Acts

Constitution of the Republic of Serbia

III ECONOMIC SYSTEM AND PUBLIC FINANCES

1. Economic system

Basic principles

Article 82

Economic system in the Republic of Serbia shall be based on market economy, open and free market, freedom of entrepreneurship, independence of business entities and equality of private and other types of assets.
The Republic of Serbia shall represent a unique economic area with a single commodity, labour, capital and services market.
The impact of the market economy on social and economic status of the employed shall be adjusted through social dialogue between trade unions and employers.

Freedom of entrepreneurship

Article 83

Entrepreneurship shall be permitted.
Entrepreneurship may be restricted by the Law, for the purpose of protection of people's health, environment and natural goods and security of the Republic of Serbia.

Status on the market

Article 84

Everyone shall have equal legal status on the market.
Acts, which are contrary to the Law and restrict free competition by creating or abusing monopolistic or dominant status, shall be strictly prohibited.
Rights gained through capital investments, in accordance with the Law, may not be curtailed by the Law.
Foreign persons shall be equalled on the market with domestic persons.

Proprietary rights of foreigners

Article 85

Foreign natural and legal entities may obtain real estate property, in accordance with the Law or international contract.
Foreigners may obtain a concession right for natural resources and goods, as well as other rights stipulated by the Law.

Equality of all types of assets

Article 86

Private, cooperative and public assets shall be guaranteed. Public assets shall become state assets, assets of the autonomous province and assets of local self-government units. All types of assets shall have equal legal protection.
The existing social assets shall become private assets under the terms, in a manner and within the deadlines stipulated by the Law.
Resources from the public assets shall be appropriated in a manner and under the terms stipulated by the Law.

State assets

Article 87

Natural resources, goods which are stipulated by the Law as goods of public interest and assets used by the bodies of the Republic of Serbia shall be the state assets. State assets shall include other things and rights, according to the Law.
Natural and legal entities may obtain particular rights on particular goods in public use, under the terms and in a manner stipulated by the Law.
Natural resources shall be utilised under the terms and in a manner stipulated by the Law.
Assets of autonomous provinces and local self-government units, method of its utilisation and management shall be stipulated by the Law.

Land

Article 88

Utilisation and management of agricultural land, forest land and municipal building land on private assets shall be permitted.
The Law may restrict the models of utilisation and management, that is stipulate terms of utilisation and management, in order to eliminate the danger of causing damage to environment or prevent violation of rights and legally based interests of other persons.

Protection of heritage

Article 89

Everyone shall be obliged to protect natural rarities and scientific, cultural and historical heritage, as well as goods of public interest in accordance with the Law.
The Republic of Serbia, autonomous provinces and local self-government units shall be held particularly accountable for the protection of heritage.

Protection of consumers

Article 90

The Republic of Serbia shall protect consumers.
Activities directed against health, security and privacy of consumers, as well as all other dishonest activities on the market, shall be strictly prohibited.

2. Public finances

Taxes and other revenues

Article 91

Resources which are used for the purpose of funding competences of the Republic of Serbia, autonomous provinces and local self-government units shall be provided from taxes and other revenues, stipulated by the Law.
Obligation of paying taxes and other dues shall be general and based on economic power of taxpayers.

Budget

Article 92

The Republic of Serbia, autonomous provinces and local self-government units shall have budgets, which must outline all receipts and expenses with which they are funding their competences.
The Law shall stipulate the deadlines within which the Budget must be adopted, as well as method of temporary funding.
Realisation of all budgets shall be audited by the State Audit Institution.
The National Assembly shall discuss the financial statement proposal of the Budget upon the received evaluation of the State Audit Institution.

Public debt

Article 93

The Republic of Serbia, autonomous provinces and local self-government units may be indebted.
Terms and procedure of getting into debts shall be stipulated by the Law.

Balancing development

Article 94

The Republic of Serbia shall take care of balanced and sustainable regional development, in accordance with the Law.

National Bank of Serbia

Article 95

The National Bank of Serbia shall be a central bank of the Republic of Serbia, independent and subject to supervision by the National Assembly to which it accounts for its work.
The National Bank of Serbia shall be managed by the Governor elected by the National Assembly.
The Law on the National Bank of Serbia shall be enacted.

State Audit Institutio

Article 96

The State Audit Institution shall be the supreme state body for auditing public finances in the Republic of Serbia, independent and subject to supervision by the National Assembly to which it accounts for its work.
The Law on the State Audit Institution shall be enacted.