The World Bank and IMF warned the Government that redefining excise policy and changing excise rates may challenge the planned income collection which would, consequently, cause negative effects on budget deficit, reports the Ministry of Finance.
Minister of Finance, Darko Radulović, said that the Government received some kind of “consent, with a dose of reserve” from the IMF and World Bank.
“The macroeconomic frame is sustainable. However, it has been indicated that by redefining excise policy and changing excise rates, planned income collection on that basis might be called into question, which could ultimately affect the budget deficit”, reports the Ministry.
Starting from the 1st of September, excise on tobacco products will be 30 EUR for thousand packs. The Government did that in order to stimulate budget filling and suppress grey economy which escalated with the increase in excises.
After the market analysis had been carried out, it was necessary to make a decision about changing the excise policy on tobacco and mineral water with added sugar in order to give support to businessmen who face unfair competition and therefore provide continuous income collection.
