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Serbia's 2022 draft budget envisages lower deficit, debt - fin min

Author Radomir Ralev
Serbia's 2022 draft budget envisages lower deficit, debt  - fin min Source: Serbian Finance Ministry

BELGRADE (Serbia), October 19 (SeeNews) - Serbia's draft budget for 2022 envisages further reducing the deficit and debt-to-gross domestic product (GDP) ratio, finance minister Sinisa Mali said.

A large part of the budget will be allocated to capital projects to additionally support GDP growth and a significant amount will go to the so-called Green agenda, Mali said on Monday, as quoted in a statement by the finance ministry.

The budget draft, which will be submitted to parliament in the second half of November, envisages a rise in pensions and salaries in the public sector, Mali said during a meeting with an International Monetary Fund (IMF) mission, led by Jan Kees Martijn.

Serbia started talks with an IMF mission last week to discuss the achievement of goals defined by the economic programme defined by the Policy Coordination Instrument (PCI) for Serbia.

The IMF approved in June a new 30-month PCI for Serbia to support the recovery from the pandemic, maintain macroeconomic stability, and anchor the medium-term fiscal policy framework while pushing ahead with structural reforms to help deliver more inclusive and sustainable growth.