Minister: IMF arrangement almost certain

Minister: IMF arrangement almost certain

It remains to be seen which cuts will be included in the 2015, 2016 and 2017 budget and which budget items will be adjusted, but the important thing is that the agreement will be realized by 2017, he said.

“The arrangement with the IMF is 99 percent certain,” said Vujović, voicing hope that the news will be made public on Thursday.

The contents of the measures have been agreed, and their full extent and scope are yet to be determined, he added.

When asked to specify the remaining one percent, the minister replied that it refers to modalities.

The debate is still ongoing concerning the gas transportation fee which Serbia did not charge to other countries based on economic prices, he explained.

The talks also refer to cost cuts in the state-owned power company EPS, and on how, if achieved, they would be included in the budget, the minister said, adding that the companies under restructuring and public enterprises are being discussed in detail.

It is all rather time consuming as all the effects are being evaluated, said Vujović.

“Public enterprises have been an issue for years, and now we have reached a point where some of these companies can no longer survive due to poor performance,” said Vujović.

The government will focus on solving the problem of the chemical complex, the Smederevo-based steel mill and similar companies, which are intended to boost the industrial production and economic growth.

The IMF mission has been in Serbia since early November and the negotiations are to be completed on Thursday.