The sitting was chaired by Committee Chairman Milorad Buha, and attended by representatives of the Ministry of Economy and Regional Development, a representative of the Ministry of Finance and representatives of the Independent Union of Metal Workers of Serbia.

At the sitting, the Committee reviewed the Bill amending and modifying the Republic of Serbia 2011 Budget Law and the Activity Information of the Ministry of Economy and Regional Development, field of economy, for the January – June 2011 period.

The representative of the Ministry of Finance said that the Government proposed the budget rebalance due to the changes in gross domestic product, adding that the consolidated deficit has risen from 4.1 to 4.5%. The Ministry of Finance proposed a 3.75 million rebalance on function 410, acc. 451 for the economy loan support programme subsidies for public non-finance companies and organisations for via the Development Fund.

The representative of the Ministry of Economy and Regional Development stated that the January-May period experienced a 5.1% industrial production growth rate, adding that the Ministry of Economy and Regional Development had adopted an Industry Development Strategy and Policy of the Republic of Serbia from 2010 to 2020.

The President of the Independent Union of Metal Workers of Serbia informed the Committee on the lack of funds for procurement, production and investment. The union representatives and representatives of other companies agreed that the amount is too little for the industry and company restructuring and inquired into the payment of outstanding wages to the employees and about companies currently undergoing restructuring. The Committee members asked about the criteria employed to choose which companies would receive subsidies, loan support programme and industry revitalisation. Committee Chairman Milorad Buha announced that the Committee members would discuss industrial projects on Friday.