Serbia: Lazar Krstic outlines new austerity reforms

Serbia announced plans on the 8 October 2013 to cut public sector wages by as much as a quarter, as part of wide-ranging austerity measures. The reform package also included raising taxes and slashing subsidies for loss-making companies.

Finance Minister Lazar Krstic said Serbia would be bankrupt within two years if it did not take action now.

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