Petrovic

Fiscal Council skeptical about measures

BELGRADE -- The proposed salary and pension cuts are insufficient and the VAT will have to be increased as a result, Fiscal Council President Pavle Petrović said.

KOPAONIK - Serbia's budget deficit would reach seven, even eight percent of gross domestic product (GDP) this year, which would be the highest rate in the region, while GDP is expected to grow from zero to one percent, Chairman of the Fiscal Council Pavle Petrovic estimated on Tuesday.