Minster announces “turnaround” in public finances in 2013

Finance and Economy Minister Mlađan Dinkić said Saturday that the turnaround in public finances and the rise in export were expected next year.

Izvor: Tanjug

Saturday, 15.12.2012.

13:29

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BELGRADE Finance and Economy Minister Mladjan Dinkic said Saturday that the turnaround in public finances and the rise in export were expected next year. He added that along with the economic growth forecast for 2014, this would result in higher employment and a slight rise in living standards. Minster announces “turnaround” in public finances in 2013 At an event organized by the Scientific Society of Economists, Dinkic said the greatest economic policy challenge next year would be how to simultaneously cut the budget deficit in half and stop the rise in public debt, while boosting employment. According to him, this cannot be done at the same time, which is why the priority is to stabilize public finances “which is an easy part”. He said this would be followed by completing the restructuring of state-owned companies, a breakthrough in export and structural reforms aimed at achieving long-term stability. Dinkic said the key priority in 2013 would be increasing export, as effects of medium-term investments in the automobile industry and other branches would be visible for the first time. The minister said export was expected to go up by EUR 2.2nb next year to a total of EUR 10.8bn. Dinkic said this would happen thanks to a EUR 1.6bn rise in the export of Fiat car manufacturer and a EUR 600mn rise in export of the Pancevo oil refinery. He said the forecast accounted for the effects of re-launching the Smederevo steel mill and the agricultural season, which could drive Serbia's export even higher. "We are very optimistic about export in 2013 and we base our strategy for the future on it," explained the minister. Mladjan Dinkic (Tanjug, file) Tanjug

Minster announces “turnaround” in public finances in 2013

At an event organized by the Scientific Society of Economists, Dinkić said the greatest economic policy challenge next year would be how to simultaneously cut the budget deficit in half and stop the rise in public debt, while boosting employment.

According to him, this cannot be done at the same time, which is why the priority is to stabilize public finances “which is an easy part”.

He said this would be followed by completing the restructuring of state-owned companies, a breakthrough in export and structural reforms aimed at achieving long-term stability.

Dinkić said the key priority in 2013 would be increasing export, as effects of medium-term investments in the automobile industry and other branches would be visible for the first time.

The minister said export was expected to go up by EUR 2.2nb next year to a total of EUR 10.8bn.

Dinkić said this would happen thanks to a EUR 1.6bn rise in the export of Fiat car manufacturer and a EUR 600mn rise in export of the Pančevo oil refinery.

He said the forecast accounted for the effects of re-launching the Smederevo steel mill and the agricultural season, which could drive Serbia's export even higher.

"We are very optimistic about export in 2013 and we base our strategy for the future on it," explained the minister.

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