"NIS profit money disappeared"

Instead of at least EUR 25-30mn expected by the government, not even one cent of the NIS profits will go to the state budget this year. This is according to an article dubbed "exclusive", and published by the Belgrade Ekonomist magazine, which explains that the oil monopoly, recently acquired by Russia's Gazprom, reported a loss for 2008. "NIS profit money disappeared" The government accepted the news with disbelief, the magazine writes. NIS reported profits of EUR 100mn in the first half of last year, to now record a loss – and if this turns out to be true, the state budget won’t receive any money from that source. From 2002 until 2007, NIS regularly posted profits ranging from RSD 2.2. to 6.6bn. This information was received at the government headquarters "like a bolt from the blue", according to the article, "especially because the budget is already facing problems regarding the decreasing revenues from collection of other tax incomes". Meanwhile, Finance Minister Diana Dragutivnovic maintains that according to her information, NIS achieved profits last year, that should be a part of the budget. "Several days ago I received information that a new final reports surfaced where NIS suffered losses in 2008. We looked into the items which were changed, and the government will make a statement over this," said the minister. Dragutinovic also added that her ministry "certainly did not order the final report to be changed". "This was probably initiated by the new owner," she was quoted as saying.

"NIS profit money disappeared"

The government accepted the news with disbelief, the magazine writes.

NIS reported profits of EUR 100mn in the first half of last year, to now record a loss – and if this turns out to be true, the state budget won’t receive any money from that source.

From 2002 until 2007, NIS regularly posted profits ranging from RSD 2.2. to 6.6bn.

This information was received at the government headquarters "like a bolt from the blue", according to the article, "especially because the budget is already facing problems regarding the decreasing revenues from collection of other tax incomes".

Meanwhile, Finance Minister Diana Dragutivnović maintains that according to her information, NIS achieved profits last year, that should be a part of the budget.

"Several days ago I received information that a new final reports surfaced where NIS suffered losses in 2008. We looked into the items which were changed, and the government will make a statement over this," said the minister.

Dragutinović also added that her ministry "certainly did not order the final report to be changed".

"This was probably initiated by the new owner," she was quoted as saying.