Cvetković: Serbia nearing end of crisis

Prime Minister Mirko Cvetković says that Serbia is nearing the end of the economic crisis and that the first shoots of recovery can be seen.

Izvor: Beta

Friday, 16.10.2009.

15:20

Default images

Prime Minister Mirko Cvetkovic says that Serbia is nearing the end of the economic crisis and that the first shoots of recovery can be seen. Cvetkovic told a business roundtable discussion organized by the €conomist media group that he had used his own methodology and daily reports on income to reach this conclusion. Cvetkovic: Serbia nearing end of crisis He added that revenue in the last few days had exceeded that of the same period last year. Cvetkovic said that he was hopeful that the fall in GDP would be less than four percent, since agriculture was showing growth of two to three percent. He said that the government was working on solving two key problems in the area of public spending: structure and the excessive share of public spending in GDP. The prime minister said that the government had received suggestions from the International Monetary Fund (IMF) on the draft law for fiscal responsibility. “The law was part of the government’s strategy, which foresees budget spending adjustments, and the suggestions show that the IMF has accepted the government’s principle for solving the budget deficit problem,” he said. Cvetkovic said that this was encouraging and that he expected an agreement to be reached. He said that Serbia still had two main problems—structure and public spending—especially because of decreased capital investment. Cvetkovic reiterated that the government would find it hard to restructure public companies such as Telekom Serbia, Jat, and the Serbian Railway, adding that restructuring would be “unique for each individual company.” The prime minister stressed that Serbia needed to have growth rates between five and six percent per annum in order to improve living standards for all citizens. Mirko Cvetkovic (FoNet archive)

Cvetković: Serbia nearing end of crisis

He added that revenue in the last few days had exceeded that of the same period last year.

Cvetković said that he was hopeful that the fall in GDP would be less than four percent, since agriculture was showing growth of two to three percent. He said that the government was working on solving two key problems in the area of public spending: structure and the excessive share of public spending in GDP.

The prime minister said that the government had received suggestions from the International Monetary Fund (IMF) on the draft law for fiscal responsibility.

“The law was part of the government’s strategy, which foresees budget spending adjustments, and the suggestions show that the IMF has accepted the government’s principle for solving the budget deficit problem,” he said.

Cvetković said that this was encouraging and that he expected an agreement to be reached.

He said that Serbia still had two main problems—structure and public spending—especially because of decreased capital investment.

Cvetković reiterated that the government would find it hard to restructure public companies such as Telekom Serbia, Jat, and the Serbian Railway, adding that restructuring would be “unique for each individual company.”

The prime minister stressed that Serbia needed to have growth rates between five and six percent per annum in order to improve living standards for all citizens.

Komentari 0

0 Komentari

Možda vas zanima

Podeli: