IMF awaits decision on Serbian budget

A meeting of the IMF Executive Board dedicated to the first review of the stand-by arrangement with Serbia has been postponed.

Izvor: Tanjug

Wednesday, 28.12.2011.

18:44

Default images

A meeting of the IMF Executive Board dedicated to the first review of the stand-by arrangement with Serbia has been postponed. The meeting, originally scheduled for December 23, was delayed in order to secure additional time for talks on the law on 2012 budget, the Office of the IMF Resident Representative in Belgrade Bogdan Lissovolik said on Wednesday. IMF awaits decision on Serbian budget At the end of last week, Tanjug learned at the IMF headquarters in Washington D.C. that the IMF Board of Directors postponed a decision on the first precautionary arrangement, which Serbia concluded with that financial institution this year, until early January. The IMF and Serbia reached in mid-November an agreement on the first review of the precautionary arrangement worth EUR 1.1 billion, which sets the 2012 budget deficit at 4.25 percent of GDP. If the IMF Board of Directors approves the first review of the arrangement in early January, Serbia will be able to withdraw EUR 190 million. The funds would be a reserve in case of unforeseen difficulties in meeting the outstanding obligations towards foreign partners. The Serbian parliament began a debate on the budget for 2012 on Monday. Presenting the draft budget for 2012, Serbian Prime Minister Mirko Cvetkovic noted that it was drawn up in conditions of slow economic growth and the eurozone crisis. He recalled that the republic budget sets revenues at RSD 750 billion, expenditures at RSD 890 billion, and deficit at RSD 140 billion, which will be mostly covered by loans. Almost the entire deficit will be used for capital investments, and incentives to local demand with the aim of boosting Serbia's economy, Cvetkovic said, adding that social responsibility and reform elements were built into the draft budget for 2012. Tanjug

IMF awaits decision on Serbian budget

At the end of last week, Tanjug learned at the IMF headquarters in Washington D.C. that the IMF Board of Directors postponed a decision on the first precautionary arrangement, which Serbia concluded with that financial institution this year, until early January.

The IMF and Serbia reached in mid-November an agreement on the first review of the precautionary arrangement worth EUR 1.1 billion, which sets the 2012 budget deficit at 4.25 percent of GDP.

If the IMF Board of Directors approves the first review of the arrangement in early January, Serbia will be able to withdraw EUR 190 million.

The funds would be a reserve in case of unforeseen difficulties in meeting the outstanding obligations towards foreign partners.

The Serbian parliament began a debate on the budget for 2012 on Monday.

Presenting the draft budget for 2012, Serbian Prime Minister Mirko Cvetković noted that it was drawn up in conditions of slow economic growth and the eurozone crisis.

He recalled that the republic budget sets revenues at RSD 750 billion, expenditures at RSD 890 billion, and deficit at RSD 140 billion, which will be mostly covered by loans.

Almost the entire deficit will be used for capital investments, and incentives to local demand with the aim of boosting Serbia's economy, Cvetković said, adding that social responsibility and reform elements were built into the draft budget for 2012.

Komentari 3

Pogledaj komentare

3 Komentari

Možda vas zanima

Uništeno; Zelenski: Hvala na preciznosti 8
Svet

Uništeno; Zelenski: Hvala na preciznosti

U ukrajinskom napadu na vojni aerodrom na Krimu u sredu ozbiljno su oštećena četiri lansera raketa, tri radarske stanice i druga oprema, saopštila je danas Ukrajinska vojna obaveštajna agencija.

14:21

18.4.2024.

1 d

Podeli: