Fiscal Council

Aleksandar Vucic, Serbian Prime Minister, on Thursday said Serbia's austerity measure are bringing sufficiently good results for pensions and salaries in the public sector - reduced by 10 per cent in November - to rise this October.

"In August, we will start talks with the IMF about salaries and pensions increases, and we will increase them," Vucic said on Thursday.

BELGRADE - During its first year in office, the government of Serbia has built a solid foundation for economic recovery over the medium term, and it is crucial to continue with the austerity measures in the second half of 2015 and in the next two years, Fiscal Council member Vladimir Vuckovic told Tanjug on Tuesday.

BELGRADE - Serbian economy cannot expect positive results in 2015 without an increase in household consumption and exports, the Serbian Association of Managers (SAM) said in a statement on Tuesday.

BELGRADE- Serbia's budget deficit amounted to RSD 21.44 billion in the first quarter of 2015 - RSD 33.5 billion less than it had been planned, Serbia's Prime Minister Aleksandar Vucic has said.

Romania's fiscal watchdog, the Consiliul Fiscal - Fiscal Council - has echoed concerns over government plans to start reducing Value Added Tax and income tax as a way to boost disposable income and get people to spend more.

The Government's initiative of rewriting the Tax Code is justified and welcome, given the many modifications brought to this document over the years; nevertheless, major cuts to taxes and duties are not sustainable, the Fiscal Council says in its opinion on the Tax Code revision project.

Photo credit: (c) Cristian NISTOR / AGERPRES FLOW

Fiscal Council: Deficit RSD 25-30bn in 1st quarter

BELGRADE -- The general government deficit will probably amount to RSD 25-30bn in the first quarter of 2015 considering the surplus of RSD 4.6bn in the first two months.

At the same time the March deficit will stand at around RSD 30 billion, the Fiscal Council has stated.

BELGRADE - The general government deficit will probably amount to RSD 25-30 billion in the first quarter of 2015 considering the surplus of RSD 4.6 billion in the first two months, while the March deficit will stand at around RSD 30 billion, the Fiscal Council has stated.

BELGRADE - Serbian Minister of Public Administration and Local Self-Government Kori Udovicki stated on Friday that dismissals in the public sector would begin as of July.

Law on reduction of public sector administration in April

BELGRADE -- A law on public sector "rationalization" will be presented in late April, Minister of State and Local Administration Kori Udovicki has said.

The law will be adopted according to a conclusion by the government, she told the Belgrade-based daily Blic, but refused to comment on the details.