Savings of EUR 700mn needed in 2015 - PM

Savings of EUR 700mn needed in 2015 - PM

BELGRADE -- Prime Minister Aleksandar Vučić says it is necessary to make savings of EUR 700 million to ensure financial consolidation in the year to come.

Vučić spoke during a Serbian government meeting held on Sunday.

The government discussed the ongoing drafting of the 2014 budget revision and the budget for the next year, the government's media relations office said in a release.

Vučić said that "more was being spent than earned in the budget sector" and that the ministries and public enterprises whose directors had attended the government meeting "needed to make maximum savings and become more efficient."

The meeting discussed ways to make the savings and to improve efficiency at the public enterprises and budget-funded institutions.