Serbia's budget deficit widens 4.4% y/y in Jan-April

In real terms, however, the four-month deficit was down 1.0% on the year, the ministry said in a statement.

Total budget revenue rose by a nominal 18% and was up by a real 12% on the year to 1.238 trillion dinars in the period under review, while expenditures increased by a nominal 18% and rose by a real 12% to 1.262 trillion dinars, the statement read.

Tax revenue increased by a nominal 20% on the year and rose by a real 14% to 1.110 trillion dinars in January-March, non-tax revenues rose by a nominal 23% and by a real 17% to 123 billion dinars, while grants shrank by a nominal 78% on the year and declined by a real 79% to 4.8 billion dinars in the four-month period.

On the expenditure side, capital expenditure increased by a nominal 15% on the year and rose by a real 9% to 143 billion dinars.

In April alone, Serbia's budget turned to a deficit of 6.1 billion dinars from a surplus of 1.7 billion dinars in April 2023.

In 2023, Serbia's consolidated budget deficit contracted to 181 billion dinars, from 225 billion dinars in 2022.

($ = 117.106 euro)