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Experts Urge Serbia to Accelerate Austerity Measures
Politics ♦
Published: October 15, 2013; 12:03 ♦ (Vindobona)
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It is still questionable whether the austerity measures announced by the Serbian government are sufficient.
Experts Urge Serbia to Accelerate Austerity Measures / Picture: © Vindobona.org
Since 2008, Serbia´s fiscal situation has deteriorated drastically. The public debt quota has reached 65% of GDP this year. Only four years ago, the public debt quota stood at 40% of GDP.This year, the country is expected to record a budget deficit of more than 8.0% of GDP. In order to push the budget gap below 3.0% of GDP, the socialist government announced a number of highly…
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