Q:
A:
2010 budget to bring macroeconomic stability
Belgrade,
11 December 2009
Minister of Finance Diana Dragutinovic said this evening that the 2010 budget will create the basic conditions required for macroeconomic stability and sustainable economic growth after exiting the crisis.
Speaking on the 2010 budget bill in the Serbian Parliament, Dragutinovic said that the budget will contribute to economic recovery during next year.
The Minister said that the budget is development and investment oriented and creates a balance between social and incentive measures.
The 2010 budget also entails greater fiscal responsibility for economic and fiscal policy makers, stressed the Minister. She said that the budget envisages allocations for investments, particularly major infrastructure projects such as the ring road around Belgrade, Corridor 10 and the preparations for the construction of the South Adriatic motorway.
Dragutinovic said that nearly RSD 100 billion will be allocated for incentives.
She said that the Serbian government is determined to implement a policy of monitoring public expenditure in order to respond to the challenges to the country’s economy, adding that the government intends to establish transparent and reliable finance management through public finance reform.
She said that this will make it possible to make new amendments to the Budget System Law and to introduce the institute of financial responsibility. The Minister said that the Serbian economy entered recession in the third quarter of 2008 and that the government’s activities to support the economy stopped further downturn from July this year and led to the reduction of the balance of payments deficit making it much smaller than expected.
She said that the economic crisis highlighted the structural problems in Serbia’s public finance system and the imbalance between revenues and expenditure which cannot be sustained in the long term.
She said that the 2010 budget bill envisages revenues of RSD 656 billion, expenditure of RSD 763 billion and a deficit of RSD 107 billion.
She explained that the budget deficit will be financed with foreign loans, the issuance of state securities and budget funds from last year.
Parliament passed the gender equality law, amendments to the law on the peaceful settlement of labour disputes, the bankruptcy law and amendments to the law on the Bankruptcy Supervision Agency.
The Minister said that the budget is development and investment oriented and creates a balance between social and incentive measures.
The 2010 budget also entails greater fiscal responsibility for economic and fiscal policy makers, stressed the Minister. She said that the budget envisages allocations for investments, particularly major infrastructure projects such as the ring road around Belgrade, Corridor 10 and the preparations for the construction of the South Adriatic motorway.
Dragutinovic said that nearly RSD 100 billion will be allocated for incentives.
She said that the Serbian government is determined to implement a policy of monitoring public expenditure in order to respond to the challenges to the country’s economy, adding that the government intends to establish transparent and reliable finance management through public finance reform.
She said that this will make it possible to make new amendments to the Budget System Law and to introduce the institute of financial responsibility. The Minister said that the Serbian economy entered recession in the third quarter of 2008 and that the government’s activities to support the economy stopped further downturn from July this year and led to the reduction of the balance of payments deficit making it much smaller than expected.
She said that the economic crisis highlighted the structural problems in Serbia’s public finance system and the imbalance between revenues and expenditure which cannot be sustained in the long term.
She said that the 2010 budget bill envisages revenues of RSD 656 billion, expenditure of RSD 763 billion and a deficit of RSD 107 billion.
She explained that the budget deficit will be financed with foreign loans, the issuance of state securities and budget funds from last year.
Parliament passed the gender equality law, amendments to the law on the peaceful settlement of labour disputes, the bankruptcy law and amendments to the law on the Bankruptcy Supervision Agency.
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