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Ministry of Finance prepares budget report
Belgrade,
10 June 2008
Serbian Minister of Finance Mirko Cvetkovic said that the government has been using the budget rationally as the budget deficit in the first five months was only RSD 1 billon, compared to the planned RSD 14.8 billion.
Cvetkovic told the Tanjug news agency that the Ministry has prepared information on budget execution over the past five months for the next government session.
He said that revenues from taxes and other fiscal instruments were 2% higher than planned. In 2007, privatisation revenues totalled nearly €1 billion, €500 million of which was carried over to 2008, of which €200 million has been spent for debt and loan settlement so far, so there is €300 million remaining in the budget’s foreign currency account, Cvetkovic said.
If there is no major privatisation, a deficit may occur in September, he said.
He said that revenues from taxes and other fiscal instruments were 2% higher than planned. In 2007, privatisation revenues totalled nearly €1 billion, €500 million of which was carried over to 2008, of which €200 million has been spent for debt and loan settlement so far, so there is €300 million remaining in the budget’s foreign currency account, Cvetkovic said.
If there is no major privatisation, a deficit may occur in September, he said.
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