Telekom Srbija contributes to the state budget with RSD 8.9 billion – Money from EPS and EMS expected

Serbia made a surplus of RSD 22 billion (EUR 170 million) in the first seven months of 2016, which reduced the share of the public debt in GDP to around 70%. In the first seven months, the income was higher by RSD 22.8 billion, and the expenditures lower by 3.8% than planned.

Prime Minister Aleksandar Vucic expects a budget surplus of over RSD 40 billion in the current month. As he pointed out, state enterprises like Telekom, EPS and EMS would contribute to it with payments to the budget in August.

Telekom Srbija has already confirmed that these estimates are correct by paying RSD 8.9 billion to the state budget these days. EPS is supposed to pay at least RSD 5.5 billion to the budget in August, considering that it recorded a profit of RSD 11 billion at the end of last year. The company paid an additional billion to the budget due to having discharged its obligations to the Paris Creditors Club.

The total profit of EMS amounts to around RSD 2.8 billion, and the Government of Serbia will decide how much of that amount will be paid to the budget.

The legal deadline for public enterprises to pay their profits to the state budget is November 30, but some of them have decided to do it this month. Other public enterprises have already paid their profits to the state budget, and there are also those which couldn’t pay anything, as they had operated with losses. The operations of public enterprises in the first half of 2016 are improved compared to the previous years and there are few of those which have incurred losses.

The financial situation of public enterprises in Serbia has changed considerably, as they have started making positive results after incurring losses for years. It has been reported that the total net profit of 485 public enterprises amounted to RSD 8.3 billion, but that they also incurred losses in the amount of RSD 44 billion last year.

Telekom Srbija a.d. Beograd

Elektroprivreda Srbije ad Beograd

EMS ad Beograd

Vlada Republike Srbije

Telekom Srbija

Elektroprivreda Srbije

Elektromreza Srbije

EPS

EMS

budget of Serbia

public debt of Serbia

Government of Serbia

Aleksandar Vucic

public enterprises

public enterprises profit