Finance minister: Deficit must remain unchanged

Finance Minister Diana Dragutinović believes there will be pressure to review the 2011 budget, noting, however, that the budget deficit must remain unchanged.

Izvor: Tanjug

Monday, 03.01.2011.

16:58

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Finance Minister Diana Dragutinovic believes there will be pressure to review the 2011 budget, noting, however, that the budget deficit must remain unchanged. "I was surprised by the inflation growth in the conditions of stagnation, but I do not believe that fiscal policy is what caused it," Dragutinovic stated in an interview for the Belgrade-based daily Politika on Monday. Finance minister: Deficit must remain unchanged She said that being in the position of finance minister taught her that, no matter what is being done and whatever the amount is allocated from the budget, no one is ever satisfied. "All ministers are unsatisfied with the 2011 budget, primarily myself as the finance minister. But the role of the budget is not to make the ministers happy, but rather to provide macroeconomic stability," said Dragutinovic. She stressed that the role of the finance minister is to put various priorities and interests into a sustainable macroeconomic framework, defined by the Law on the Budget System. "I am sure that there will be pressures, but the budget must be sustainable, and the budget deficit must remain unchanged. Within that, I do not exclude the possibility of changes," Dragutinovic underscored. She said that the IMF's assessment that Serbia is carrying out a sustainable fiscal policy is important. "This would be a good signal for foreign investors and that is why I am in favor of continuing the arrangement, even though I think that the chance of removing structural imbalance in public finance was missed," Dragutinovic pointed out.

Finance minister: Deficit must remain unchanged

She said that being in the position of finance minister taught her that, no matter what is being done and whatever the amount is allocated from the budget, no one is ever satisfied.

"All ministers are unsatisfied with the 2011 budget, primarily myself as the finance minister. But the role of the budget is not to make the ministers happy, but rather to provide macroeconomic stability," said Dragutinović.

She stressed that the role of the finance minister is to put various priorities and interests into a sustainable macroeconomic framework, defined by the Law on the Budget System.

"I am sure that there will be pressures, but the budget must be sustainable, and the budget deficit must remain unchanged. Within that, I do not exclude the possibility of changes," Dragutinović underscored.

She said that the IMF's assessment that Serbia is carrying out a sustainable fiscal policy is important.

"This would be a good signal for foreign investors and that is why I am in favor of continuing the arrangement, even though I think that the chance of removing structural imbalance in public finance was missed," Dragutinović pointed out.

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