Government has anti-crisis measures, says prime minister

Serbian PM Mirko Cvetkovic says the Serbian government will take all necessary measures if negative global effects threaten Serbia's macroeconomic stability. "The Serbian government actively monitors the situation in the global economy, particularly the things currently happening in the countries with which Serbia has an intensive economic cooperation, and the regional countries," he told Belgrade-based daily Vecernje novosti. Government has anti-crisis measures, says prime minister "In case the negative effects of global events threaten Serbia's macroeconomic stability, we will take all the necessary measures," the PM added. As for the budget review, Cvetkovic said it did not imply a delay of large infrastructural projects, such as the completion of the Corridor 10, construction of the Zemun-Borca bridge or the by-pass around Belgrade. "I believe the budget review will enable a realization of the arrangement with the IMF, which will send a positive signal to the investors that the government pursues a responsible economic policy, and that it will ensure a macroeconomic stability of the country," he was quoted as saying. The prime minister stressed the budget review confirmed the government's social responsibility, as it would enable a legally regulated RSD 14.7bn increase in salaries and pensions, and RSD 3.1bn increase in social welfare, in accordance with the new Social Security Law. Cvetkovic pointed out that the review would not imply a reduction in the funds intended for active employment measures or agricultural subsidies. The prime minister said the budget review would increase economic incentives by RSD 2.8bn. Regarding foreign investments, he said that a large number of investments in the private sector were either realized or started in 2010, adding that, by the end of 2011, everything would be prepared for the start of production of 200,000 cars in the new Fiat factory in Kragujevac. "Such a large project will not only contribute to raising Serbia's technological level, export performances and competitiveness, but also be an important signal for the arrival of other great investors in the sector of industry, agriculture, telecommunications and information society. There have been such announcements," Cvetkovic underlined. Mirko Cvetkovic (FoNet, file)

Government has anti-crisis measures, says prime minister

"In case the negative effects of global events threaten Serbia's macroeconomic stability, we will take all the necessary measures," the PM added.

As for the budget review, Cvetković said it did not imply a delay of large infrastructural projects, such as the completion of the Corridor 10, construction of the Zemun-Borča bridge or the by-pass around Belgrade.

"I believe the budget review will enable a realization of the arrangement with the IMF, which will send a positive signal to the investors that the government pursues a responsible economic policy, and that it will ensure a macroeconomic stability of the country," he was quoted as saying.

The prime minister stressed the budget review confirmed the government's social responsibility, as it would enable a legally regulated RSD 14.7bn increase in salaries and pensions, and RSD 3.1bn increase in social welfare, in accordance with the new Social Security Law.

Cvetković pointed out that the review would not imply a reduction in the funds intended for active employment measures or agricultural subsidies.

The prime minister said the budget review would increase economic incentives by RSD 2.8bn.

Regarding foreign investments, he said that a large number of investments in the private sector were either realized or started in 2010, adding that, by the end of 2011, everything would be prepared for the start of production of 200,000 cars in the new Fiat factory in Kragujevac.

"Such a large project will not only contribute to raising Serbia's technological level, export performances and competitiveness, but also be an important signal for the arrival of other great investors in the sector of industry, agriculture, telecommunications and information society. There have been such announcements," Cvetković underlined.