Prime Minister Ivica Dacic announced yesterday that next week the government will adopt a revised budget proposal and the related laws aimed at reducing costs of the state.
Dacic, who tonights chairs the first meeting of the National Council for Economic Recovery, announced in a statement to Radio Television Serbia various initiatives, such as subsidised loans to the economy that will lead to an increase in the rate of development.
He pointed out that the effect of the measures that the Serbian government will propose will be approximately €1 billion in savings and also announced the abolition of more than 130 para-fiscal levies for enterprises as well as abolition of redundant agencies and directorates.
The Prime Minister said that it is necessary to think about the short-and long-term measures and consolidate public finances, and warned that the budget deficit is much higher than what was announced earlier this year.
According to him, the deficit is 7%, against the planned 4.5%, while the public debt by the end of the year, if this pace continues, may amount to 60%.
We need to avoid budget blockade, and to provide funds for salaries and pensions, for the normal functioning of the state, as well as for debt financing, in order not to fall into the debt crisis, said Dacic.
He expressed the hope that the result of yesterday’s first session of the National Council on Economic Recovery will be advice how to stimulate the economy and proposals for macroeconomic measures.
Source Serbia Gov.
