Deficit can be higher than planned, minister says

Serbian Finance Minister Mlađan Dinkić says that it has been agreed with the IMF that a consolidated budget deficit can be higher than planned 3.6 pct of GDP.

Izvor: Tanjug

Saturday, 03.11.2012.

13:54

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BELGRADE Serbian Finance Minister Mladjan Dinkic says that it has been agreed with the IMF that a consolidated budget deficit can be higher than planned 3.6 pct of GDP. He pointed out that a higher deficit of the consolidated budget could be a result of higher expenditures for compensation of debts inherited from the previous government. Deficit can be higher than planned, minister says The minister claims that the 2013 budget is well-planned. “The fact is that we agreed with IMF Mission Head Zuzana Murgasova that the consolidated budget deficit could be higher than 3.6 percent of GDP and this is the first time after 12 years of my cooperation with the IMF that the Fund has allowed us to have a higher budget deficit than what we created ourselves,” he explained. Dinkic expressed belief that the IMF mission, that will come to Belgrade on October 13, will confirm the draft budget for 2013. “My plan is to introduce discipline, not to make new debts and to clear all previous ones. By clearing the debts, we will infuse additional solvency in the economy and that will somewhat raise the level of the total deficit next year but not above four percent of GDP, and this is something we will discuss with the IMF,” the finance minister explains. Mladjan Dinkic (FoNet, file) Tanjug

Deficit can be higher than planned, minister says

The minister claims that the 2013 budget is well-planned.

“The fact is that we agreed with IMF Mission Head Zuzana Murgasova that the consolidated budget deficit could be higher than 3.6 percent of GDP and this is the first time after 12 years of my cooperation with the IMF that the Fund has allowed us to have a higher budget deficit than what we created ourselves,” he explained.

Dinkić expressed belief that the IMF mission, that will come to Belgrade on October 13, will confirm the draft budget for 2013.

“My plan is to introduce discipline, not to make new debts and to clear all previous ones. By clearing the debts, we will infuse additional solvency in the economy and that will somewhat raise the level of the total deficit next year but not above four percent of GDP, and this is something we will discuss with the IMF,” the finance minister explains.

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