BUSINESS

Tegeltija: Government Will Speed up Process of Returning Wages

The RS Minister of Finance Zoran Tegeltija said that the analysis of the budgetary salary will be the priority of the Ministry while observing the first six months of savings, as well as creating the budget for 2014.

Teteltija said that the RS government will continue to create favorable conditions, particularly economic growth in order to speed up the process of returning wages to the level before reduction.

“A special area of action will be to continue reforms in public administration, which will be primarily reflected in the restructuring of public enterprises in order to establish business endeavors that will operate without loss, but also in abolishing agencies that an analysis of the government has shown to bear no justification for it’’, said Tegeltija for “Večernje Novosti”.

He said that the fiscal stability of the RS and social justice achieved through savings in public spending, but without reduction in social contributions and incentives for the real sector of this economy, which will further reduce net borrowings for the budgetary spending in the previous year from 180 to 90 million KM.

Speaking about the credit obligations of the RS, he said that for repayment obligations to the International Monetary Fund for this year 111 million KM are planned, while so far the latest tranche arrangements with the IMF, the RS withdrew a total of 78 million KM.

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