Belgrade Post

Чуј одсад наше гласе
Friday, Feb 14, 2025

Serbian Finance Minister Urges Local Governments Towards Greater Fiscal Responsibility

Serbian Finance Minister Urges Local Governments Towards Greater Fiscal Responsibility

Minister Siniša Mali emphasizes local budgeting responsibility and strategic EU fund utilization.
At a significant assembly in the Serbian Ministry of Finance, Finance Minister and Deputy Prime Minister Siniša Mali addressed approximately 70 local municipality leaders, urging increased fiscal responsibility and strategic planning in the use of municipal budgets.

The meeting, titled 'The Importance of EU Financial Assistance and Proper Spending,' underscored the pivotal role fiscal management plays at both local and national levels.

Minister Mali highlighted the need for a shift in mindset among local administrations, advocating for reliance on local resources rather than the central government budget.

He emphasized that local budgets are the responsibility of municipalities and stressed the necessity of accurately planning revenue and expenditures.

Furthermore, he pointed out the ongoing support from the central government on projects such as sewage system development and water purification plant construction, while also urging municipalities to reduce dependency on such support.

The Minister announced that by the end of January, the Ministry of Finance will conduct analyses of each municipality's budget to ensure alignment with the Ministry’s guidelines.

Highlighting the importance of budget stability for overall economic stability, Mali stressed the need to explore alternative financing methods, such as municipal bonds.

He encouraged local governments to adapt to evolving financial landscapes and seek EU grants, aligning with Serbia's broader European integration goals.

Concerning EU fund management, Mali reiterated the need for lawful and transparent handling of these funds, emphasizing zero tolerance for corruption.

Serbia, seeking full EU membership by 2026, aims to fully harmonize its laws with EU regulations.

Since 2001, Serbia has received over four billion euros in EU grants mainly for local projects.

Minister Mali also reflected on Serbia’s strong economic growth, positioning it as the second fastest-growing economy in Europe.

The country's reduced public debt ratio of around 44-45% of GDP, compared to the eurozone’s average of 89%, and its investment-grade credit rating underscore its fiscal achievements despite global challenges.

During the meeting, local representatives were invited to discuss common irregularities in decentralized EU fund management and share suggestions for enhancing financial collaboration with the EU.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Record High of Journalists Murdered in 2024, As per CPJ Report
US Educator Detained in Russia Freed, Sparking Hopes for Revived US-Russia Communication
World Leaders Call for Ethical and Inclusive AI Governance at Paris Summit
'BACK TO PLASTIC!': Trump to End Bans on Plastic Straws
Trump Signs Executive Order Prohibiting Transgender Athletes from Competing in Women's Sports
EU Reveals Significant Advancements on Special Tribunal for Prosecuting Vladimir Putin
Serbia and Albania Will Jointly Host the 2027 UEFA Under-21 European Championship
China's Humanoid Robots Poised to Transform Everyday Life and Spiritual Functions
President Trump Launches Establishment of U.S. Sovereign Wealth Fund with Possible TikTok Purchase
Nearly 96% of New Cars Registered in Norway in January Were Electric
Apple Abandons AR Glasses Project Amid Struggles with Technology and Market Demand
U.S. Clinical Trial Investigates Medication to Prolong Dogs' Lifespan
Berlin Protests Against Immigration Crackdown
Apple Surpasses Revenue and Earnings Expectations, But iPhone Sales Disappoint
The 'Chinese Pearl Harbor' on U.S. Tech: DeepSeek's Launch Triggers Market Collapse
The Trump Era 2: A Time of Dramatic and Profound Change
Trump to Announce $500 Billion AI Infrastructure Investment
Hungarian PM Viktor Orbán: Now it's our chance to stand out! It's our time to take over Brussels!
Five Billionaires on Track to Break One Trillion Dollar Wealth Barrier
S.E.C. Sues Elon Musk Over Alleged Twitter-Related Securities Violations
U.S. Deputy Secretary Verma Holds Key Talks with Serbian Leadership on Stability and Economic Cooperation
×