Q:
A:
Bill on public enterprises adopted
Belgrade,
20 November 2012
Minister of Finance and Economy Mladjan Dinkic said today that talks between the Serbian government and the International Monetary Fund (IMF) on the conclusion of a new agreement will be continued in spring, but added that no exact dates have been set yet.
Speaking at a press conference held after a government meeting, Dinkic pointed out that it was agreed today to wait for the final data on the Serbian budget for 2012 in order to give a more precise assessment of the budget for the coming year.
The Minister said that recent data show that the situation in the budget is better than the one anticipated by the budget revision and that Serbia will not need financial assistance from the IMF next year.
According to Dinkic, if Serbia signs a deal with the IMF, it will be a three-year precautionary arrangement.
He stressed that Serbia needs an arrangement with the IMF because of the credibility that will affect the country's credit rating.
He said that he is very pleased with the results of discussions with the IMF, adding that there are a number of things about the IMF agreement that provide a basis for optimism.
Dinkic said that Serbia does not need IMF money for the state budget or foreign exchange reserves, but it does need support from this financial institution to boost its credibility and credit rating.
The Minister said that due to the implemenation of the fiscal consolidation programme, Serbia will have at least RSD 20 billion less than planned by the budget revision.
This gave grounds to amendments to the 2013 budget bill, increasing the planned tax revenue by RSD 10 billion and decreasing other revenue by RSD 9 billion on account of lower dividends from public companies, said Dinkic.
The RSD 1 billion difference will be used for strengthening social security programmes, he said.
Dinkic said that the Serbian government at its session today also adopted a bill on public enterprises, which provides professionalisation of their management, as well as the appointment of directors in public tenders, noting that this is a systemic law.
He explained that under this law, public companies will be managed by professionals, who will be able to party officials.
The bill provides for the abolition of boards of public companies because the state will withraw from management and will assume a supervisory role.
The Minister said that recent data show that the situation in the budget is better than the one anticipated by the budget revision and that Serbia will not need financial assistance from the IMF next year.
According to Dinkic, if Serbia signs a deal with the IMF, it will be a three-year precautionary arrangement.
He stressed that Serbia needs an arrangement with the IMF because of the credibility that will affect the country's credit rating.
He said that he is very pleased with the results of discussions with the IMF, adding that there are a number of things about the IMF agreement that provide a basis for optimism.
Dinkic said that Serbia does not need IMF money for the state budget or foreign exchange reserves, but it does need support from this financial institution to boost its credibility and credit rating.
The Minister said that due to the implemenation of the fiscal consolidation programme, Serbia will have at least RSD 20 billion less than planned by the budget revision.
This gave grounds to amendments to the 2013 budget bill, increasing the planned tax revenue by RSD 10 billion and decreasing other revenue by RSD 9 billion on account of lower dividends from public companies, said Dinkic.
The RSD 1 billion difference will be used for strengthening social security programmes, he said.
Dinkic said that the Serbian government at its session today also adopted a bill on public enterprises, which provides professionalisation of their management, as well as the appointment of directors in public tenders, noting that this is a systemic law.
He explained that under this law, public companies will be managed by professionals, who will be able to party officials.
The bill provides for the abolition of boards of public companies because the state will withraw from management and will assume a supervisory role.
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