Nenad Mijailovic, State Secretary at the Ministry of Finance, said that the 2017 budget envisaged about 69 billion RSD in fiscal deficit, and that on 1 December the budget surfeit was ascertained to be 75 billion RSD.

“The fiscal result is beyond all expectations mainly because of the better collection of budget revenues” said the State Secretary. He opined that the end-of-year macroeconomic situation is pretty stable which gives hope for 2018. “The most affirmative part of the budget which gives it its developmental character is the significant increase in capital investment”, said Mijailovic.

Speaking of Section 28 Mijailovic stressed that it has been increased per all funding sources by 6.2 billion, the bulk of which comes from source 11 – apex loans.

State Secretary at the Ministry of Mining and Energy Zoran Predic spoke about the three key points for the section dedicated to said Ministry – out of the total funds 5 billion RSD has been allocated for the consolidation of PE Resavica’s transactions, 4.3 billion for the management of oil and oil derivatives reserves and 50 million RSD for social protection.

On the behalf of the Ministry of Trade, Tourism and Telecommunications Sandra Dokic said that the 2018 budget is developmental and tourism and telecommunication would be receiving more funding. Speaking of tourism Renata Pindzo said she was glad the Serbian Government had recognized the importance of the economic branch and helped its development. She stressed that Serbia is becoming a serious tourist destination stating that the foreign currency influx has in the first nine months of 2017 grown by 14% and by the end of the year the expected to hit the wanted 3 million visits i.e. 8 million stays and 1.2 billion EUR in foreign tourism. She emphasized the importance of loan support for small and medium entrepreneurs which has been increased in next year’s budget. She also said that the Ministry would continue with its project of subsidized vacationing in Serbia.

By majority vote the Committee adopted the proposed Republic of Serbia 2018 Budget Bill, Section 21 - Ministry of Economy, Section 28 - Ministry of Mining and Energy and Section 32 - Ministry of Trade, Tourism and Telecommunications, submitted by the Government.

The sitting was chaired by Committee Chairperson Snezana B. Petrovic and attended by the following Committee members and deputy members: Dr Aleksandra Tomic, Studenka Kovacevic, Tomislav Ljubenovic, Branislav Mihajlovic, Zoran Bojanic, Dragomir Karic, Prof. Dr Vladimir Marinkovic, Natasa Jovanovic, Gorica Gajic, Jelena Mijatovic, Veroljub Stevanovic and Ivan Manojlovic.