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The Government of the Republic of Serbia

In the service of citizens

More funds for projects within National Investment Plan

Belgrade, 22 February 2007

Coordinator in the Serbian Ministry of Finance Milan Parivodic said today that the government at its session today adopted a Decree amending the Decree on interim financing of the Republic of Serbia for the period January-March 2007, according to which funds set aside for projects within the National Investment Plan will be increased from RSD 15.46 billion to RSD 19.55 billion.

Milan Parivodic at today's press conference

Parivodic told a press conference that the Decree on interim financing was adopted in December, and within its framework funds for the National Investment Plan are envisaged for particular items in individual projects.

Considering the fact that conditions for carrying out construction works were favourable during the previous three months, a disproportion appeared between what was planned within the framework of the National Investment Plan and that which was realised, explained the Minister.

He pointed to the fact that due to that it was necessary to carry out a revision of the Decree, so that funds could be directed towards projects which are functioning well.

The funds mentioned have been secured from privatisation proceeds transferred from the previous year, stressed Parivodic and added that the National Investment Plan is working well and there are no obstacles in realisation of projects.

According to Parivodic, funds have been set aside for concrete projects and individually for each ministry which is conducting the National Investment Plan projects, and in 2006 a total of RSD 2.26 billion was spent for these projects, while in 2007 the sum spent was some RSD 439.9 million.

Parivodic said that macro economic indicators for 2006 are very good, specifying that foreign direct investment in Serbia stood at $5.4 billion, while Serbia's investment abroad stood at $1.2 billion.

The Minister said that inflation in January 2007 was 0.4%, while the growth of retail prices was 0.5%. He said that budgetary revenues are stable and that the state pays all its obligations regularly.