Q:
A:
Budget and public spending not inflationary
Belgrade,
22 August 2007
Serbian Minister of Finance Mirko Cvetkovic said that the Ministry is doing everything to ensure that macroeconomic stability is maintained as it would push up inflation.
Mirko Cvetkovic
Cvetkovic told news agency Tanjug that the budget in the first seven months of the year recorded RSD 47 billion so the budget and public spending are not inflationary.
According to him, base inflation which refers to liberally formed prices is very low and will probably remain so until the end of the year.
As for controlled inflation, there will be certain corrections, Cvetkovic said but noted that he is optimistic about maintaining a low inflation rate.
He positively assessed the work of the Ministry in the first 100 days of work and divided its activities into three groups – budget-related activities, legislation-related activities and activities focused on changing regulations.
The Minister announced the drafting of a new budget and said that these activities will be finished in accordance with law.
According to him, preparations for changing certain draft laws have been completed, including the law on insurance and law on public procurements.
By the end of the year a law on restitution will be adopted as well as a very important set of property-related laws which must be in accordance with the new Constitution, said Cvetkovic highlighting the activities based on increasing efficiency of customs and tax administrations.
The Minister also said that the problem of Agrobanka’s debts has been settled and that several loan agreements have been signed with the World Bank, European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB) for infrastructure projects.
According to him, base inflation which refers to liberally formed prices is very low and will probably remain so until the end of the year.
As for controlled inflation, there will be certain corrections, Cvetkovic said but noted that he is optimistic about maintaining a low inflation rate.
He positively assessed the work of the Ministry in the first 100 days of work and divided its activities into three groups – budget-related activities, legislation-related activities and activities focused on changing regulations.
The Minister announced the drafting of a new budget and said that these activities will be finished in accordance with law.
According to him, preparations for changing certain draft laws have been completed, including the law on insurance and law on public procurements.
By the end of the year a law on restitution will be adopted as well as a very important set of property-related laws which must be in accordance with the new Constitution, said Cvetkovic highlighting the activities based on increasing efficiency of customs and tax administrations.
The Minister also said that the problem of Agrobanka’s debts has been settled and that several loan agreements have been signed with the World Bank, European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB) for infrastructure projects.
-
Belgrade, 21 July 2025Construction of oil pipeline with Hungary to begin early next year
-
Belgrade/Athens, 17 July 2025Serbia continues to align with EU in field of energy
-
Kostolac, 14 July 2025First solar power plant Petka in Kostolac put into trial operation
-
Belgrade, 11 July 2025Potential for improving cooperation with Belarus in many areas
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS