The Serbian government achieved a major success in 2015, cutting the deficit from 6.6 to 3.7 percent of GDP. However, this is still high and does not ensure a recovery of public finances, President of the Fiscal Council Pavle Petrovic said on Wednesday.
“With the steps made in 2015, Serbia is only half-way to meeting the overall three-year plan. The most significant success was made concerning the budget deficit reduction,” Petrovic said, noting this was still not enough for a drop in Serbia’s public debt.
At a regular conference dedicated to the estimates concerning the 2016 fiscal strategy, Petrovic said that the three-year plan had three main elements – a deficit reduction to below 3 percent of GDP, reform of public enterprises and privatisation.
Petrovic pointed to the lack of credible measures in the other two areas.
Source: Tanjug
Related Articles
