The state budget deficit in the first four months of 2016 was around EUR 100 million, rather than an anticipated 600 million, Aleksandar Vucic said on Tuesday.
“Our state coffers have never been in a better condition,” the prime minister told reporters in Vranje, southern Serbia.
Serbia has no problems with cash, unlike many countries in the region, some of which want loans from us, Vucic said.
Liabilities from past years are also under control and interest payments are becoming due, with a total EUR 1.2 billion to be spent for this purpose in 2016, Vucic said, adding that major payments were already made in February and March.
He said that he believes that Serbia will have a dynamic GDP growth rate of a minimum 2.3 percent this year and 3 percent next year, and that “it will be a cumulative, year-on-year growth.”
In any case, “golden years” are ahead for Serbia, he said.
Vucic was visiting a British American Tobacco (BAT) plant in Vranje on Tuesday, when he also remarked that the finalization of the Chinese acquisition of the Smederevo steel mill and the completion of the fourth and fifth reviews of the deal with the IMF are “two significant events ahead for Serbia.”
He “thanked on British American Tobacco for moving its production line from Croatia to Vranje, southern Serbia, calling Serbia the best place for investment,” Tanjug reported.
“Serbia is the best place and you have made a good choice,” Vucic said, noting that BAT’s business operations in Serbia generate over EUR 100 million for the budget annually.
The state will scale up the fight against tobacco smuggling, and explore ways to assist the company even more, the Serbian prime minister said, after opening a new production line of British American Tobacco.
With the opening of the new line worth EUR 5 million, BAT has expanded its capacities by 40 percent and become the production hub for CEFTA member states.
The opening ceremony brought together the company’s senior officials, Regional Director for Western Europe Naresh Sethi, General Manager for Central Europe Richard Widmann, General Manager for Serbia and Montenegro Thanos Trimis, President of the Serbian Chamber of Commerce and Industry Marko Cadez, and numerous businessmen and public figures.
Before touring the company, Vucic met with top managers to discuss the company’s plans in Serbia.
Source; B92
