United States fiscal cliff

Fiscal Council: Deficit RSD 25-30bn in 1st quarter

BELGRADE -- The general government deficit will probably amount to RSD 25-30bn in the first quarter of 2015 considering the surplus of RSD 4.6bn in the first two months.

At the same time the March deficit will stand at around RSD 30 billion, the Fiscal Council has stated.

BELGRADE - The general government deficit will probably amount to RSD 25-30 billion in the first quarter of 2015 considering the surplus of RSD 4.6 billion in the first two months, while the March deficit will stand at around RSD 30 billion, the Fiscal Council has stated.

The Head of European Support Mechanism (ESN) Klaus Regklingk warns that the public finances in Greece are deteriorating and that Greece could even have a primary deficit.

BELGRADE - Serbia registered an unusually high general state surplus of RSD 16.6 billion in January, and the Fiscal Council says that the achieved result is in line with the planned fiscal framework for this year.

By Roula Salourou

The government will lay the groundwork to reform the social security system this year, according to statements made to Kathimerini by Alternate Social Security Minister Dimitris Stratoulis.

Bulgaria's move to take on new external borrowings will provide for its financial stability in the next three years, Finance Minister Vladislav Goranov has said.

In a Sunday interview for the Bulgarian National Radio, he has opined that, under the conditions of "super liquid markets" the act of piling up new debt could actually be carried out in favourable circumstances.

Romania's aggregate consolidated budget for the coming year is built on a 2.5 pct economic growth, with the gross domestic product estimated at 709.681 million lei; the budget deficit is set at 13.004 million lei or 1.8 pct of GDP, according to the macroeconomic indicators of the budget construction published by the Public Finance Ministry.