Mali: Better Standard, Economic Growth and Increased Progress | Economy

November 28, 2018 10h08> 11:12 |

Finance Minister Sinisa Mali said today that the budget for 2019 as well as all the reform laws would further improve the standard of living, economic growth and even more intensive progress. Serbia.

Finance Minister Sinisa Mali said today that the budget for 2019 as well as a set of reform laws would help further improve living standards, economic growth and even more intensive progress. Serbia.

The Serbian Parliament in Mali, explaining next year 's budget, said the proposed solution for the republic' s fund was balanced because, he said, it was characterized by a social aspect linked to the state of the economy. increased standard of living, accompanied by an increase in wages and pensions, as well as development. capital investment record, which will encourage further GDP growth.

According to him, the set of law projections allows the economic downturn, thanks to the facilities that will allow it to be even more attractive and competitive.

The budget provides for total revenues of RSK 1,246.2 billion and RSD 1,269.1 billion, giving a projected deficit of RSD 22.9 billion or 0.4 percent of the total. GDP.

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Real GDP was projected at 3.5% and average inflation at 2.3%, added Mali.

He pointed out that the following year's budget was the result of the continuation of the reform process started in 2014, which, according to him, resulted in a brilliant year of 2018 during which excellent results were obtained economically.

Mali said that during the first nine months of this year, the economic growth rate of 4.5% had been achieved and that economic activity had recorded intensive growth throughout the year. 39; year.

The finance minister said the unemployment rate at the end of the second quarter of this year rose to 11.9% and was more than halved compared to 2012, when it was at 25.5%.

"Youth unemployment has been reduced from 51.1% to 27.5%, which is particularly encouraging since employment growth is entirely the result of employment in the private sector, while number of employees in the public sector is reduced, "said Mali.

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According to him, the ongoing reform processes, based on a solid foundation of fiscal and monetary stability, reinforce the attractiveness of the economy for foreign investors and thus open the way for the transfer of knowledge and technology.

He pointed out that this year's budget situation was better than expected and that, by the end of September, the surplus at the general government level had risen to 54.5 billion dinars, while In the republic's budget, the surplus had been realized up to 61.1 billion dinars. .

Mali said at the end of the year, the budget will be 0.6 percent of GDP, about 28 billion dinars.

"As regards public debt, it is steadily declining and accounted for 56.6% of GDP at the end of October. At the end of 2015, public debt amounted to 70% of GDP. Thanks to good fiscal results, the rate of decline in the ratio of public debt to GDP is higher than expected. A level close to the level of 50% of GDP should therefore be reached in early 2019, "said Mali.

He added that the backbone of fiscal and fiscal policy for the coming year was economic easing, stimulating growth and jobs, and abandoning so-called crisis measures. as part of the fiscal consolidation program.

Mali has announced an increase in salaries in the Serbian public sector between 7% and 12%. For wages, the budget amounts to 294.4 billion RSD, or about 33 billion dinars more than in 2018.

"I am particularly pleased with the expected increase in salaries of health workers, police officers, soldiers, teachers … ", said Mali.

Medical and dental technicians could expect a maximum increase of 12%, while medical doctors and dentists would earn more than 10%, while employees of the departments of the Interior, the BIA and Defense would be 9%.

Mali adds that the increase in pensions and salaries has been achieved in accordance with the financial consolidation measures implemented, while increasing I the minimum price of labor which, according to him, makes it possible to further reduce the social gap.

Capital investments will rise to 220 billion dinars, 43 billion more than 2018.