Parliament finishes debate on 2011 budget

Serbian MPs finished debating the draft budget for 2011 last night, which envisages budget deficit of RSD 120.5bn. Finance Minister Diana Dragutinovic says that what bothered her the most was one-sided approach to the debate. Parliament finishes debate on 2011 budget She has rejected criticism that the state is becoming more indebted, that capital expenditures are too low and that there are not enough agricultural subsidies. The finance minister explained that the budget was in accordance with the fiscal regulations to limit the budget deficit to 4.1 percent of GDP, reduce public spending, unfreeze wages and pensions and provide money for all for all social benefits envisaged by the law. Prime Minister Mirko Cvetkovic said that the Serbian budget for 2011 included incentives and supported the industrial development and realization of infrastructure projects, that it was saving-oriented and therefore had a stabilizing function securing normal operation of the state and underlined that the budget was also socially-responsible since it offered protection to vulnerable citizens. “The next year’s budget is saving- and development-oriented and it is a realistic reflection of Serbia’s economic power and it will be a basis for the boost of a long-term economic development, continuation of reforms and investments into infrastructure,” he stressed. Parliament Speaker Slavica Djukic-Dejanovic has stated that the budget for 2011 will be adopted by December 29. “That is the last day of our regular sitting and the budget will be adopted by December 29,” she pointed out. According to her, the Serbian parliament will allocate RSD 80mn from its 1.7bn budget for TV broadcasting and it will call a public tender. Ruling coalition MPs have announced that they will support the draft budget, adding that it is appropriate considering the country’s economic situation. Opposition has, however, assessed that the draft budget is not development-oriented and that it only contains unrealistic promises. The MPs also discussed amendments to the Law on Pension and Disability Insurance and amendments to the Law on Property Tax, Value Added Tax (VAT) and Tax on the Use, Possession and Transportation of Goods. They also discussed changes to the Law on Excises and Law on Budget System. The Serbian parliament will discuss amendments to a set of judicial laws on Monday and about 250 amendments to the draft budget for 2011 and accompanying laws on Tuesday. The Serbian parliament (Beta)

Parliament finishes debate on 2011 budget

She has rejected criticism that the state is becoming more indebted, that capital expenditures are too low and that there are not enough agricultural subsidies.

The finance minister explained that the budget was in accordance with the fiscal regulations to limit the budget deficit to 4.1 percent of GDP, reduce public spending, unfreeze wages and pensions and provide money for all for all social benefits envisaged by the law.

Prime Minister Mirko Cvetković said that the Serbian budget for 2011 included incentives and supported the industrial development and realization of infrastructure projects, that it was saving-oriented and therefore had a stabilizing function securing normal operation of the state and underlined that the budget was also socially-responsible since it offered protection to vulnerable citizens.

“The next year’s budget is saving- and development-oriented and it is a realistic reflection of Serbia’s economic power and it will be a basis for the boost of a long-term economic development, continuation of reforms and investments into infrastructure,” he stressed.

Parliament Speaker Slavica Đukić-Dejanović has stated that the budget for 2011 will be adopted by December 29.

“That is the last day of our regular sitting and the budget will be adopted by December 29,” she pointed out.

According to her, the Serbian parliament will allocate RSD 80mn from its 1.7bn budget for TV broadcasting and it will call a public tender.

Ruling coalition MPs have announced that they will support the draft budget, adding that it is appropriate considering the country’s economic situation. Opposition has, however, assessed that the draft budget is not development-oriented and that it only contains unrealistic promises.

The MPs also discussed amendments to the Law on Pension and Disability Insurance and amendments to the Law on Property Tax, Value Added Tax (VAT) and Tax on the Use, Possession and Transportation of Goods.

They also discussed changes to the Law on Excises and Law on Budget System.

The Serbian parliament will discuss amendments to a set of judicial laws on Monday and about 250 amendments to the draft budget for 2011 and accompanying laws on Tuesday.