Vucic: First year without budget review, with possible GDP growth of up to 1%

For Serbia, this could be the first year without budget review, Prime Minister Aleksandar Vucic announced today summarizing the results of reform one year after the Labor Law and fiscal consolidation measures were passed.

As he specified at a press conference, the budget deficit as of today is RSD 25 billion, which is in line with the plan agreed upon with the International Monetary Fund (IMF). He also added that the budget deficit should be at the level of 2.87 percent of GDP by the year's end, stressing that Serbia could register a GDP growth of between 0.5 and 1 percent in 2015.

He noted that Srbijagas for the first time ever did not owe any money to Gazprom for gas supplied since the start of the heating season 2014/2015, that Nikola Tesla Airport had septupled its profit in the first five months of 2015 from the same period in 2014, and that Air Serbia too had turned a bigger profit.

The prime minister said that such results of fiscal consolidation had created space for negotiation with international creditors on salary and pension increase.

Vlada Republike Srbije

Međunarodni monetarni fond-MMF Beograd

JP Srbijagas Novi Sad

Gazprom Export Moskva

A.D. Aerodrom Nikola Tesla Beograd

Air Serbia ad Beograd

Aleksandar Vucic

budget review

Labor Law

fiscal consolidation measures

budget deficit

GDP

GDP growth

IMF

Gazprom

Air Serbia