Vujovic: 2017 budget to be presented to government next week

Serbian Finance Minister Dusan Vujovic said that he expected the 2017 budget to be presented at a government session next week.

He also said that, following that, the budget would be forwarded to the Serbian National Parliament which would set the deadlines for the next steps. “The legal deadline for submitting the 2017 budget is 15th December, but the budget could be adopted earlier depending on how much work the Parliament has”, the Minister added.

Vujovic also said that the 2017-2019 fiscal strategy had been prepared too which would also be presented both to the government and the National Parliament.

The most important elements of this strategy complement those stated in the budget. In 2018 and 2019, the government plans for the economic growth to reach 3.5%, for the deficit to be permanently reduced to 1.5% and for the debt’s share in the national GDP to be 60%.

He added that attracting investments, boosting productivity, strengthening private sector and facilitating effects of public investments were also considered crucial segments of the fiscal strategy.

Furthermore, Vujovic said that the economic growth, at the end of this year, would be 2.7% or 2.8%.

According to him, this year’s deficit should fall between 2% and 2.2% depending whether old Petrohemija and other companies’ debt would be included in the deficit. Next year, the Ministry of Finance projects the deficit to stand at around 1.7% of the GDP.

(Vecernje Novosti, 24.11.2016)

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