Serbian Parliament passes the 2018 Budget Bill

The Serbian Parliament adopted today the Budget Bill for 2018 which stipulates budget revenues in the amount of 1,178 billion dinars and expenditures amounting to 1,207 billion dinars.

The planned fiscal deficit for the next year is 0.6 percent of the GDP, or 28.4 billion dinars, which is 40.7 billion dinars lower than the planned deficit in the 2017 budget.

150 parliament members voted in favour of the bill, 12 were against it, there were no abstentions, while two deputies did not vote.

The budget also stipulates a 10 percent increase of public sector wages, and a 5 percent increase in pensions.

In addition to higher civil servant salaries and pensions, more money will be invested next year. Also, the ban on new employment in the public sector has been extended until the end of 2018.

The next year’s budget is based on projections that economic growth, in 2018, would be 3.5 percent of GDP, with a GDP deflator of 2.8 percent and a consumer price index of 2.7 percent.

This projection of the GDP growth, among other things, is also based on the higher aggregate demand through an increase in salaries and pensions, as well as on planned increase in state investments.

A total of 128.3 billion dinars are allocated for capital investments, out of which most money (54 billion) will be spent on investments in infrastructure. Compared to this year, state investments in 2018 will be 30% higher, and will amount to 180 billion dinars.

(Blic, 14.12.2017)


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