BELGRADE, Jan 17 (Reuters) – Serbia’s Finance Ministry said
on Friday it would insist on the implementation and broadening
of economic reforms, responding to a ratings downgrade by Fitch
that will feed into calls by some in the government for a snap
The agency said it had cut Serbia’s long-term local and
foreign currency ratings from BB- to B+ with stable outlook,
citing a rise in the country’s consolidated budget deficit to
7.1 percent of output and delays to much-needed reforms.
BELGRADE (Reuters) – Serbia will hold a snap parliamentary election in March as the co-ruling Serbian Progressive Party (SNS) seeks to cash in on rising poll numbers, the Politika daily reported on Thursday.
A spokesman for the government declined to comment on the report, which follows weeks of mounting speculation that the Balkan country is heading for a second election in less than two years as the coalition tussles over the pace of economic reform and a battle to root out corruption.
BELGRADE (Reuters) – Two former Serbian state security agents were detained on Tuesday over the killing of opposition newspaper publisher and journalist Slavko Curuvija during the rule of strongman president Slobodan Milosevic in 1999.
The arrests arose from a series of investigations, led by the deputy prime minister, into politically-tinged organized crime and corruption as Serbia seeks to improve democratic credentials needed for entry into the European Union.
VIENNA/BELGRADE, Jan 14 (Reuters) – Serbia needs to reform
its bloated public sector and pass changes to key laws to secure
growth in the future, Economy Minister Sasa Radulovic said on
Tuesday, adding that failure to do so could lead to early
Radulovic told the Reuters Global Markets Forum, an internet
chatroom, in Vienna that changes to laws on labour,
privatisation and bankruptcy were key for the country, which is
trying to kick start economy.
BELGRADE (Reuters) – One of the Balkans’ richest men went on trial on Thursday in a high-profile case that the Serbian government says is a long-overdue drive to end more than two decades of lawlessness.
Miroslav Miskovic, who created a retail, insurance and real estate empire through the collapse of Yugoslavia in the 1990s and Serbia’s emergence from isolation, faces up to 10 years in jail if found guilty on charges of fraud and tax evasion.
BELGRADE, Nov 8 (Reuters) – Serbia plans to abolish
incentives for new foreign investment from 2014 to help its
budget and the state agency tasked with attracting investors
will shut down, the economy minister said on Friday.
Serbia is trying to cut spending and contain the 2014
shortfall at 4.6 percent of gross domestic product (GDP), as
envisioned in the draft budget.
MITROVICA, Kosovo (Reuters) – Widespread intimidation in a volatile Serb pocket of Kosovo marred a watershed election on Sunday, part of a European Union-brokered rapprochement between the Balkan country and its former master Serbia.
The Kosovo-wide council and mayoral elections are central to an agreement reached in April to integrate Serb-populated northern Kosovo with the rest of the country, which is majority Albanian and declared independence from Serbia in 2008.
BELGRADE/ABU DHABI (Reuters) – From animal feed to missiles and loans, Serbia is banking on an unlikely alliance with the United Arab Emirates to upgrade its vital farming industry, revive military production and get badly needed cheaper finance.
For the UAE, the new relationship offers an early back door route into the European Union, which Belgrade wants to join, and access to the former Yugoslavia’s once mighty arms industry while much of the Middle East is consumed by unrest or war.
BELGRADE, Oct 8 (Reuters) – Serbia’s new Finance Minister
Lazar Krstic intends to cut the government’s budget deficit to 2
percent of GDP in the next 3-4 years and save 1.5 billion euros
by 2017 to avert default, he said on Tuesday.
The Socialist-led government will raise value-added tax
(VAT) tax on some goods to 10 percent, up from the current 8
percent, end subsidies to unprofitable state companies, cut
wages in the public sector and plug revenue holes such as black
markets in tobacco and oil derivatives, Krstic said.
BELGRADE (Reuters) – Serbia’s government delayed detailing painful spending cuts for a day while the country’s prime minister visited Brussels on Monday to tackle a problem over Kosovo that could delay talks on eventual EU entry.
Last week, powerful Deputy Prime Minister Aleksandar Vucic, who heads the Serbian Progressive Party, the senior partner in the coalition government, had said spending cuts would be announced on Monday.