Debt of the Roads of Serbia totaling RSD 1,3 billion converted into public debt

The Serbian parliament adopted a law which converted debt totaling RSD 1.35 billion of the Roads of Serbia into public debt.

As it has been established, this law governs the manner, procedure and dynamics of claims settlements of the Roads of Serbia to road and other companies with which public company has contracts on maintenance of state roads on the basis of debt.

The funds will be set aside in the state budget, and the state will pay off the debt in three installments by the end of 2013, according to the law.

The Ministry of Transport will determine the amount of individual claims of each road and other company by a special act, and Ministry of Finance and Economy and the Public debt administration will carry out the settlement of obligations.

This law shall be effective as of the day after its publication in the "Official Gazette".