Serbia’s budget deficit reached RSD 114.6 billion in the first five months of 2014, Ministry of Finance stated in a release.
The deficit totals RSD 116.6 billion at the state level, as it includes expenditure for project loans, which, although not a budget item, is an item of state spending.
The budget deficit in May stood at RSD 22.8 billion. The revenues amounted to RSD 59.9 billion while the expenditures reached RSD 82.7 billion (not including revenues and expenditures of indirect budget beneficiaries), the ministry released on Thursday, noting that April revenues were significantly higher as this is the month when VAT duties for the first quarter are collected.
The floods that hit parts of the country in mid May did not have a negative effect on tax revenues so far, Finance Ministry says.
“Possible negative effects of the natural disaster on public revenues will be seen more clearly in the coming months,” the release states.
Source in Serbia
