.She specified that the document is expected to define that the public debt cannot be greater than 40 percent of the GDP, and that the annual limit for state debt can be no greater than 2.5 percent of the GDP.
Regarding the announced tax reforms, Dragutinović said that it is most important for Serbia to define the direction of these reforms and to reach a consensus within the ruling coalition, but added that businesspeople, unions and the citizens should support it as well.
“Tax reforms and the pension system reforms will be the most important topics of discussion with the IMF delegation, which is expected to arrive in Serbia in mid-May,” she said.
Dragutinović said that after the IMF-World Bank conference she attended in Washington, it was made clear that Serbia has the support of the U.S. for the reforms, within these institutions.
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