Serbia won’t go bankrupt, minister promises

Serbia will not go bankrupt, Serbia’s Finance and Economy Minister Mlađan Dinkić told Radio Television of Serbia (RTS) on Tuesday evening.

Izvor: RTS

Wednesday, 03.10.2012.

09:42

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BELGRADE Serbia will not go bankrupt, Serbia’s Finance and Economy Minister Mladjan Dinkic told Radio Television of Serbia (RTS) on Tuesday evening. He stressed that it would have been a possible scenario if the government had not taken economic measures. Serbia won’t go bankrupt, minister promises “In 2013 we could face similar problems as Greece that has the public debt of 170 percent of the GDP and Serbia will have the debt of around 60 percent of the GDP by the end of the year,” Dinkic explained. He added that the government planned to halve the budget deficit and reduce it to just one percent of the GDP by 2015. Trade Minister Rasim Ljajic told RTS that there would be no quick economic recovery. “The state needs to do the belt-tightening and needs to invest in production and export, those are key things,” he underscored. The trade minister said that it was wrong to give “cataclysmic” statements that “Serbia is on the verge of bankruptcy, disaster and complete downfall” but that it was also wrong to underestimate the severity of the crisis. Ljajic stressed that the Serbian government would make a decision on Thursday to import 20,000 tons of cooking oil in order to stabilize the market, He said that the Finance Ministry, Agriculture Ministry and Trade Ministry were preparing a joint decision that would temporarily repeal customs duties on the import of oil, sugar and powdered milk. Mladjan Dinkic (FoNet, file) RTS

Serbia won’t go bankrupt, minister promises

“In 2013 we could face similar problems as Greece that has the public debt of 170 percent of the GDP and Serbia will have the debt of around 60 percent of the GDP by the end of the year,” Dinkić explained.

He added that the government planned to halve the budget deficit and reduce it to just one percent of the GDP by 2015.

Trade Minister Rasim Ljajić told RTS that there would be no quick economic recovery.

“The state needs to do the belt-tightening and needs to invest in production and export, those are key things,” he underscored.

The trade minister said that it was wrong to give “cataclysmic” statements that “Serbia is on the verge of bankruptcy, disaster and complete downfall” but that it was also wrong to underestimate the severity of the crisis.

Ljajić stressed that the Serbian government would make a decision on Thursday to import 20,000 tons of cooking oil in order to stabilize the market,

He said that the Finance Ministry, Agriculture Ministry and Trade Ministry were preparing a joint decision that would temporarily repeal customs duties on the import of oil, sugar and powdered milk.

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