Vulin: Tough, but only solution

The measures presented by Prime Minister Aleksandar Vučić had been expected and are tough, Aleksandar Vulin has said.

Izvor: Tanjug

Friday, 19.09.2014.

15:45

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Vulin: Tough, but only solution

"The question is whether we have another way to go, any alternative to these measures. We do, and that is to go further into debt, stay in trouble and leave all the problems to our children," Vulin told reporters.

Vulin said that the prime minister has made a courageous move and that the measures are backed by absolutely all members of the government, who will each introduce appropriate austerity measures at their ministries.

Vulin said that he supports the measures proposed, adding that an increase of salaries and pensions in absolute and relative terms will become possible in 2016 and that the living standards are expected to improve.

"That would not be possible if we pretended that there is nothing going on, if we pretended that the state is functioning excellently, if we pretended that we can repay the debts and the loans taken unreasonably..., if we pretended that none of that exists, only to end up in bankruptcy and a collapse, and this is a way to prevent that from happening," he said.

He noted that Serbia must save EUR 700 million, which he said does not only include salary and pension cuts, but also cutting the costs generated by the state administration and reducing subsidies, as well as a different approach to loans, interest rates and expenditures on companies that generate no revenue or profit.

"Austerity is the word that all those measures have in common", Vulin said.

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