Serbian government earmarks funds for recycling industry

NEWS 26.12.2019 11:44
Share:
Source: N1

The Serbian government decided to transfer some 1.5 million Euro from pension support to finance subsidies for the recycling industry, the Nova Ekonomija magazine said in its latest issue.

“A total of 171,615,000 Dinars will be transferred to the current budget reserve …. And will be given to the Environmental Protection Ministry to secure funds needed to finance the recycling industry,” the government’s December 24 decision said.  

It added that the money was initially earmarked “to support the payment of pensions” but is now being transferred to the Serbian Green Fund to subsidize private companies. Earlier in the month, the government re-directed 950 million Dinars (1 Euro – 118 Dinars) from the Republic Health Insurance Fund and Public Debt Authority to subsidize private recycling companies.  

According to the Serbian Association of Recyclers, the government and state institutions owe those companies 2.8 billion Dinars. It said that the government collected 11.5 billion Dinars from an ecology tax in 2018 but set aside only 2.19 billion for the treatment of hazardous waste.