Serbia’s public debt at the end of November 2024 stood at 38.39 billion euros, which is 46.8% of its gross domestic product (GDP). This marks an increase of 2.24 billion euros compared to December 2023, although its proportion of GDP decreased from 48.0% at the close of last year.
Regarding the budget deficit, Serbia performed better than expected for the first 11 months of 2024, realizing a deficit of 70.9 billion dinars, 39.6 billion dinars lower than the revised plan, which projected a deficit of 110.5 billion dinars. The government’s revenue amounted to 1,931.6 billion dinars, while expenses totaled 2,002.6 billion dinars, with a 30.5 billion dinar deficit recorded in November alone.
In November, total revenue reached 167.6 billion dinars, with 141.8 billion dinars from taxes, including VAT (73.6 billion), excise duties (34.5 billion), and profit tax (15 billion). Non-tax revenue amounted to 24.7 billion dinars, with 1.1 billion dinars from donations.
Expenditures in November totaled 198.1 billion dinars, including capital spending of 45.7 billion dinars, employee compensation of 39.6 billion, social insurance transfers of 39.3 billion, and social protection costs of 15.1 billion.
For the January-November period, the state sector recorded a fiscal deficit of 56.5 billion dinars, alongside a primary fiscal surplus of 100 billion dinars.
