Serbia’s budget swung to a surplus of 33.9 billion dinars ($352.8 million/285.5 million euro) in 2017 from a deficit of 7.9 billion dinars in the previous year, according to finance ministry data.

Primary budget surplus increased to 152 billion dinars last year from 120.1 billion dinars in 2016, figures posted on the website of the finance ministry show.

Total budget revenues grew by a real 7.4% to 1.119 trillion dinars in the period under review, while expenditure increased 3.3% to 1.085 billion dinars.

Tax revenues rose by a real 9% to 969.1 billion dinars, non-tax revenues went down 1.6% to 143.1 billion dinars, and grants decreased 19.8% to 6.9 billion dinars in 2017.

On the expenditure side, current expenditure fell by a real 2% to 954.2 billion dinars, while capital expenditure soared to 85 billion dinars from 34.1 billion dinars in 2016.

In December alone, Serbia recorded a budget deficit of 42.4 billion dinars, based on revenues of 93.4 billion dinars and expenditure of 135.8 billion dinars. The primary deficit totalled 39.6 billion dinars.

Serbia’s budget balance showed a surplus equivalent to 1% of its gross domestic product (GDP) in 2017, finance minister Dusan Vujovic said in January. The government expects a budget deficit of 0.6% of GDP in 2018, he stated back then.

Source; SeeNews

// Related news