2011 draft state budget deadline expiring

The Ministry of Finance has told B92 that the draft 2011 budget will be sent to parliament on time, while the government said it will discuss the bill tomorrow. However, the ministry officials would not reveal what the draft would contain. 2011 draft state budget deadline expiring Some earlier statements made by Finance Minister Diana Dragutinovic suggest that "there will be money for (increased) salaries and pensions", says our reporter, while "some municipalities can hope for more funds". Chairman of the Parliamentary Committee on Finance Vlajko Senic could not confirm that the draft would reach MPs withing the legal deadline. Senic told B92 that he thought the stumbling block might be the projected deficit of four percent GDP, and higher-than-planned inflation, "which will prompt necessary harmonization related to the Law on Fiscal Responsibility". According to the agreement Serbia has with the IMF, salaries and pensions paid from the state budget will be increased come January, by the six-month inflation figure. The increase in April will amount to the three-month inflation and half the GDP growth. Meanwhile, the National Bank of Serbia stated on Tuesday that the government should send its proposal for the 2011 budget to parliament by December 15, and that it should be in accordance with what had been agreed with the International Monetary Fund (IMF). The government should also send the pension and disability insurance bill back to the parliament with the agreed changes, says the announcement. According to the central bank, this is needed to get a positive review of Serbia's economic performance under the standby arrangement with the IMF. The meeting with the IMF is scheduled for December 22. (Beta)

2011 draft state budget deadline expiring

Some earlier statements made by Finance Minister Diana Dragutinović suggest that "there will be money for (increased) salaries and pensions", says our reporter, while "some municipalities can hope for more funds".

Chairman of the Parliamentary Committee on Finance Vlajko Senić could not confirm that the draft would reach MPs withing the legal deadline.

Senić told B92 that he thought the stumbling block might be the projected deficit of four percent GDP, and higher-than-planned inflation, "which will prompt necessary harmonization related to the Law on Fiscal Responsibility".

According to the agreement Serbia has with the IMF, salaries and pensions paid from the state budget will be increased come January, by the six-month inflation figure. The increase in April will amount to the three-month inflation and half the GDP growth.

Meanwhile, the National Bank of Serbia stated on Tuesday that the government should send its proposal for the 2011 budget to parliament by December 15, and that it should be in accordance with what had been agreed with the International Monetary Fund (IMF).

The government should also send the pension and disability insurance bill back to the parliament with the agreed changes, says the announcement.

According to the central bank, this is needed to get a positive review of Serbia's economic performance under the standby arrangement with the IMF. The meeting with the IMF is scheduled for December 22.