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Austerity to be followed by policy of growth - Serbia Business

Austerity to be followed by policy of growth

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The government policy in the period to come will be one of growth and spending, Serbian PM Aleksandar Vucic has announced.

“The government policy over the next four years, as an answer to all questions and my answer essentially, must in the coming period become a policy of growth in the wake of a serious period of austerity,” Vucic told Tanjug in an interview.

That means growth based on investments and exports – which is its best part – as well as on spending, Vucic said.

The minimum salary has been raised, “which means that those with the lowest salaries in Serbia – around 350,000 people who are mostly working in the private sector – will see a salary increase of at least 8 pct,” Vucic said.

“Also, there will be one-off benefits, as well as a pension increase – not a high one, but still an increase,” he said, adding that this would boost spending.