Friday, October 28, 2011

Government adopts regulation on liquidity

BELGRADE - The Serbian government adopted Thursday the regulation in order to enhance payments flow between state bodies, public companies and private sector, Minister of Economy Nebojsa Ciric stated.

He explained at a press conference that the regulation refers to all ministries, state agencies, directorates and local self-governments. Ciric said that the enforcement of the regulation should boost the liquidity of the economy and facilitate functioning of domestic market.

The minister specified that the act will limit the financial obligation maturity to 60 days, and added that unsettled debts between state bodies, public companies and private sector amount to RSD 10 billion, including about RSD 4 billion of liabilities to the private sector.

According to Ciric, the regulation also obliges all parties to settle their debts to each other, including the old liabilities. He said that the situation, in view of the settlement of debts, is complex, since the private sector also owes to public enterprises.

Ciric said that 11 public enterprises claim more money than they owe, giving the exact figure of RSD 78.5 billion those enterprises demand from the private sector. At the same time, public enterprises owe RSD 15.4 to claimants.

Only the Serbian Railways public enterprise owes more than it demands, given that their debt amounts to RSD 1.8 billion and that they claim RSD 1.4 billion, he noted. Ciric added that the adoption of the regulation represents only the first step and that a working group will be formed after the regulation on liquidity is passed.

No comments:

Post a Comment