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Serbia launches sweeping austerity measures to avoid bankruptcy


Serbia

Serbia launches sweeping austerity measures to avoid bankruptcy

Serbia’s government has announced a raft of sweeping austerity measures which it says are necessary to avoid going bankrupt.

There is to be a general public sector salary cut, a rise in VAT and a reduction of state subsidies.

Efforts are also to be made towards clamping down on smuggling and illegal tobacco trafficking.

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