"EU supports Serbia's efforts in fiscal consolidation"

"EU supports Serbia's efforts in fiscal consolidation"

The new Serbian government is committed to EU integration and European reforms, Serbian Finance Minister Lazar Krstić confirmed at the ministerial meeting in Brussels on Tuesday which was also attended by the officials of the National Bank of Serbia and ministers of EU candidate countries.

Krstić said that goals such as the stable export-based economic growth, reduction of budget deficit and strengthening of financial stability are only a part of the plan which the Serbian government intends to carry out in the next three or four years.

This is a plan which entails a deep reform in public enterprises, completion of the restructuring process in 157 companies with government stakes and consolidation of the government share in the financial sector, said the ministry in a statement.

"The amendments to the law on labor, careful control of subsidies in keeping with the EU regulations in the area and establishment of more rigorous fiscal discipline in the public sector are the tasks of the new government," Krstić underscored.

Serbia is facing ambitious and properly set plans and one of the biggest tasks is the public administration reform, Krstić was quoted as saying.