2008 budget by end of October

Serbia's 2008 economic policy memorandum will be presented next week, officials say. A draft Law on Budget for next year through October will also be released, State Secretary with the Ministry of Finance Janko Guzijan announced Tuesday. 2008 budget by end of October Guzijan addressed the Economic Summit Serbia 2007 when he said the government will try to lower public spending by some 1.2 percent next year, with a somewhat smaller budget that that in 2007. During next year, foreign debt will also be lowered, to ensure better credit rating for the country. But the existing tax policy will not change in 2008, even though amendments to laws on public procurement, insurance, customs, budget system, as well as those regulating money laundering and financing terrorism will be introduced. Most domestic economic experts, as well as World Bank representatives and those from the IMF, have warned Serbia that the fiscal policy next year will have to be restrictive when it comes to public spending, if the country wished to sustain its macroeconomic stability.

2008 budget by end of October

Guzijan addressed the Economic Summit Serbia 2007 when he said the government will try to lower public spending by some 1.2 percent next year, with a somewhat smaller budget that that in 2007.

During next year, foreign debt will also be lowered, to ensure better credit rating for the country.

But the existing tax policy will not change in 2008, even though amendments to laws on public procurement, insurance, customs, budget system, as well as those regulating money laundering and financing terrorism will be introduced.

Most domestic economic experts, as well as World Bank representatives and those from the IMF, have warned Serbia that the fiscal policy next year will have to be restrictive when it comes to public spending, if the country wished to sustain its macroeconomic stability.