Serbian Parliament adopts budget for 2015

Serbian parliament members have adopted this morning, after 20 hours of discussion, budget 2015 which comprises profit of RSD 924,4 billion and expenditures totaling RSD1.082 billion.

Members adopted the second budget rebalance of Serbia for 2014, which does not change the budget mass but some nine billion is distributed on items which will not be spent on old debts.

There were160 votes ”for” and five “against”. The expenditures for the first time contain state-owned guarantees which have been so far “below the line” with which total lack in the republic budget will be RSD 191,4 billion which is some 4% GDP.

Expenditures referring to payment of principal amount for previous loans (RSD 30,7 billion) and financial property procurement (RSD 2,1 billion),not counting the costs, budget deficit would total RSD 158,6 billion.

The lack of consolidated budget will total RSD 231,9 billion, i.e. some 6% GDP. Budget for the next year is projected based on the forecast that 2015 will see GDP fall of 0,5%, and inflation of 4%, plus or minus 1,5%.

The budget comprises indebtness of RSD 706,6 billion for funding deficit, procurement of financial property and principal amount payment to creditors.

In 2015, Serbia will provide guarantees for loans of public companies totaling RSD up to 81,72 billion, i.e. EUR 681 m.

Budget tax payment collection, as planned, will total RSD764,2 billion, RSD 399,4 billion of which is VAT payment collection.

Excises payment collection should total RSD 215, 7 billion, RSD 122,4 billion of which should go on oil derivative excise. Based on customs payment collection, income should total RSD 29, 2 billion.

Major budget expenditures for the next year will be dotation to organizations of compulsory social insurance totaling RSD 274,8 billion and salary payment of RSD 241,2 billion. Expenditures for social protection will total some RSD 126,2 billion.

Budget subsidies are planned to be RSD 80,6 billion and capital expenditures will be RSD 49,2 billion.

Reimbursement payment budget totals RSD more than 20 billion, mainly for the employees working in companies in restructuring.