The budget deficit in April was just RSD 0.9 billion, having dropped by around RSD 18 billion compared to the same month of last year, said the Fiscal Council.
Similarly to previous months, the considerably improved result followed in the wake of budget cuts achieved through the reduction of pensions and public sector salaries, as well as record non-tax revenues from the repayment of RSD 7 billion of overdue debts accumulated by the Serbian electric power company EPS, the Council said in a report.
On the other hand, accelerated project implementation in the field of road infrastructure has been encouraging, and a growth of year-on-year capital expenditure, albeit insufficient, was registered in April for the first time, the Council said.
“We retain the general assessment of the 2015 fiscal trends after April: the budget results are satisfactory, but not drastically better, even though a four times larger deficit was registered in the first four months of last year,” said the Fiscal Council’s April report.
Source; B92
