Ministry of Finance Prepared a Report on Budget Execution in the Past Five Months

Serbian Minister of Finance Mirko Cvetkovic said today that the Government has managed the budget rationally this year, because the deficit in the first five months reached only one billion dinars, as opposed to planned RSD14.8 billion.

Cvetkovic told Tanjug news agency that the Ministry of Finance prepared for the next meeting of the government a report on budget execution in the first five months of the year, which will absolutely prove that the budget was managed rationally.

Serbian
Minister of Finance Mirko Cvetkovic said today that the Government has managed
the budget rationally this year, because the deficit in the first five months
reached only one billion dinars, as opposed to planned RSD14.8 billion.

Cvetkovic told Tanjug news agency that the Ministry of Finance prepared for the
next meeting of the government a report on budget execution in the first five
months of the year, which will absolutely prove that the budget was managed
rationally.

He reiterated there was no unplanned spending of resources and that the budget
was implemented according to the plan adopted by the Serbian Parliament. The
minister added that budget revenues from taxes and other fiscal instruments
were two percent above the plan.

In 2007, privatization receipts totaled nearly one billion euros. EUR500
million was transferred into 2008, EUR200 million of which was spent on
repayment of debts and loans, therefore there are EUR300 million left on the
state foreign exchange account, Cvetkovic said.

According to him, this money will be used to pay other liabilities until the
end of the year, hence a deficit may arise in September, unless there are some
significant privatization revenues.