Fiscal Council: Solid foundation laid, no backing down

BELGRADE - During its first year in office, the government of Serbia has built a solid foundation for economic recovery over the medium term, and it is crucial to continue with the austerity measures in the second half of 2015 and in the next two years, Fiscal Council member Vladimir Vuckovic told Tanjug on Tuesday.

Commenting on the Serbian government's results in the first year of work, Vuckovic said that several good moves were made in 2014 - from important reform laws on labor, privatization and bankruptcy, to introducing austerity measures that have laid a solid foundation for medium term economic recovery.

The latest arrangement with the IMF signed early this year is also a good move, as it is expected to contribute significantly to the macroeconomic stability over the next three years, he added.

"The key is for the government to persist and not back down. We have only just started to implement the austerity measures and they must be kept in place throughout 2015 and over the next two years," stressed Vuckovic.

Photo Tanjug Video, camera operator Djordje Spasic