IMF official: Government agreed to hike electricity price

Serbia's new precautionary arrangement with the IMF means that the country has agreed to raise the electricity price by 15 percent on April 1.

Izvor: Tanjug

Wednesday, 04.03.2015.

15:29

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(Tanjug)

IMF official: Government agreed to hike electricity price

"It was agreed with the Serbian government that further increases in the price of electricity would be considered next year," he said on the second day of the Kopaonik Business Forum.

Yesterday, Serbian PM Aleksandar Vucic suggested that his government would make a decision on the possible price hike later this month.

Regarding layoffs in government companies that are undergoing restructuring, Daehaeng said the IMF "never demanded layoffs when making arrangement with a country."

"The agreement with the Serbian government is to let go up to five percent of public sector employees, with 3.5 percent leaving by simply reaching the retirement age," he explained.

The government is already working on determining which parts of the public sector have too many employees, he said.

Commenting on budget savings, he noted that additional budget revenue should be kept and, for the period from 2015 to 2018, one half should be used for early payment of Serbia's debt, while the other should be spent on investments in infrastructure.

The IMF programme suggests that no more than 3 percent of GDP should go into spending, Daehaeng added.

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