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Time for Serbia to set new fiscal targets

Belgrade still lags behind other regional states in economic growth and sustainable financial prosperity but now is the time for the financial authorities to set new targets.

As Serbian Fiscal Council representatives stated while speaking “at a traditional meeting with members of the Serbian Association of Managers on Friday, April 27 the ‘foundations for sustainable and healthy public finances and acceleration of economic growth can be set in 2018 as the most significant quantitative objectives of fiscal consolidation were achieved in 2017′”, Tanjug reports.

Vladimir Vuckovic who is a member of the Fiscal Council spoke of the “the key issue where Serbia is lagging behind the region”: “There are two levers of growth that need to be worked on – on one hand, more investments, both by the state and small and medium enterprises, and bringing order into the business environment by cutting red tape and ensuring an efficient judiciary.”

Attendees’ discussions focused on fiscal movements, expected trends in 2018, Serbia’s macroeconomic stability and what affects it, ongoing or necessary reforms that need to be added to the future helpful actions’ list, what the case is concerning the “restructuring and privatization of state enterprises” and when these will be over.

Source; IBNA