Debts of state towards economy published

The Treasury of the AP Vojvodina informed the Ministry of Finance there were no debts of provincial institutions. The Treasury of the AP Vojvodina monitors provincial budget beneficiaries and is obliged to provide that information to the Ministry of Finance and Economy.

Register of the Treasury recorded that budget users within the legal deadline settled obligations totaling 13.4 billion, while payment of 89.6 million is late and thus these users violated the law.

A total of 121 local self-governances and their indirect as well as some indirect republic beneficiaries have not paid their obligations and as of today budget funds transfers will be suspended for them. Transfers of budget funds will be suspended until they settle all their debts.

We would like to point out that according to the Law on Public Enterprises, these companies are obliged to submit data to the Treasury on a monthly basis. Thus, the first data on their debts should be known after June 5.

The Ministry reminds, in line with the provisions of the new law, debts generated after March 31, 2013 are monitored. According to the Law on terms of settlement of financial obligations in commercial transactions, state institutions, local government, health centers, schools and all other beneficiaries of budget funds are required to settle their debts within 45 days.

According to the Treasury Department, a total of 3,235 direct and indirect budget beneficiaries at the national level and 5,920 of direct and indirect budget beneficiaries at the local level have been recorded. The Ministry of Finance and Economy will regularly update and publish data on debts and will strictly obey the provisions of the Law and sanction without exception everybody who do not implement it. Thus, zero tolerance of financial indiscipline will become effective.

Data and tables have been published at the site of the Ministry at http://mfp.gov.rs/pages/issue.php?id=9391