Budget result in 2016 better than planned by EUR 1 billion – Further stabilization of public finance goal for 2017

The Government budget surplus for 2016 is RSD 5.09 billion, nearly a billion more than initially reported, said Prime Minister Aleksandar Vucic. He stated that there had been more payments in the first days of January, making the surplus RSD 5.09 billion, instead of RSD 4.3 billion.

Vucic said that the result was better than planned by RSD 126.8 billion, i.e. by a billion euros. The planned result was deemed good by the IMF and the World Bank, and was also defined as a desirable result at the National Assembly.

The biggest contribution was made by increased revenues, which have exceeded the plan by RSD 87.3 billion, around EUR 730 million (9.1%) more. Tax revenues are higher by 7.1%, and non-tax revenues by 27.7%. According to him, the result is good due to expenditures lower by RSD 39.5 billion (3.7%) than planned as well. The state deficit has been estimated at 1.4%, three times better than projected.

– An important job lies ahead of us in the current year. We expect further stabilization of public finance, low inflation, increased growth of GDP. We have formed special bodies and councils to that end. We expect further lowering of the unemployment rate, more factories and jobs, as well as a possibility of salary and pension raises – the prime minister said.

Vucic pointed out that it had been estimated that average salaries in Serbia in March or April would amount to around EUR 400. – I know that life is hard for people of Serbia, but we hope that we will live better with each year – he said.

Vlada Republike Srbije

Međunarodni monetarni fond-MMF Beograd

Svetska Banka-WB Beograd

budget surplus

budget of Serbia

Aleksandar Vucic

IMF

World Bank

tax revenues

tax collection

budget deficit

stabilization of public finance

inflation

GDP of Serbia

unemployment

salary and pension raises

average salary in Serbia