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A:
Finance Ministry to propose budget revision by end-October
Belgrade,
24 September 2004
Serbian Minister of Finance Mladjan Dinkic said that a budget revision, which the Ministry is due to propose to the parliament by the end of October, stipulates a 26 billion dinar reduction in spending.
Serbian Minister of Finance Mladjan Dinkic (second from left)
Author:
Fonet
Addressing a parliament finance committee’s session today, Dinkic said that the government will meet its revenue target this year and keep the projected gap below 30 billion dinars.
GDP will grow around 8 percent in 2004, the Minister added.
According to him, budget revenue from January to August climbed 21 percent year-on-year, to 207 billion dinars, while spending amounted to 225 billion dinars. The eight-month deficit stood at 17.6 billion dinars, compared with 25 billion dinars in the same period of 2003.
The increase in revenue was largely fuelled by a growth in GDP and better collection of taxes, Dinkic added.
Noting that spending started to decrease in July due to a new policy of saving, Dinkic said that state subsidies will reach 6.5 billion dinars by the end of the year. He went on to announce a cut in subsidies, new restructuring and privatisation efforts, as well as a lasting solution to the problem of funding the national television.
GDP will grow around 8 percent in 2004, the Minister added.
According to him, budget revenue from January to August climbed 21 percent year-on-year, to 207 billion dinars, while spending amounted to 225 billion dinars. The eight-month deficit stood at 17.6 billion dinars, compared with 25 billion dinars in the same period of 2003.
The increase in revenue was largely fuelled by a growth in GDP and better collection of taxes, Dinkic added.
Noting that spending started to decrease in July due to a new policy of saving, Dinkic said that state subsidies will reach 6.5 billion dinars by the end of the year. He went on to announce a cut in subsidies, new restructuring and privatisation efforts, as well as a lasting solution to the problem of funding the national television.
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