New measures of Serbian government in effect as of 1 January 2014?

Most of the Serbian government's measures will come into effect on 1 January 2014, Tanjug cites unofficial sources at the Finance Ministry.

There is a chance that certain measures, such as the VAT increase, will be adopted by Serbian MP's before that deadline, people at the ministry explained.

Some of the proposed measures call for amendments or supplements to legislation, which will prolong the start of their implementation.

Energy Minister Zorana Mihajlovic told Tanjug on Tuesday that the Serbian government would adopt certain by-laws and decisions over the next few days, adding that some measures could become effective as early as in few weeks.

Announcing the new measures, Finance Minister Lazar Krstic noted that they should stabilize economy in 2013 and 2014.

According to him, the only thing that is for certain is that the VAT will be increased by 1 January 2014 at the latest.

Six measures for reforming the economy, which were presented by the Serbian government on Tuesday, call for the reduction of salary fund, increase in the VAT rate to 10 percent, decrease in subsidies, savings in the domain of goods and services, cheaper loans, and a different business environment.