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The Government of the Republic of Serbia

In the service of citizens

Government passes temporary budget

Belgrade, 15 March 2007

Serbian Minister of Economy Predrag Bubalo said that the Serbian government adopted at its session today a Decree amending the Decree on interim financing of the Republic of Serbia for the January-March 2007 period and explained that no change in the total amount has been made, but only its distribution.

Predrag Bubalo at today's press conference

Bubalo said in a press conference following the government session that certain expenditures were reduced by nearly RSD 2.5 billion whereas the same amount would be used for some other expenses.

According to Bubalo, the greatest saving of nearly RSD 1.75 billion is with salaries as 12% tax will be applied instead of 14%.

He said that most state institutions spent less than planned for February salaries and that there are fewer civil servants employed when compared with plans.

Further funds were saved because salaries for parliament members were not realised in line with the planned volume, said Bubalo.

He recalled that on December 21 last year, the government adopted a Decree on interim financing for the stated period according to which revenues stood at RSD 130.3 billion and expenditure at RSD 124.9 billion.

According to this Decree, a surplus of RSD 5.5 billion was also envisaged and RSD 15.5 million, that is, €190.9 million will go towards the National Investment Plan, said Bubalo.

He explained that due to a discordant pace in the realisation of certain projects financed from the National Investment Plan, on February 22 this year the government adopted amendments to the Decree on interim financing thus increasing funds for National Investment Plan funded projects from RSD 15.46 billion to RSD 19.55 billion.

The Minister said that at today’s session, the government adopted the Decree on the amount of fees for using waters, water protection and materials taken out from watercourses for 2007 envisaging an increase of 7.5% for these fees, which is in line with the Memorandum of Budget from 2007 to 2009.