The ministers who, in previous governments were in charge of the country’s economy, today run several private businesses simultaneously. Those engaged in consulting services earn up to 6,000 euros a month.
Apart from the fact that they have taken care of the state finances over the past two decades, these former Serbian politicians have one more thing in common – most of them make money in the same way. Almost every former economy minister is today a consultant for private and state companies, and charges a good amount of money for their services.
Former president of the G17 plus party and a minister in several Serbian governments, Mladjan Dinkic founded a company that is engaged in wholesale of computers, computer equipment and software three months ago. Four years ago, after he withdrew from politics, he established a consultancy firm. The company currently employs 8 workers. Last year, the company generated a net profit of 35.1 million dinars. Immediately after leaving politics, Dinkic was also hired by a top bank in Serbia, where he is now a member of the Board of Directors.
Miroljub Labus, the former deputy prime minister and president of the G17 plus party, is the owner of a consulting firm together with daughter Milica. He launched a private business started after the split with Mladjan Dinkic and after retiring from the political scene in 2007. In the past two years, the company generated a profit of about 8 million dinars. The company’s clients, as stated on the company’s official website, are large Serbian and foreign companies.
Predrag Bubalo, Minister of Economy in the Government helmed by Vojislav Kostunica, is the owner of a consulting agency registered in 2009 in Kikinda. According to the information from the Business Register Agency, Bubalo has not submitted financial reports on behalf of the company in recent years. He is the director of a company founded in 2007, also in Kikinda, owned by his son Igor. According to official data, this firm, which deals in non-specialized wholesale trade, posted loss last year, while in 2016 it made a profit of only 220 euros.
Seven years ago, Bubalo was a co-owner, with a 33 percent share, of another trading company. The company was subsequently liquidated, one year after its establishment. Five years ago the company was deleted from the business register. In 2017, due to the lack of evidence, the circuit court exonerated Bubalo from any liability in the case of privatization of Port of Belgrade.
Aleksandar Vlahovic, Minister of Economy and Privatization in the Government of Zoran Djindjic, is the owner or co-owner of four companies. Vlahovic, who has not withdrawn from the economic and politics all together, is the only owner and director in a company that deals with the elaboration of construction projects. He founded the company in 2011 and according to the data from the Business Register Agency, the company has no employees. Vlahovic is the only one employee, whereas the company generated a net profit of 8.1 million dinars last year. This means that he earned 750,000 dinars a month. This former minister owns 50% of the capital in the company that sells banking equipment too. The company was founded in July 2016, and since its beginning, it has been recording positive financial results. In five months of business, the company posted the profit of 340,000 dinars, while the profit in 2017 amounted to 396,000 dinars.
The third company, in which Vlahovic also owns a 75% stake, was established in 2016.
According to the APR code book, this company is engaged in entertaining and recreational activities, and in 2016, it generated a profit of 306,000 dinars. He is also a co-owner of a consulting firm, established in 2011. In 2016, this company posted a net of 754,000 dinars.
Deputy Prime Minister and a Minister in the Federal Government, Darko Djunic is a majority owner with a 66% stake in a financial services firm. This company, which reported no employees, generated a profit of 73 million dinars last year, while a year earlier the profit was half as much.
Djunic is also the owner of a company that deals with the construction of residential and non-residential buildings, founded it in 2007. The company employs one worker and had a profit of 2 million dinars last year. The company earned three times more than a year earlier.
Pitic as a banker, Parivodic as a lawyer
Goran Pitic, the former Minister of Foreign Economic Relations, also owns a consulting firm and is today the chairman of the Board of Directors of a bank. Pitic’s firm, founded in 2005, proved to be unsuccessful since it has not generated any profit for the past 2 years.
Milan Parivodic, a Minister in the Government of Vojislav Kostunica, did not establish a company but continued with his legal practice.
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