Brnabic: Serbia’s public debt will be reduced to 62% of GDP

Serbian PM, Ana Brnabic said that Serbia had good economic indicators despite the problems that the drought had caused to agriculture and power generation sector. She also added that the country’s public debt would be reduced to 62% of the national GDP by the year end.

The PM confirmed that the salaries in the public sector and pensions would be increased, but could not tell with certainty by how much.

“We did say that the country’s economic growth would probably be just under 3% which was our projection before we were hit by bad weather – i.e. the exceptionally cold winter, which negatively affected the production of electricity, and the drought which hit our agriculture, as well as the electricity production. However, all other indicators are very good”, Brnabic said at a press conference.

She also mentioned that she had talked to the Fiscal Council and that all the economic parameters spoke in favour of economic recovery. The export is also larger than originally projected, and it has grown between 10% and 12%. The industry has also grown, between 6% and 8%.

“The public debt has been reduced much more than we had originally planned and it currently stands at 64.5% of the national GDP. We expect this percentage to drop to 62 by the year end”, the PM said.

Additionally, the prime minister stated that the government of Serbia was looking at a broader picture and that it did not want to be irresponsible towards the budget. She added that the government which was invested only in spending today could endanger fiscal discipline tomorrow. 

She pointed out that Serbia could achieve better economic growth, and added that next year would be much better for the country.

(Politika, 06.09.2017)




This post is also available in: Italiano

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