Minister: 2013 "crucial for Serbian economy"

BELGRADE Minister of Finance and Economy Mladjan Dinkic said Thursday that 2013 would be crucial for the country's economy. According to him, export would grow by at least 25 percent compared to this year. Minister: 2013 "crucial for Serbian economy" At a award ceremony for best exporters this year, Dinkic said the change would have two aspects - a budget deficit cut in half and more stable public finances, along with a steep rise in exports. He said export would see a modest growth this year reaching EUR 8.6 billion, and would increase at least 25 percent next year to an estimated EUR 11 billion. According to Dinkic, the rise of export in 2013 will be based on higher export from the automobile industry in Kragujevac of at least EUR 1.5 billion, and from the oil refinery in Pancevo of EUR 600 to 800 million. "The idea is to reduce the budget deficit, stop public debt from rising further, stabilize public finances and introduce fiscal discipline, and use liquidity to kick start the economy, the effects of which will be felt by the citizens," said the minister. Dinkic said that a better farming season was expected next year and efforts would be made to increase food export, adding that if production started at the Smederevo steel mill, the export forecast for 2013 would be even higher. Dinkic said the government would continue working on attracting foreign investments, creating a network of small and medium businesses which would operate as suppliers for major investors, resulting in higher employment and living standards. He noted that the Serbia Investment and Export Promotion Agency (SIEPA) would have its highest budget yet next year - ten times the money it had when it was first founded Mladjan Dinkic (Beta) Tanjug

Minister: 2013 "crucial for Serbian economy"

At a award ceremony for best exporters this year, Dinkić said the change would have two aspects - a budget deficit cut in half and more stable public finances, along with a steep rise in exports.

He said export would see a modest growth this year reaching EUR 8.6 billion, and would increase at least 25 percent next year to an estimated EUR 11 billion.

According to Dinkić, the rise of export in 2013 will be based on higher export from the automobile industry in Kragujevac of at least EUR 1.5 billion, and from the oil refinery in Pancevo of EUR 600 to 800 million.

"The idea is to reduce the budget deficit, stop public debt from rising further, stabilize public finances and introduce fiscal discipline, and use liquidity to kick start the economy, the effects of which will be felt by the citizens," said the minister.

Dinkić said that a better farming season was expected next year and efforts would be made to increase food export, adding that if production started at the Smederevo steel mill, the export forecast for 2013 would be even higher.

Dinkić said the government would continue working on attracting foreign investments, creating a network of small and medium businesses which would operate as suppliers for major investors, resulting in higher employment and living standards.

He noted that the Serbia Investment and Export Promotion Agency (SIEPA) would have its highest budget yet next year - ten times the money it had when it was first founded