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Serbia officially in recession, fiscal consolidation announced

Autor: vmic
BELGRADE, Aug 8 (Hina) - Serbia is in a recession, because its GDP fell by 1.3 per cent in the first quarter and continued its decline by 0.6 per cent in the second quarter, Serbian Finance Minister Mladjan Dinkic told a press briefing in Belgrade on Wednesday, announcing a fiscal consolidation, including an increase of the VAT rate from the present 18 per cent most likely to 20 per cent.

(Hina) vm

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