This is when KEY information regarding NIS is expected: Serbian president makes important announcement

President Aleksandar Vucic said today that our country is facing a big problem regarding preventing a surge in the price of oil derivatives, since the state has already given up 25 percent in the excise tax revenue, and pointed out that there is a little less than a month left to reach an agreement on the sale and purchase of the Russian share in NIS (Petroleum Industry of Serbia).

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"You can imagine our problems, there are still sanctions against us (NIS), they just don't apply for another month or a little less than a month, by which time an agreement on the sale of NIS should finally be concluded," said Vucic, answering journalists' questions about whether he discussed the situation in the Middle East with the president of the Swiss Confederation, Guy Parmelin, and how the situation with the rise in oil prices could affect Swiss investments in Serbia and in the Balkans.

Vucic noted that the price of oil has already reached over $111 per barrel.

"Whatever message comes from the White House or Tehran, from the entire region, it only increases the price of oil. It would be best if nobody said anything, at least the price of oil would not go up. Whereas this way, every time they try to calm the price, it goes up. And now I tell you, I don't know what to do anymore, we (the state budget) have already given up 25 percent of the excise tax. There's already six countries out of eight in the region where the price of fuel has increased. I don't know what else to do, to give up all the state revenue (from oil), we're in big trouble," Vucic said.

He added that our country is trying to conclude free trade agreements or some special barter arrangements regarding fertilizers, with Ukraine and others.

"We're trying to bring in fertilizers for our farmers, but there are many, many problems, but I will talk about that another time. Switzerland certainly feels (the problems) less, they are a much stronger, much more financially stable country than we are. We have no problems with public debt, but we have created buffers and take money on the financial market under favorable conditions, have no problem with that, therefore, our public debt will never exceed 60, but 50 percent in relation to GDP. But I'm afraid we'll have problems going forward," added Vucic.

The president stated that all prices go up as soon as there is talk of wars.

"Just as long as that it doesn't affect our people, so that our inflation doesn't start to jump again. In March it was good, everything was fine, everything under control, 2.8 percent, we must try to keep it below 3 percent," Vucic pointed out.

(Telegraf.rs/Tanjug)