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05. November 2002 |
Salaries, pensions in 2003 to trail GDP growth
BELGRADE - Serbian Finance Minister Bozidar Djelic said on Tuesday that next year salaries and pensions cannot grow more than 5 pct, which is the planned GDP growth, cautioning that unrealistic growth of pays could cause inflation and the devaluation of the dinar.
He said that huge salary increases would lead to a growth of public spending and inflation, that would not be lower than 100 pct, and then to devaluation and general chaos in the economy and in the state. If salaries are to grow gradually, in line with the GDP growth, that will in turn result in the growth of the economy, Djelic said.
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