Petrovic: 2017 draft budget not transparent enough

President of the Fiscal Council, Pavle Petrovic warned about lack of transparency in the draft 2017 state budget, particularly in the part that refers to the subsidies for foreign investors and guarantees.

At the session of the parliamentary Finance Committee, Petrovic said that the draft budget did contain the list of investors that were going to receive subsidies and the total amount, but there was no breakdown of subsidies stating how much would each individual investor get.

„We wanted this information to be included in the draft budget“, Petrovic said and added that lack of transparency was noticeable in the segment of the budget pertaining to state guarantees for debt payment.

According to him, there are no guarantee amounts for every single credit line, but, again, only the total amount is given.

The 2017 draft budget also envisages reducing public debt and Petrovic says that this is crucial for having healthy public finances. Still, he underlines, the share of public debt in the 2017 budget, is still high which is dangerous in case external shocks cause another crisis, or the deficit and public debt grow.

He also commended the fact that the next year’s budget stipulates all investments in infrastructure.

(eKapija, 05.12.2016)

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