Serbia’s budget deficit in the first 11 months of 2011 totaled RSD 122.8 billion, as generated revenues amounted to RSD 627.8 billion, and expenditures to RSD 750.6 billion, the Serbian Finance Ministry released (EUR 1=RSD 101).
From January to November, the largest revenue was generated from the value added tax (VAT) – RSD 309.67 billion, and excise duties – RSD 135.29 billion.
The highest incurred expenditures were those for employees (RSD 184.67), and transfers to social security funds (RSD 251.32 billion).
Budget revenues produced in November total RSD 60.1 billion. Tax revenues amounted to RSD 55.1 billion, and non-tax revenues to RSD 5.1 billion.
The remaining categories of tax revenues are at the usual level for this period of the year, and the largest revenue was yielded based on VAT and excise duties.
Budget expenditures in November reached RSD 71 billion. Transfers to other levels of government have also increased due to the rise in funds allocated for the Autonomous Province of Vojvodina, envisaged by the budget review.
Other categories of current expenditures are at the usual level for the reference period. The main items of the state budget are expenditures for employees and transfers to social security funds, whose largest part refers to the transfer to the Pension and Disability Insurance Fund, intended for the payment of pensions.
The 2011 budget review envisaged RSD 850.1 billion revenues, RSD 707.34 billion expenditures and a RSD 142.7 billion budget deficit.
Source emg.rs
