Fiscal Council wants to see "additional savings"

The seriousness of the public finances situation "calls for more decisive measures than those in the 2014 budget law and fiscal strategy."

Source: Tanjug
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This was announced by the Fiscal Council, whose members held a press conference on Tuesday to observe that the foreseen 2014 deficit of 7.1 percent of gross domestic product (GDP) was "too high and no clear plan for solving the problem of domestic loss-makers, such as Srbijagas, has been proposed yet."

The Fiscal Council believes that the planned budget for 2014 is inappropriate to the situation and that additional savings need to be made. Order needs to be introduced in the operations of public and state enterprises and banks immediately, as huge amounts money from the budget are being spent on them, the Council added.

The Council said that structural reforms, such as relating to retirement policies, need be conducted as soon as possible and a credible middle-term savings plan has to be drawn up.

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