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The Government of the Republic of Serbia

In the service of citizens

Excises for oil derivatives, cigarettes increased by 0.9%

Belgrade, 25 January 2007

Serbian Minister of Economy Predrag Bubalo said today that excises for oil derivatives and cigarettes have been increased by 0.9% each because inflation in Serbia in the second half of 2006 was low.

Predrag Bubalo at today's press conference

Bubalo explained at a press conference held after the government session that harmonisation of dinar value of excises according to the Law on excises is linked to the retail prices growth rate, adding that it is good that the inflation in the second half of the last year was low.

On the other hand, when the Tobacco Law is in question, considering the fact that this concerns the annual growth rate of retail prices, excises will be increased by 6.6%, in keeping with annual inflation, explained Bubalo.

The Minister of Economy said that the deadline for signing the concession contract for construction of the Horgos-Pozega highway has been moved because owner of the Spanish company which is part of the consortium “FCC –Alpine Mayreder” has demanded certain additional clarifications, following which it will be possible to sign the contract.

Commenting on the meeting of the Contact Group scheduled to take place in Vienna tomorrow, Bubalo stressed that the government and Serbia have stated their position clearly in the new Constitution, as well as in two resolutions in Serbian parliament, adding that this position will be maintained in the future.