Serbia's Parliament Adopts 2009 Budget

During the parliament's session 128 members voted in favour of the budget and 29 voted against, the government said in a statement late on Monday.

Had the budget not been adopted by midnight on Monday, the government would have resorted to temporary financing until the budget was endorsed, Serbian web portal EMportal quoted Prime Minister Mirko Cvetkovic as saying late on Sunday.

Last month the government proposed to parliament a 2009 budget draft with deficit equivalent to 1.5% of GDP in line with Belgrade’s 15-month $520 million (366 million euro) precautionary stand-by arrangement with the Internationa Monetary Fund (IMF). Serbia can tap the funding under the deal equal to 75% of the country's total quota with the IMF only in case of need.

($=0.7051 euro)