The new members of the government, which will have 18 ministries, are expected to be approved by the National Assembly on Friday and sworn in on Saturday.

The nomination of 29-year-old Lazar Krstic, a U.S.-educated McKinsey consultant, as the new Minister of Finance has attracted the most media attention regarding the reshuffle. Yale graduate Krstic has already announced painful cutbacks and austerity measures in the state budget promising that palpable results of such policy could be expected soon.

Vanja Udovicic, a famous water polo player, has been nominated as Minister of Youth and Sports by both the Serbian Progressive Party and the Socialist Party of Serbia, the two leading parties in the governing coalition.