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The Government of the Republic of Serbia

In the service of citizens

Government adopts package of measures to help economy

Belgrade, 12 January 2012

Minister of Economy and Regional Development Nebojsa Ciric said that the government at its session today adopted a package of measures to support the economy with RSD 7 billion.

Nebojsa Ciric

Ciric told a news conference that these measures, despite the need for a restrictive budget this year, show that the majority of programmes of support remained in force, except for subsidised loans.

The Minister said that a package of credit support to the economy through the Development Fund in the amount of RSD 2.5 billion was also adopted today.

The cabinet also adopted a RSD 600 million programme of measures to mitigate the negative effects of the economic crisis which includes assistance to local companies that manufacture trucks, buses and tractors, he said.

A subsidy programme for tourism worth about RSD 2.7 billion was also adopted, Ciric noted.

Milivoje Mihajlovic

The Minister announced that approximately RSD 600 million will be provided to help events such as Exit and Guca festivals, RSD 700 million for the completion of works at Stara Planina, RSD 850 million for the "Ski Resorts of Serbia", as well as RSD 30 million for Palic.

The Minister announced that a decree to stimulate investors through the SIEPA in the amount of about RSD 5 billion will be adopted next week.

Ciric voiced his expectation that an agreement will be reached between the National Bank of Serbia, the government and banks and businesses in terms of concrete measures regarding loan reprogramming and increasing the level of financing by banks.

Director of the Office of Media Relations Milivoje Mihajlovic stated that the government adopted a Bill amending the Law on Value Added Tax (VAT) which proposes tax breaks for citizens who buy their first flats from self-government units under non-profitable terms.

Slobodan Homen

Citizens will be entitled to a VAT refund provided they first pay the price of the flat and the VAT, Mihajlovic said.

State Secretary of Justice and the government’s PR coordinator Slobodan Homen noted that the Bill amending the Criminal Code, envisaging the abolishment of the criminal offence of abuse of official position, will soon be sent to the government for adoption.

In line with the recommendations of the Council of Europe, the offence of abuse of office will be abolished and replaced by new criminal acts of corruption.

He specified that amendments to the Criminal Code envisage a series of new criminal offences with harsh prison sentences in order to effectively combat corruption.