Finance minister expects “turn for better in 2013”

BELGRADE The coming year is a turning point for the Serbian economy, in which I expect a big turn for the better, Economy and Finance Minister Mladjan Dinkic has said. The minister also expects a final recovery whose effect should be an improved standard of living in 2014. Finance minister expects “turn for better in 2013” “The situation that this government found was disastrous. The economy was on its knees, the budget was an empty box and public finances were in a mess. But all the dangers of collapse and bankruptcy have been avoided,” Dinkic told Belgrade-based daily Vecernje novosti. “With the public finances stabilized, the government will halve the budget deficit and finally stop the growth of public debt and interest rates. We will set the economy going so we expect an economic growth of two percent,” he was quoted as saying. Asked if the projection was a realistic one, he said that a whole set of concrete measures had been taken to provide incentives for overly indebted businessmen. The minister pointed out that para-fiscal levies had been abolished and that the bureaucratic procedures would get simplified. He said he expected a huge export growth in 2013. “Even assuming that the exports of all other companies remain at this year's level, and that only the plans of Fiat and of the Oil Industry of Serbia are realized, we will have an exports growth of at least 25 percent. I expect that exports close to EUR 11bn next year, a great improvement on this year's 8.6bn. This will be the first time that the exports go over the magic line of EUR 10bn," Dinkic pointed out. "Given that the agricultural season is a better one, the exports will be even bigger,” he added. The minister said that unemployment was the biggest social problem and “cancer” of the industrial sector, adding that the plans for the coming year included “putting a stop to the unemployment growth rate, which should start dropping during 2014.” Mladjan Dinkic (Beta, file) Tanjug Vecernje novosti

Finance minister expects “turn for better in 2013”

“The situation that this government found was disastrous. The economy was on its knees, the budget was an empty box and public finances were in a mess. But all the dangers of collapse and bankruptcy have been avoided,” Dinkić told Belgrade-based daily Večernje novosti.

“With the public finances stabilized, the government will halve the budget deficit and finally stop the growth of public debt and interest rates. We will set the economy going so we expect an economic growth of two percent,” he was quoted as saying.

Asked if the projection was a realistic one, he said that a whole set of concrete measures had been taken to provide incentives for overly indebted businessmen.

The minister pointed out that para-fiscal levies had been abolished and that the bureaucratic procedures would get simplified.

He said he expected a huge export growth in 2013.

“Even assuming that the exports of all other companies remain at this year's level, and that only the plans of Fiat and of the Oil Industry of Serbia are realized, we will have an exports growth of at least 25 percent. I expect that exports close to EUR 11bn next year, a great improvement on this year's 8.6bn. This will be the first time that the exports go over the magic line of EUR 10bn," Dinkić pointed out.

"Given that the agricultural season is a better one, the exports will be even bigger,” he added.

The minister said that unemployment was the biggest social problem and “cancer” of the industrial sector, adding that the plans for the coming year included “putting a stop to the unemployment growth rate, which should start dropping during 2014.”