Calculus by the Fiscal Council: How much will Serbia pay for environmental protections?

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Photo: Pixabay

Serbia is among the most polluted countries in Europe and in next 10 to 15 years it is necessary to invest around EUR8.5 billion from the budget in environmental protection and utility infrastructure, said Chairman of the Fiscal Council Pavle Petrovic has said.

He has said at the press conference that it is the right moment to start investing in environmental protection and utility infrastructure from state treasury since budget is balanced, due to reduction of a deficit of EUR2.2 billion from 2014.

“There will be cash surplus in state treasury as costs for interests and guarantees-based costs have been reduced, and economic recovery secures higher revenues, thus it is possible to set aside around one percent of gross domestic product (GDP) for environmental protection, i.e. from 350 to 400 million euros,” Petrovic has said.

Assessment of the Fiscal Council is that around 500 million euros should be allocated annually to solve priority problems in environmental protection and communal infrastructure, and difference of around 100 million should be secured by local self-governments, public and state-owned enterprises.

Source: Beta

Photo: Pixabay