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Kalanovic: Tackling gray economy to provide higher revenues in budget

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Deputy Prime Minister for Economic and Regional Development Verica Kalanovic and members of the delegation of the International Monetary Fund (IMF)  reached an agreement on the need for responsible planning and preparation of the 2012 budget.

Kalanovic reiterated that Serbia must pursue sustainable development and a balanced budget, which means that spending should not be higher than revenues.

She pointed out that only through a synchronised and stronger fight against underground economy can we increase revenues in the budget.

Despite the crisis, Serbia must pursue sustainable development through a clear development policy, which includes allocating a defined percentage for the implementation of infrastructure projects.

She said that the Bill on the 2012 budget should be so conceived to define 5% of the total projected revenues as obligatory funds for infrastructure.

Kalanovic explained that the goal of such budget planning is to further develop infrastructure, because without the development of infrastructure there can be no economic development either.

The Deputy Prime Minister specified that as much as 80% of investments that arrived to Serbia were invested in infrastructure along motorways, which indicates its importance for economic development.

She also underlined that it is necessary to establish a unique procedure for the realisation of infrastructure projects at national, regional and local levels.

This way, better control of budget spending in this field would be secured, Kalanovic explained.



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