The Commission for Protection of Competition fined the companies in breach of competition rules in total amount of RSD 3.2 billion (EUR 29 million) in 2011, says Vesna Janković, President of the Commission.

Janković pointed out that in the last year the Commission used its authority to impose sanctions by charging a maximum of 10 percent of the annual revenue from the company in breach of competition rules for the first time.

Janković added that from the next month on the Commission will have EU expert support and the latest forensic equipment which will be used in surprise visits to companies.

Serbian Prime Minister Mirko Cvetković highlighted that protection of competition and the anti-monopoly policy were important elements of the economy and that the citizens can feel their effects in a more versatile offer, better prices and improved quality of the goods and services.

"Serbian Government provides full support to independent bodies, and it is important in this context that the new Competition Protection Law has expanded the responsibilities of the Commission," Cvetković said. He pointed out that the Commission has “proven its independence in its work so far”.

Serbian Minister of Agriculture Dušan Petrović said that the Government has made "good decisions" in the area of competition. "If the Government had not adopted the decision to cap the margins to 10%, we would have a rather dramatic situation in the market, especially now that the Euro exchange rate is going up."

Source: Press Release of the Delegation of the European Union to the Republic of Serbia (April 11, 2012), as accessed on April 17, 2012.