Serbian Government Amends 2021 Budget

The Serbian government adopted amendments to the 2021 budget increasing budget revenues, a press release said on Thursday (21.10). It said that total budget revenues will total 1,488.5 billion Dinars including 1,279.3 billion or 85.9 percent of the total in tax revenues (an increase of 111 billion Dinars), and non-tax revenue totaling 191.5 billion (an increase of 21.1 billion) or 12.9 percent with donations accounting for 1.2 percent of the budget.

“In the revenue projection, almost all revenue categories recorded an increase compared to the previous projection, while the largest positive changes were recorded in corporate income tax and VAT. Other categories were revised upwards due to a stronger-than-expected recovery in activity”, the press release said.

It added that expenses are planned to total 1,792.95 billion Dinars with a fiscal deficit of 304.5 billion (lower than the budget amendment in April) to stand at 4.9 percent of the GDP instead of the planned 6.9 percent of GDP. “The general government’s public debt at the end of the year will be up to 58.2 percent, instead of 60 percent of GDP, as previously estimated”, it said. The government earmarked 388.9 billion Dinars, or 6.3 percent of the GDP, for capital investments.

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