New finance minister: Reforms for financial stability

BELGRADE -- Finance Minister Lazar Krstić has announced introduction of reforms that should restore financial stability and create a system to facilitate competition.

Krstić attends the first session of the reshuffled cabinet (Tanjug)
Krstić attends the first session of the reshuffled cabinet (Tanjug)

In these reforms, whose goal is financial stability, the first principle is to create a system that will facilitate competing in the markets without any obstacles, and the second is support for those who are willing to compete, the website of Belgrade-based daily Danas cited Krstić as saying.

Krstić said that the ministry will do everything to ensure long-term sustainability rather than introduce any short-term reforms that would only serve us until the next election cycle.

Asked what he thinks the biggest challenges in the ministry’s future work will be, Krstić said that a lot has to be done in changing the way the state apparatus, and also each individual, thinks.

Krstić, who was until recently an associate in McKinsey & Company, a consulting firm based in New York, said that his ministry will be composed primarily of young experts with experience in leading international companies.

“Besides them, the ministry will also rely on professionals who have been part of the ministry. Since we pretend to be agents of reforms, in its operations, the Ministry of Finance will be an example of efficient and rational management and meritocracy,” said Krstić.