Izvor: N1 televizija, 08.Maj.2018, 16:25   (ažurirano 02.Apr.2020.)

Macroeconomic stability depends on top Serbian officials

Serbian economists warned on Tuesday that the finance minister’s resignation could undermine the country’s macroeconomic stability, the Beta news agency reported.

Finance Minister Dusan Vujovic handed his written resignation to Prime Minister Ana Brnabic on Monday, citing personal reasons.

Belgrade University School of Economy Professor Milojko Arsic said that Vujovic, acting together with the country’s Fiscal Council and the International Monetary Fund, played >> Pročitaj celu vest na sajtu N1 televizija << an important role in creating fiscal policy and winning political support to implement it over the past three years. “The key political players, the president and prime minister, have announced a big rise in budget expenses by promising to raise salaries and pensions by the end of the year even though public sector salaries were raised by some nine percent this year,”Arsic warned, recalling that “these authorities implemented an expansive and irresponsible fiscal policy from 2012 to 2014 with high debts and a high budget deficit all the while blaming the previous government”.

Arsic’s fellow professor Ljubodrag Savic said he does not expect an upset in macroeconomic stability solely because of the resignation because key decision were taken by the heads of state and government with stability depending on their policies. “Vujovic did not introduce austerity measures, that policy was implemented by the president and prime minister and stability will depend on them no matter who takes over the finance ministry,” Savic said.  

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