Cvetkovic: Drop in budget incomes increases deficit

Wed, 07/04/2012 - 15:45 -- MRS
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The drop in budget incomes has increased Serbian deficit by 35 billion dinars as the economic growth has been lower than planned, said Serbian PM Mirko Cvetković at a panel discussion on Serbia’s economic priorities in the Chamber of Commerce. He explained that the deficit growth was not due to increased spending and expenditures, but was due to a drop in incomes. He recommended that the future government should enter into talks with the IMF immediately upon formation as it is essential that the government should cover the budget deficit by the end of the year.