Three percent GDP growth achievable, expert says

Macroeconomic Analysis and Trends (MAT) editor Vladimir Vučković said Friday that the 2011 projected GDP growth of three percent was achievable.

Izvor: Tanjug

Saturday, 25.06.2011.

12:05

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Macroeconomic Analysis and Trends (MAT) editor Vladimir Vuckovic said Friday that the 2011 projected GDP growth of three percent was achievable. He added that conditions had been created in the second half of 2010 and the first half of 2011 for a rise in living standards. Three percent GDP growth achievable, expert says "But we can also see that risks are growing, both in the country and in the region, so the government needs to be careful, and consistently stick to its plan," he said at the Summer Vivaldi Forum at Mt. Mokra Gora. Vuckovic said the necessary conditions had been met for the situation in Serbia to improve and for its GDP to go up, but that a lot would depend on the events in the region. "If the Greek crisis deepens and spreads to other countries, we could face a new crisis," he stressed. He said coordination between the government and the National Bank of Serbia (NBS) was very important, "because the public and businesses interpret signals coming from these two centers, so it is not good for the government to promote one policy, while the NBS is headed in the opposite direction." Vuckovic pointed out that a potential danger next year could be the implementation of the new fiscal decentralization law, which would add RSD 40bn to the budget deficit, which meant spending needed to be cut by the same amount. “Budget revenue and expenditures since the start of the year have been satisfactory and the country could end the year with the planned deficit,” he noted.

Three percent GDP growth achievable, expert says

"But we can also see that risks are growing, both in the country and in the region, so the government needs to be careful, and consistently stick to its plan," he said at the Summer Vivaldi Forum at Mt. Mokra Gora.

Vučković said the necessary conditions had been met for the situation in Serbia to improve and for its GDP to go up, but that a lot would depend on the events in the region.

"If the Greek crisis deepens and spreads to other countries, we could face a new crisis," he stressed.

He said coordination between the government and the National Bank of Serbia (NBS) was very important, "because the public and businesses interpret signals coming from these two centers, so it is not good for the government to promote one policy, while the NBS is headed in the opposite direction."

Vučković pointed out that a potential danger next year could be the implementation of the new fiscal decentralization law, which would add RSD 40bn to the budget deficit, which meant spending needed to be cut by the same amount.

“Budget revenue and expenditures since the start of the year have been satisfactory and the country could end the year with the planned deficit,” he noted.

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