16 May 2008 Belgrade _ Serbia’s outgoing government has adopted the guidelines for next year’s budget and given the green light for Italy’s Fiat to buy the country’s only carmaker.
Despite the disputes between former coalition partners on all levels, and the ongoing finalisation of the power-sharing deal between outgoing premier Vojislav Kostunica’s bloc with the nationalists, the Fiat deal was adopted unanimously, allowing the Italian car giant to immediately start work in the central Serbian town of Kragujevac.
The government also came up with fiscal projections for the next couple of years, outgoing Minister of Economy Mjadjan Dinkic told a press conference.
Dinkic, who has created turmoil in President Boris Tadic’s pro-European coalition by refusing to take part in power-sharing talks with the party formerly led by Serbian strongman Slobodan Milosevic, said the government plans to tackle carmaker Zastava’s debt and transform the troubled enterprise from a public to a state-run company.
The memorandum on the country’s budget is designed to strategically define the direction of the Serbian economy, deputy premier Bozidar Djelic said, adding that Serbia plans to cut inflation by a full 7 per cent in the next three years to reach European standards.
Current inflation in Serbia is estimated at some 10.1 per cent, according to the Belgrade government.
In addition, main economic indicators, including the Gross Domestic Product is projected to boost from the current $5,400 per capita to some $9,300 by 2011, Djelic said.
The optimistic economic predictions derived from the fact that pro-European forces expect “the largest investment cycle in Serbia’s history” estimated to reach some 10 billion euros annually.
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