"Strong resistance to public enterprise reform"

Dusan Vujovic says the government has launched the public enterprise reform, but did not expect "people will try to stop the process in every way."

Source: Tanjug
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"The programs of reforms for the Electric Power Industry and the Railways are a good sign. We are doing this together with the World Bank," the finance minister said at a conference on the effectiveness of EU accession and ways to improve regional competitiveness in Becici, Montenegro, on Thursday.

The minister also pointed out that trade unions are persistent in their desire to "valorize through various benefits and collective agreements" their monopoly position.

Vujovic also said that the issue of problem loans will soon be resolved, thus creating the conditions to reduce high real interest rates which are one of the key limiting factors of economic growth in Serbia.

The Ministry of Finance will soon clean up a great number of problem loans in cooperation with the National Bank of Serbia and commercial banks, Vujovic said.

"The issue of insolvent enterprises will be addressed simultaneously," the minister said, adding that NPLs account for 22 percent of total loans, which is unsustainable.

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