Q:
A:
Development oriented budget for 2010
Belgrade,
2 December 2009
Serbian Finance Minister Diana Dragutinovic said today that the budget for 2010 is development oriented and that the state will continue to provide incentives to the economy and for major infrastructure projects.
Speaking at a press conference at which the budget bill 2010 was presented, Dragutinovic said that revenues will stand at RSD 656 billion, expenditure at RSD 763 billion and the deficit is expected to stand at RSD 107 billion.
She said that salary and pension increases in 2010 will be frozen, programmes for providing subsidised loans will be continued and the priority will be the construction of the transport Corridor 10.
She said that there will be no tax increases in 2010 but a few of the new taxes introduced in 2009, such as the mobile phone tax, will be retained in 2010.
The Minister said that the 2010 budget is much more comprehensive and transparent than the previous budget, adding that it was unanimously approved by the government.
She explained that the budget is development oriented because it cuts down on expenditure and provides incentives and funds for large infrastructure projects.
She said that withdrawing incentives for the economy would not be a good step as it could jeopardise recovery.
The Minister said that the 2010 budget bill will be forwarded to parliament today, adding that she hopes that it will be adopted by December 15, as envisaged by law.
She stressed that the budget is the result of the work done by the entire government and is completely in line with the arrangement reached with the IMF.
Dragutinovic said that the government will consider this year’s budget revision within five to six days and there will be no major changes made, considering the fact that revenues will remain at the same level and will only be reallocated.
The Minister said that the budget revision will take into account the government decision to set aside RSD 2.4 billion for the H1N1 vaccine.
She said that the Finance Ministry’s next priority is the adoption of the budget system and fiscal responsibility law, which will be put before the government by March 2010.
Dragutinovic said that the government has withdrawn the final budget balance sheet for 2008 from the parliamentary agenda in order to make adjustments concerning variations in currency values, according to the recommendations of the State Audit Office.
She said that the reviewed balance sheet will be examined at the next government session.
She said that this is good news because according to new adjustments revenues were under-calculated by RSD 1.2 billion and the budget deficit was over-calculated.
She said that salary and pension increases in 2010 will be frozen, programmes for providing subsidised loans will be continued and the priority will be the construction of the transport Corridor 10.
She said that there will be no tax increases in 2010 but a few of the new taxes introduced in 2009, such as the mobile phone tax, will be retained in 2010.
The Minister said that the 2010 budget is much more comprehensive and transparent than the previous budget, adding that it was unanimously approved by the government.
She explained that the budget is development oriented because it cuts down on expenditure and provides incentives and funds for large infrastructure projects.
She said that withdrawing incentives for the economy would not be a good step as it could jeopardise recovery.
The Minister said that the 2010 budget bill will be forwarded to parliament today, adding that she hopes that it will be adopted by December 15, as envisaged by law.
She stressed that the budget is the result of the work done by the entire government and is completely in line with the arrangement reached with the IMF.
Dragutinovic said that the government will consider this year’s budget revision within five to six days and there will be no major changes made, considering the fact that revenues will remain at the same level and will only be reallocated.
The Minister said that the budget revision will take into account the government decision to set aside RSD 2.4 billion for the H1N1 vaccine.
She said that the Finance Ministry’s next priority is the adoption of the budget system and fiscal responsibility law, which will be put before the government by March 2010.
Dragutinovic said that the government has withdrawn the final budget balance sheet for 2008 from the parliamentary agenda in order to make adjustments concerning variations in currency values, according to the recommendations of the State Audit Office.
She said that the reviewed balance sheet will be examined at the next government session.
She said that this is good news because according to new adjustments revenues were under-calculated by RSD 1.2 billion and the budget deficit was over-calculated.
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