At the sitting held on 22 December, the members of the Finance Committee considered in principle the Bill amending and modifying the Republic of Serbia 2009 Budget Law and the Bill amending and modifying the Accounting and Auditing Law, submitted by the Government of the Republic of Serbia.

The representatives of the Ministry of Finance and the Business Registers Agency presented the proposed legislative solutions to the Committee members. The Bill amending and modifying the Republic of Serbia 2009 Budget Law is this year’s second rebalance which raises the budgetary deficit from 70 billion to 104 billion RSD. The growth was caused by decreased budgetary income, while the expenditure remained unchanged. The rebalance was adjusted to the arrangement achieved with the International Monetary Fund.

The Bill amending and modifying the Accounting and Auditing Law envisages that starting from January 1, 2010 economic shall submit reports in two places, to the National Bank and the Business Registers Agency, it specifies the provisions of the existing law and brings about a 52 million RSD worth of savings from the fees economic subjects pay to these two institutions.

Following a short discussion the Committee members accepted the Bill amending and modifying the Republic of Serbia 2009 Budget Law, with the reserved opinion of deputy Slobodan Maras, as well as the Bill amending and modifying the Accounting and Auditing Law, in principle, by a majority of votes.

The sitting was chaired by the Committee Deputy Chairperson Branka Ljiljak.