Temporary budget financing for the period January-March 2004.

Because the National Parliament of the Republic of Serbia failed to adopt the 2004. Budget, the Budget System Law provides for the temporary financing procedure.

This Law provides for the maximal amount of funds that can be allocated in this particular case, which is a quarter of the total revenues realized during the same trimester of the previous fiscal year.

Minister Djelic emphasized that the fiscal system shows it’s solidarity orientation in these tumultuous times. He also said that there is no significant risk, adding that we are presently in the situation to spend even more money than we need.

There is no risk of revenues reduction – revenues that presently are much greater than expected.

Because of failing to adopt the 2004. Budget, the amount of funds provided for the first trimester of 2004. shall be 20% less than initially estimated.

In accordance to the temporary budgetary financing procedure, the Government has adopted the following priority principle: payment of the salaries to the budgetary funds beneficiaries, the public health system, the public education system, the judiciary, the military, followed by the police.