Finance minister presents revision draft

The 2010 budget revision is the government wish to strike a balance between stimulating the economy and achieving social cohesion, says the finance minister. Presenting the budget revision at the Serbian parliament, Diana Dragutinovic pointed out that it envisages a budget deficit of RSD 120bn, since expenditures add up to RSD 780bn, while revenues total RSD 660bn. Finance minister presents revision draft The minister underscored that the revision is in keeping with the agreement made with the International Monetary Fund, which requires that the consolidated deficit at state level does not overstep 4.8 percent of the country's GDP in 2010. Dragutinovic stated that this is the sixth budget revision that the Serbian government has done over the last 28 months with the aim of adapting to altered circumstances. She noted that Serbian economy is recovering, as shown by the growth rate, and qualified as favorable the fact that the economic growth structure is changing and that the contribution of export-oriented industries has become a major factor in the growth structure. With announcements that the Liberal-Democrats would not vote in favor of the draft, the ruling coalition will have to turn to either independent MPs or the Alliance of Vojvodina Hungarians (SVM). SVM leader and MP Balint Pastor said yesterday ahead of the debate that the draft was illegal and unconstitutional, but that if the the ruling coalition needed their support, his party would vote in favor of passing the revision. Diana Dragutinovic (Tanjug, file)

Finance minister presents revision draft

The minister underscored that the revision is in keeping with the agreement made with the International Monetary Fund, which requires that the consolidated deficit at state level does not overstep 4.8 percent of the country's GDP in 2010.

Dragutinović stated that this is the sixth budget revision that the Serbian government has done over the last 28 months with the aim of adapting to altered circumstances.

She noted that Serbian economy is recovering, as shown by the growth rate, and qualified as favorable the fact that the economic growth structure is changing and that the contribution of export-oriented industries has become a major factor in the growth structure.

With announcements that the Liberal-Democrats would not vote in favor of the draft, the ruling coalition will have to turn to either independent MPs or the Alliance of Vojvodina Hungarians (SVM).

SVM leader and MP Balint Pastor said yesterday ahead of the debate that the draft was illegal and unconstitutional, but that if the the ruling coalition needed their support, his party would vote in favor of passing the revision.