Excise duties on oil derivatives cut by 20 percent in Serbia

Photo: Handout photo

Prime Minister of Serbia Djuro Macut continued his regular consultations with members of the Government and today discussed the state of public finances, current economic trends and priority activities aimed at preserving macroeconomic stability and protecting the standard of citizens with First Deputy PM and Minister of Finance Sinisa Mali.

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The interlocutors discussed the decision made at today's session of the Government of Serbia regarding an additional reduction of excise duties on oil derivatives, by a total of 20 percent, which is one of the measures aimed at preserving the supply stability and protecting the domestic market from the negative consequences stemming from disruptions in international flows.

Special attention was paid to the latest report published by the Fitch agency about Serbia's credit rating, which confirms that international financial institutions trust the responsible economic policy of Serbia, and is additional confirmation of the stability of the country's public finances. Potential risks on the international financial markets due to the continuation of war conflicts, as well as their possible impact on the energy market and overall economic trends, were also discussed.

The reform package containing 22 laws under the jurisdiction of the Ministry of Finance was another topic. This package has been sent to the European Commission for its opinion. It was assessed that the package represents an important step in the continuation of the reform process and Serbia's EU integration.

Sinisa Mali informed the prime minister about the dynamics of work and preparations for EXPO 2027, in which 140 countries and international organizations have confirmed their participation so far, which is proof of Serbia's international reputation and the importance of this project for the economic development of the country.

A special part of the conversation was devoted to measures to protect the living standard of citizens. Macut insisted on speeding up the completion of all necessary legal activities in order to expedite the realization of the assistance program for the most vulnerable persons, including financial support and measures to reduce prices of medications, something announced by President Aleksandar Vucic.

At the same time, the prime minister ordered Mali to undetake all available measures in coordination with all relevant institutions to preserve price stability, stressing that the protection of citizens' standard of living is one of the most important priorities of the Government of Serbia.

Macut and Mali also discussed the continuation of negotiations with representative trade unions on the minimum wage. The interlocutors assessed that it is necessary to achieve a sustainable solution that will ensure further growth of wages, while preserving the competitiveness of the economy and macroeconomic stability.

The prime minister assessed that the Government of Serbia will continue to lead a responsible economic policy, aimed at preserving financial stability, accelerating reform processes, implementing development projects and improving the quality of life of all citizens.

(Telegraf.rs)