More money to be spent on capital projects in the 2021 budget review

The Serbian government has adopted amendments to the 2021 budget increasing budget revenues.

Now, the total budget revenues will total 1,488.5 billion dinars including 1,279.3 billion or 85.9 percent of the total in tax revenues (an increase of 111 billion Dinars), and non-tax revenue totaling 191.5 billion (an increase of 21.1 billion) or 12.9 percent with donations accounting for 1.2 percent of the budget.

“In the revenue projection, almost all revenue categories recorded an increase compared to the previous projection, while the largest positive changes were recorded in the collection of corporate income tax and VAT. Other categories were revised upwards due to a stronger-than-expected recovery in activity,” the government’s press release said.

It added that expenses are planned to total 1,792.95 billion dinars with a fiscal deficit of 304.5 billion (lower than the budget amendment in April) to stand at 4.9 percent of the GDP instead of the planned 6.9 percent of GDP.

“The public debt at the end of the year will be up to 58.2 percent, instead of 60 percent of GDP, as previously estimated,” the government said.

The government earmarked 388.9 billion dinars, or 6.3 percent of the GDP, for capital projects.

(Danas, 21.10.2021)

https://www.danas.rs/vesti/ekonomija/vlada-srbije-usvojila-predlog-rebalansa-budzata-za-2021-godinu-veca-kapitalna-izdvajanja/

This post is also available in: Italiano

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