MINIĆ: SRPSKA'S MAJOR INVESTMENT CYCLE SHOWING RESULTS

FOČA, JULY 17 /SRNA/ - Republika Srpska Prime Minister Savo Minić has stated today in Foča that the major investment cycle launched by Republika Srpska is beginning to produce visible results, reflected in GDP growth, higher public revenues and rising employment.

"At a complex moment globally, when major companies are laying off workers, Republika Srpska has 1,300 more people employed. The increase in public revenues is proof of higher consumption and greater circulation of money," Minić told reporters.

He reminded that Republika Srpska had introduced a series of measures which, alongside the lifting of sanctions, efforts to counter the narrative portraying Serbs as "the bad guys", presenting what he described as the true picture of the Serbian people, and maintaining ties with the Russian Federation, the United States, Israel and others, had begun to improve the entity's economic indicators.

"We reduced social security contributions from 33% to 31%, cut personal income tax from 10% to 8%, kept the corporate profit tax at 10%, and increased the tax-free portion of wages from BAM 800 to BAM 1,000," Minić emphasized.

According to him, these measures amount to indirect annual support of BAM 500 million.

"The Government has extended the decision, which had been due to expire, to continue subsidizing fuel by 10 pfennigs per liter. That is not insignificant - it amounts to more than BAM three million a month. However, because of the renewed escalation of the conflict in the Middle East over the past five days, we do not want our citizens to feel the consequences to the extent they would without the Government's decision," Minić said.

He also referred to yesterday's Government decisions concerning consumer goods and basic foodstuffs.

"We have also accommodated employers who operate only one retail store in Republika Srpska and helped them stay in business. A great deal has been done, and I am pleased that we now have concrete indicators showing that what we have been talking about is becoming reality," Minić said.