March 6 (SeeNews) - Serbia's finance ministry said its estimates point to an increase of the consolidated budget surplus in the first two months of 2017 to 11.5 billion dinars ($98.8 million/93.1 million euro), up from 10.2 billion dinars in the equivalent period of 2016.
The result in the first two months of 2017 is higher by 37.3 billion dinars than the initial forecast, proving that the fiscal consolidation measures go in the right direction, the finance ministry said in a statement on Friday.
Budget revenues came in 12.2% above plan at 18.2 billion dinars.
The correctness of Serbia's fiscal policy has been recently confirmed by the International Monetary Fund, which praised the excellent results achieved in all segments of the agreed reforms, especially in the area of fiscal consolidation, the ministry said.
Serbia's consolidated budget deficit decreased by a real 62.2% to 57.1 billion dinars in 2016. Total consolidated budget revenues grew by a real 7.5%, reaching 1.843 trillion dinars, while spending increased 1.9% to 1.9 trillion dinars.
(1 euro = 123.574 dinars)