Q:
A:
2005 Budget surplus amounts to approximately 28 billion dinars
Belgrade,
5 January 2006
Serbian Minister of Finance Mladjan Dinkic said today that in 2005, the government has posted a budget surplus of approximately 28 billion dinars, or about 1.6% GDP, and transferred a budgetary reserve of €330 million into 2006.
Mladjan Dinkic
At a press conference held at the Serbian government building, Dinkic specified that the total 2005 budget revenues stand at 418.4 billion dinars, and expenditure at 391.6 billion dinars.
He said that the recorded surplus implies that public spending in 2005 was reduced by 2.7% GDP, and added that out of €330 million of budget reserves, around €55.3 million will go to the Restitution Fund.
Dinkic explained that the government expects that the bill on restitution of property confiscated after the Second World War will be adopted this year, so that the Restitution Fund could use its funds as compensation in case the confiscated property cannot be returned to the owner. He recalled that the deadline for reporting any sequestered property is the first half of 2006.
According to Dinkic, the country's foreign currency reserves in late December 2005 were approximately $5.9 billion, though this figure has risen by about $600 million in December 2005 alone.
Dinkic announced that a tender for issuing the operating licence for 063 mobile phone network, previously operated by Mobtel, will be called in the first half of 2006.
He explained that Mobtel has not been nationalised, only that the company's licence for operating the mobile phone network has been revoked, but that it can still do business in other sectors.
Dinkic announced that around €1 million in revenues from Mobtel is being paid daily into the temporary account with the National Bank of Serbia (NBS), and added that the money will be used to pay out dividends to Serbia's postal company PTT Srbija, then for salaries of Mobtel's employees, and to cover the expenses of Mobtel's provisional administrator Telekom Srbija.
Dinkic recalled that the principal amount of the debt based on Mobtel's dividends is €28 million, which is €50 million with interest. The government is determined not to let anyone make a fortune at the state's expense, he said adding the government also aims to collect the money both from the dividends acknowledged by Mobtel itself and for the total damage that Mobtel incurred to the state by its actions.
He announced that a compensation of at least €700 million will be demanded from Mobtel through the court of law, adding that he hopes the judiciary will be efficient in this matter.
He said that the recorded surplus implies that public spending in 2005 was reduced by 2.7% GDP, and added that out of €330 million of budget reserves, around €55.3 million will go to the Restitution Fund.
Dinkic explained that the government expects that the bill on restitution of property confiscated after the Second World War will be adopted this year, so that the Restitution Fund could use its funds as compensation in case the confiscated property cannot be returned to the owner. He recalled that the deadline for reporting any sequestered property is the first half of 2006.
According to Dinkic, the country's foreign currency reserves in late December 2005 were approximately $5.9 billion, though this figure has risen by about $600 million in December 2005 alone.
Dinkic announced that a tender for issuing the operating licence for 063 mobile phone network, previously operated by Mobtel, will be called in the first half of 2006.
He explained that Mobtel has not been nationalised, only that the company's licence for operating the mobile phone network has been revoked, but that it can still do business in other sectors.
Dinkic announced that around €1 million in revenues from Mobtel is being paid daily into the temporary account with the National Bank of Serbia (NBS), and added that the money will be used to pay out dividends to Serbia's postal company PTT Srbija, then for salaries of Mobtel's employees, and to cover the expenses of Mobtel's provisional administrator Telekom Srbija.
Dinkic recalled that the principal amount of the debt based on Mobtel's dividends is €28 million, which is €50 million with interest. The government is determined not to let anyone make a fortune at the state's expense, he said adding the government also aims to collect the money both from the dividends acknowledged by Mobtel itself and for the total damage that Mobtel incurred to the state by its actions.
He announced that a compensation of at least €700 million will be demanded from Mobtel through the court of law, adding that he hopes the judiciary will be efficient in this matter.
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