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6.05.2008.

Minister of Finance Mirko Cvetkovic and Slovak Ambassador to Serbia Igor Furdik signed today a Financial Memorandum, which entails that Slovakia will allocate EUR1.9mn for projects on civil society and technical infrastructure development in Serbia and Serbia’s approximation to European integrations. The Memorandum is a financial management framework for support to implementation of Development Cooperation Agreement, entered into between governments of the Republic of Serbia and the Slovak Republic.

10.04.2008.

Serbian Minister of Finance Mirko Cvetkovic traveled to Washington today where he will attend, as a member of the Serbian government delegation, the spring meetings of the International Monetary Fund (IMF) and the World Bank on April 12 and 13.

Cvetkovic will have a series of bilateral meetings with representatives of the IMF, the World Bank and central and commercial banks of the member states, which will deal with current macro economic flows in Serbia and implementation of the economic policy

18.02.2008.

Adjusted dinar amounts of excise on petroleum derivatives, which the Serbian Government defined on February 14, will be applied as of Wednesday, February 20, 2008, when the Rulebook on Adjustment of Highest Producer Prices of Basic Petroleum Derivatives will also come into force.

10.01.2008.

Serbian Government adopted at its session today a state-subsidized Long-Term Housing Loan Program for January-December 2008.
Adoption of the Program has created conditions for continued payment of funds allocated by 2008 Budget Law for subsidized housing loans executed via National Housing Loans Insurance Corporation. RSD3.5 billion has been allocated in the budget for this purpose.
We would like to recall that the Government’s project for subsidizing housing loans has contributed greatly to improving conditions for financing of private housing loans in Serbia.

8.01.2008.

As a result of restrictive spending in the previous year, instead of the planned RSD13.7 billion deficit in the Republic of Serbia budget in 2007, a surplus of RSD12.8 billion was created. Total budget savings amounted to RSD26.5 billion.

Expenditure was 4.7% lower than planned and amounted to RSD567.6 billion. Revenues were also lower by 0.2% percent and totaled RSD580.4 billion.

Public debt at the end of 2007 reached EUR9 billion or 29% of Gross Domestic Product (GDP in 2007 was estimated at EUR31.4 billion).

7.12.2007.

With the objective of regulating market relations and preventing further price rise of edible sunflower oil, in view of insufficient domestic supply and high prices of powdered milk and butter, the Government of Serbia adopted on 6 December a Decision on Criteria Defining Consignment for Import of Edible Sunflower Oil, Powdered Milk and Butter. The Decision was adopted at the initiative of the Ministry of Trade, Ministry of Agriculture and the Finance Ministry, and was a result of trends in edible sunflower oil prices on the Serbian market and respective prices in the countries in the region and in the EU.

4.12.2007.

A RSD 37.5 billion surplus was created in the Republic of Serbia budget in the first 11 months of the year. Revenues totalled 525.8 billion dinars, while expense amounted to RSD 488.3 billion. The surplus was a result of improved collection of revenues and some cuts on the expenditure side. The Ministry of Finance will keep on managing a responsible fiscal policy in the future.

We would like to underscore that the 2007 budget forecast a RSD 13.7 billion deficit.

You can view the structure of revenues and expenses on our website www.mfin.sr.gov.yu.

18.10.2007.

The Serbian Ministry of Finance informed that the Government adopted the Memorandum on Budget, Economic and Fiscal Policy for 2008, with projections for 2009 and 2010, at its session held on October 18, 2007. The Memorandum contains the framework for implementation of economic and fiscal policies and structural reforms in the upcoming three year period, which is also the first step towards adoption of the 2008 budget.

The basic objectives of the economic policy will be maintenance of macroeconomic stability and continuation of economic and employment growth. Translated in numbers, these objectives mean a GDP growth at an annual average rate of 6.3 percent, reduction of inflation to 4 percent in 2010, as well as reduction of the currently high deficit from 14.7 percent of GDP this year to 11 percent of GDP in 2010.

16.10.2007.

Serbian Minister of Finance Mirko Cvetkovic will attend a meeting of the Swiss Constituency Group of the International Monetary Fund (IMF) and World Bank, of which Serbia is a member, prior to the annual session of the World Bank and IMF in Washington. According to a statement of the Finance Ministry, the meeting of the Swiss constituencies will be held in Berne from October 17 to 18, in the organisation of the Swiss central bank.

As member of the Serbian Government’s delegation the Minister Cvetkovic will attend the annual session of the IMF and World Bank in Washington from October 19 to 22, and talk with representatives of the two institutions about the economic policy to be implemented in Serbia in the upcoming period, the statement informs.