Serbian government adopts budget review

The Serbian government has unanimously adopted 2013 budget review bill which envisages savings of around RSD 36 billion (around EUR 314 million).

Source: Tanjug

It at the same time limits the budget deficit to 4.7 percent of GDP, that is to RSD 178.3 billion (around EUR 1.55 billion).

The budget review bill was adopted Tuesday as part of comprehensive economic reforms that will be carried out simultaneously and imply stabilization of the state budget, the public sector reform and improving the business climate, a statement from the government session reads.

The government also adopted amendments to the budget system law, which will create the basis for more savings and better control of spending through introduction of central register of public sector employees.

Also on Tuesday, the government adopted the action plan for the completion of the restructuring of former public companies. It envisages that a solution for 179 companies that have been in the process of restructuring for more than 10 years should be found. As estimated by the World Bank, the companies create costs worth EUR 750 million to the state.

The session also resulted in the adoption of draft law on taking over the liabilities of public company Putevi Srbije to road construction companies and turning them into the public debt.

The adopted bills will be referred immediately to the Serbian parliament.

Business & Economy

page 1 of 21 go to page