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PM says Serbia facing debt crisis

Autor: half
BELGRADE, Sept 7 (Hina) - Serbia must do everything to retain foreign exchange liquidity or it will face bankruptcy, economists are warning with increasing frequency, and Prime Minister Ivica Dacic told reporters on Friday the country faced a debt crisis, debt slavery, and the impossibility to pay salaries and pensions or function normally.

The government will propose anti-crisis measures next week to save a billion euros, Dacic said after a session of the state emergency centre, adding that the debt was believed to be 50 per cent of gross domestic product and that it might rise to 60%.

He said the measures envisaged a budget revision and the adoption of a dozen laws to cut unnecessary state costs and prevent the recession as well as the decline of GDP and industrial output.

Dacic said Serbia would need billions of euros and that it should talk with the International Monetary Fund, Russia, China, Azerbaijan, Switzerland and everyone interested in lending.

Serbia has the highest capital price in the region, the most unstable currency, the lowest salaries, and the conditions of doing business can't be compared to the neighbouring countries, Dacic said, announcing the cancellation of a number of taxes and fees as well as dozens of unnecessary agencies.

(Hina) ha

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