Budget "balanced for most part"

Finance Minister Mirko Cvetković on Thursday submitted his budget report on the first five months of this year.

Izvor: Tanjug

Thursday, 12.06.2008.

19:26

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Finance Minister Mirko Cvetkovic on Thursday submitted his budget report on the first five months of this year. An analysis shows that the budget was balanced for the most part, but that spending "below the line," including payments outside regular expenditure, would create a deficit of between RSD 30 and 35bn. Budget "balanced for most part" Therefore, the Finance Ministry has proposed a way to ensure additional funds to cover the deficit, with an issue of bonds, Cvetkovic told a news conference after the government session today. "The debt of the state on this basis will be neutral from the aspect of public debt," the minister said and added that this deficit would occur due to a shortage of income from privatization this year. Cvetkovic said that the balanced character of the budget was reflected primarily in the fact that in the first five months of this year, the current segment of the budget had an income of RSD 253bn, while spending amounted to RSD 254bn, resulting in RSD 1bn of deficit. He continued that this showed the budget was "well planned and no problems should be expected there by the end of the year". An income of about RSD 12.7bn is expected from privatizations by the end of the year and about RSD 40.2bn from the budget deposit, but some RSD 35bn (approximately EUR 430mn) would still be lacking.

Budget "balanced for most part"

Therefore, the Finance Ministry has proposed a way to ensure additional funds to cover the deficit, with an issue of bonds, Cvetković told a news conference after the government session today.

"The debt of the state on this basis will be neutral from the aspect of public debt," the minister said and added that this deficit would occur due to a shortage of income from privatization this year.

Cvetković said that the balanced character of the budget was reflected primarily in the fact that in the first five months of this year, the current segment of the budget had an income of RSD 253bn, while spending amounted to RSD 254bn, resulting in RSD 1bn of deficit.

He continued that this showed the budget was "well planned and no problems should be expected there by the end of the year".

An income of about RSD 12.7bn is expected from privatizations by the end of the year and about RSD 40.2bn from the budget deposit, but some RSD 35bn (approximately EUR 430mn) would still be lacking.

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