Resources to be recovered by valorization

The regular regional summit of finance ministers and governors concerning the financial future of the region organized by the Belgrade-based weekly NIN has begun in Becici, Montenegro, on Friday.

The summit, with Tanjug News Agency as the media sponsor, lasts until June 13 and it covers all important parameters of economic and fiscal growth and development, as well as tax administration reform and fight against gray economy.

Host of the Summit, Montenegrin Finance Minister Radoje Zugic said that that the most important thing for the region at the moment is valorization od resources as soon as possible. He pointed out that the public finance of Montenegro stable.

Serbian Minister of Finance Dusan Vujovic said Friday that the country’s deficit in May had been 1.6 percent of GDP and that he expected it to be two percent of GDP, or RSD 40 billion (EUR 1 = RSD 120.4), in June.

Vujovic said that the deficit planned for the end of 2015 was RSD 119 billion, but he expected it not to go over RSD 114 billion.

He reiterated that the state could not be the most important source of employment, but that the private sector must take that role.

At the Summit in Budva, also participate Minister of Finance of the Federation of Bosnia and Herzegovina Jelka Milicevic, Minister of Finance of Kosovo Avdulah Hoti, as well as the Minister of Finance of BiH Entity RS Zoran Tegeltija.

Izvor: RTV Montenegro