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Serbia records 364.2 bln dinars (2.4 bln euro) budget deficit in Jan-Sept

Author Radomir Ralev
Serbia records 364.2 bln dinars (2.4 bln euro) budget deficit in Jan-Sept Source:

BELGRADE (Serbia), November 5 (SeeNews) – Serbia's budget was in deficit of 364.2 billion dinars ($2.8 billion/2.4 billion euro) in the first nine months of 2020, compared to a surplus of 49.9 billion dinars in the like period of 2019, official figures show.

Primary budget deficit totalled 278.5 billion dinars, versus a 145.9 billion dinars primary budget surplus in the first nine months of 2019, according to data published on the website of the finance ministry.

Total budget revenues fell by a real 2.4% on the year to 914.4 billion dinars in the period under review, while expenditure increased 45.5% to 1.279 trillion dinars.

Tax revenues edged down by a real 0.6% to 804.2 billion dinars, non-tax revenues went down 9.3% to 103.9 billion dinars, and grants increased to 6.3 billion dinars from 5.8 billion dinars.

On the expenditure side, current expenditure rose by a real 49.5% to 1.143 billion dinars, while capital expenditure went up to 108.1 billion dinars from 102.2 billion dinars in January-September 2019.

In September 2020 alone, Serbia reported a budget deficit of 19.6 billion dinars, based on revenues of 106.1 billion dinars and expenditure of 125.6 billion dinars. The primary deficit totalled 8.7 billion dinars.

In April, Serbia's government revised the 2020 state budget, increasing the projected fiscal deficit to 381 billion dinars in order to cover the costs of measures aimed at limiting the impact of the coronavirus crisis.

Serbia's budget balance showed a surplus of 12.8 billion dinars in 2019, compared to a surplus of 32.2 billion dinars in the previous year.

(1 euro = 117.571 dinars)