Serbian Finance Minister Diana Dragutinović said Friday that she expected the total budget revenue in 2011 to exceed earlier forecasts by about RSD 10bn.
“Based on these two months – December of last and January of this year – I can accurately predict the revenue in 2011,” she said, adding that she was almost certain it would be “at least RSD 10bn higher than planned.”
With traffic expected to slow, low-cost air carriers are getting fancy
SINCE taking off in the mid-1990s, Europe’s budget airlines have soared to account for a third of all air travel in the region. But their growth is slowing. Having introduced holidaymakers to once obscure places like Tallinn and Sharm el-Sheikh, the low-cost carriers are left with few new places to explore. National airlines such as British Airways and Lufthansa have tried to defend their business by offering stripped-down service and cheaper fares on more short-haul routes. “The low-cost carrier market used to be about fast growth and uncomplicated strategies,” says Keith McMullan, of Aviation Economics, a consultancy. “Now it is about slow growth and complicated strategies.”
The model for all the new outfits was Southwest Airlines, the original American budget carrier. Low-cost airlines held down maintenance costs by using just one kind of aircraft, bought in large numbers with bulk discounts. They charged for, or did away with, frills like meals and drinks. Aeroplanes flew back and forth along a single route, often between quiet, out-of-the-way airports, rather than using busy hubs. As a result the airlines could turn planes around in less than half an hour. Almost from the beginning, bookings took place online. Such savings were passed on to customers. …
The level of budget spending irregularities in ministries is disturbingly high, said State Audit Institution (DRI) President Radoslav Sretenović.
He says that the 2009 budget audit revealed that five ministries violated the Public Procurement Law in a total amount of RSD 298mn.
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Finance Minister Diana Dragutinović believes there will be pressure to review the 2011 budget, noting, however, that the budget deficit must remain unchanged. “I was surprised by the inflation growth in the conditions of stagnation, but I do not believe that fiscal policy is what caused it,” Dragutinović stated in an interview for the Belgrade-based daily Politika on Monday.
Serbian President Boris Tadić has approved the draft state budget for 2011 and accompanying laws that were adopted by the Serbian parliament on Wednesday.
The president has also approved a set of judicial laws, as well as changes to the Law on Pension and Disability Insurance.
Deputies of the Serbian parliament today in Belgrade adopted the draft state budget for 2011, prepared by the government. 128 MPs voted in favor of the proposal which envisages a budget deficit of RSD 120.5bn (EUR 1.14bn).
The Serbia parliament is attempting to beat the clock and adopt next year’s state budget within the legal deadline.
The deadline expires on December 29 at midnight, and MPs are meeting in an expedited procedure.
Serbian MPs finished debating the draft budget for 2011 last night, which envisages budget deficit of RSD 120.5bn.
Finance Minister Diana Dragutinović says that what bothered her the most was one-sided approach to the debate.
Serbian MPs have begun a general debate on the government draft budget for 2011.
The government is planning on spending RSD 120.5bn more than it will earn. Envisaged revenue is RSD 724.4bn, while expenditures should be RSD 844.9bn.
Parliament Speaker Slavica Äukić-Dejanović has said she is convinced the 2011 budget will be adopted by December 29. She added that this could also happen “by the last sitting of the parliament fall session”.
British Prime Minister David Cameron has confirmed he has won France and Germany’s support to cap the European Union’s budget.
The EU’s next long-term spending plan (for seven years) begins in 2014.
The Serbian government adopted on Thursday the draft 2011 budget and forwarded it to parliament for debate in emergency procedure. The draft envisages a deficit of approximately RSD 120.5bn, RSD 724.4bn worth of planned revenues, while the expenditures would total RSD 844.9bn.
The State Auditing Institution (DRI) has found numerous irregularities in the spending of the 2009 budget and even violations of the law in some cases. An inspection of the final budget balance for 2009 included around 70 percent of budget expenditures and looked into the spending of seven ministries, the Treasury Administration and the National Bank of Serbia, in the section related to budget handling.
Jetstar, the budget unit of Qantas Airways, makes its first Singapore-Melbourne flight today, marking the beginning of its challenge to Singapore Airlines on long-haul routes.
The carrier sold 210 tickets for the 8:50 p.m. flight, including 24 in business class, Simone Pregellio, a spokeswoman, said today. The low-fare airline will operate the daily seven-hour flight using an Airbus SAS A330-200 that can carry as many as 303 passengers.
The Serbian government should discuss the draft state budget for 2011 at a regular session in Belgrade today.
The budget envisages a deficit of 4.1 percent of GDP or about RSD 140bn, in accordance with the agreement with the International Monetary Fund (IMF).
