Amendments to Law on Budget System
The Serbian government approved at a phone session on Friday the amendments to the Law on the Budget System.
Saturday, 18.09.2010.
11:59
The Serbian government approved at a phone session on Friday the amendments to the Law on the Budget System. These were proposed by the Ministry of Finance and designed to improve the management of public finance and strengthen fiscal responsibility, the Ministry of Finance said in a statement. Amendments to Law on Budget System The amendments will be sent to the parliament for an expedited vote, reads the statement. The amendments to the Law on the Budget System contain "the principles, rules and procedures designed to strengthen fiscal responsibility, which should help improve the management of public finance and ensure long-term fiscal policy sustainability." "Introducing fiscal regulations will boost the country's credit rating and allow significant savings, which will lead to a stable, predictable and sustainable fiscal policy." "By passing this regulation, the Serbian government is fulfilling the obligations undertaken during its recent talks with the International Monetary Fund, and by implementing the regulation Serbia will also meet EU membership requirements." "The new provisions introduce general and specific fiscal rules. The general rules regulate that the annual fiscal deficit in the medium term should average one percent of the GDP," notes the Ministry of Finance.
Amendments to Law on Budget System
The amendments will be sent to the parliament for an expedited vote, reads the statement.The amendments to the Law on the Budget System contain "the principles, rules and procedures designed to strengthen fiscal responsibility, which should help improve the management of public finance and ensure long-term fiscal policy sustainability."
"Introducing fiscal regulations will boost the country's credit rating and allow significant savings, which will lead to a stable, predictable and sustainable fiscal policy."
"By passing this regulation, the Serbian government is fulfilling the obligations undertaken during its recent talks with the International Monetary Fund, and by implementing the regulation Serbia will also meet EU membership requirements."
"The new provisions introduce general and specific fiscal rules. The general rules regulate that the annual fiscal deficit in the medium term should average one percent of the GDP," notes the Ministry of Finance.
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