Sertic: Greatest savings in expenditures, subsidies

BELGRADE - Serbian Minister of Economy Zeljko Sertic stated on Monday that the Ministry's 2015 budget would be lower by RSD 20 billion, and added that the greatest savings will be ensured through expenditure reduction and lower subsidies, while lowest savings will be made in the investment sector.

The greatest part of the savings has been ensured in discretionary expenditures such as travel expenses, Sertic said.

He noted that the Ministry will have RSD 500 million worth of funds at its disposal for support to restructuring companies and the privatisation process.

A total of 6.5 billion will be allocated as support to investments in SIEPA projects. A part of the sum will be aimed at new tasks, while another part will be allocated to outstanding obligations toward investors, Sertic said and added that the local and foreign investments will have a completely equal status.

A total of RSD 3.8 billion worth of funds will be allocated as assistance to various companies because this is an obligation the government took on a while ago, Sertic said.

RSD 2.9 billion worth of funds have been allocated for the development of business infrastructure and business zones within the National Investment Programme and the European Investment Bank programme, he noted.

Noting that public enterprises need to act in keeping with the instructions of the government and make serious savings in needless expenditures, Sertic said that lowest savings will be made in investments as generators of development.

The government aims to attract investments, organise the business environment and back small and mid-sized companies, he explained.

Sertic said that by the end of 2014, the Ministry of Economy should...