National Assembly of the Republic of Serbia / Activities / Activity details
Monday, 25 October 2021
46th Sitting of the Committee on Finance, State Budget and Control of Public Spending
At the sitting held on 25 October 2021, the Committee on Finance, State Budget and Control of Public Spending considered, in principle, the Bill amending the Republic of Serbia 2021 Budget Law, with its accompanying Proposal of the Decision to grant consent to the Decision amending and modifying the Republic Pension and Disability Insurance Fund 2021 Financial Plan, Proposal of the Decision to grant consent to the Decision amending the Republic Health Insurance Fund 2021 Financial Plan, and the Proposal of the Decision to grant consent to the Decision amending the National Employment Service 2021 Financial Plan, all submitted by the Government.
Mali added that the money saved was channelled into capital investments, economic development and improvement of the citizens’ living standards. He said that all tax types show progress compared to to what was planned.
The Minister of Finance went on to say that the projected deficit in the budget rebalance has been reduced compared to the one projected in April, to 4.9%, and government-debt-to-GDP ratio would be 58.2%. He added that the level of government debt is under control and that capital investments and increase in salaries and pensions would continue.
The Governor of the National Bank of Serbia, Dr Jorgovanka Tabakovic also addressed the members of the Committee, stressing that the budget rebalance is justified and that the NBS has no suggestions or objections to this Bill. The economy and jobs have been preserved during the pandemic and further growth continues, Tabakovic said.
The President of the Fiscal Council Prof. Dr Pavle Petrovic and President of the Council for Coordination of Activities and Measures for Gross Domestic Product Growth Dr Miladin Kovacevic also gave their opinions on the proposed 2021 budget rebalance.
Following a discussion, the Committee accepted the Bill amending the Republic of Serbia 2021 Budget Law, with its accompanying Proposal of the Decision to grant consent to the Decision amending and modifying the Republic Pension and Disability Insurance Fund 2021 Financial Plan, Proposal of the Decision to grant consent to the Decision amending the Republic Health Insurance Fund 2021 Financial Plan, and the Proposal of the Decision to grant consent to the Decision amending the National Employment Service 2021 Financial Plan, in principle.
The Committee went on to consider the Bill on the Confirmation of the Guarantee Agreement (Smart Metering) between the Republic of Serbia and the European Bank for Reconstruction and Development, presented by a representative of the Ministry of Finance, after which the Committee members accepted it.
The sitting was chaired by the Committee Chairperson Dr Aleksandra Tomic, and attended by the following Committee members and deputy members: Veroljub Arsic, Vojislav Vujic, Dr Milorad Mijatovic, Prof. Dr Vladimir Marinkovic, Goran Kovacevic, Olivera Pesic, Dr Boban Birmancevic, Zoran Bojanic, Bratimir Vasiljevic, Zoltan Pek, Ana Carapic and Dusko Tarbuk.