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Serbian budget deficit from January to April better than expected

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The budget deficit of Serbia from January to the end of April this year was 34 billion dinars, which is 55.7 billion better than the budget plan, because the deficit was previously expected to be 89.7 billion dinars, the Ministry of Finance announced. When it comes to public debt, it is at the level of 50.6 percent of GDP.

In April, budget revenues amounted to 562.4 billion dinars, and expenditures to 596.4 billion dinars, and the deficit was 5.4 billion dinars.

During April, revenues were collected in the amount of 140.4 billion dinars, of which tax revenues amounted to 126.1 billion.

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The largest part of tax revenues refers to the payment of VAT in the amount of 66.7 billion dinars and excise duty in the amount of 26.8 billion. Non-tax revenues were realized in the amount of 13.9 billion, and the inflow of donations in April amounted to 400 million dinars.

Expenditures were 145.8 billion dinars. Expenses for employees amounted to 33.1 billion, capital expenditures 22.8 billion, transfers to mandatory social insurance organizations (PIO fund, RFZO, NES, SOVO fund) 20.7 billion, and expenditures for the “acquisition of financial assets” (budget loans) 14 billion dinars.

At the state sector level, in the period January-April, the fiscal deficit was 23.5 billion dinars and the primary fiscal surplus was 37.3 billion dinars, according to the announcement.

Public Debt

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The public debt of Serbia at the end of April this year was around 34.94 billion euros, which is 50.6 percent of the gross domestic product (GDP), the Ministry of Finance announced.

At the end of March, public debt was 35.25 billion euros, or 51 percent of GDP.

At the end of 2022, the public debt was, as stated, 33.33 billion euros, or 55.1 percent of GDP.


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