Serbia registered an unusually high general state surplus of RSD 16.6 billion in January, and the Fiscal Council says that the achieved result is in line with the planned fiscal framework for this year.
The January surplus is mostly a result of a one-off increase in non-tax revenues due to payment of Telekom dividends totalling RSD 7.6 billion, the Council said in an analysis.
In fact, the 2015 budget envisions significantly higher non-tax revenues.
In addition, successful fiscal consolidation measures (the reduction of pensions and public sector salaries since the end of last year) resulted in cost cuts that totalled around RSD 6 billion, as planned in the budget.
Positive fiscal results in January have become customary in recent years as a result of seasonally low public expenditure performance reports the Government.
Source; Balkans
