Cadez: First time Serbia is spending less than producing

President of the Serbian Chamber of Commerce (PKS) Marko Cadez stated on Sunday that the biggest progress in the economic sector is visible in fiscal consolidation as budget revenues are higher than the expenditures

For the first time in history, Serbia is spending less than it is producing, and for the first time the country has funds which can be invested in development instead of being allocated to companies as subsidies, Cadez said during a programme broadcast by the Belgrade-based Television Pink.

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Cadez noted that without fiscal consolidation, there can be no progress. The structural reforms are necessary so that the work may go on and this government policy opens room for the economy to grow in the long run, he underscored.

The PKS president noted that the economy is currently facing several problems, some of which include difficult access to funds, loan payback, technological modernisation of production and presentation on third markets.

(Telegraf.co.uk/ Tanjug)