News
10.06.2008.

Ministry of Finance Prepared a Report on Budget Execution in the Past Five Months


Serbian Minister of Finance Mirko Cvetkovic said today that the Government has managed the budget rationally this year, because the deficit in the first five months reached only one billion dinars, as opposed to planned RSD14.8 billion.

Cvetkovic told Tanjug news agency that the Ministry of Finance prepared for the next meeting of the government a report on budget execution in the first five months of the year, which will absolutely prove that the budget was managed rationally.

He reiterated there was no unplanned spending of resources and that the budget was implemented according to the plan adopted by the Serbian Parliament. The minister added that budget revenues from taxes and other fiscal instruments were two percent above the plan.

In 2007, privatization receipts totaled nearly one billion euros. EUR500 million was transferred into 2008, EUR200 million of which was spent on repayment of debts and loans, therefore there are EUR300 million left on the state foreign exchange account, Cvetkovic said.

According to him, this money will be used to pay other liabilities until the end of the year, hence a deficit may arise in September, unless there are some significant privatization revenues.

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