Serbia’s govt approves cut to 2023 budget deficit

The budget bill is now pending approval by parliament.

The original 2023 budget projected a deficit equivalent to 3.3% of GDP.

The budget revision will provide funds for new capital investments totalling an additional 23 billion dinars, the government said in a press release on Saturday.

The additional funds will be used for infrastructure projects, subsidies for farmers and the treatment of rare diseases abroad.

Total revenue is expected to come in at 1.904 trillion dinars, compared to the original target of 1.843 trillion dinars. Expenditures were revised up by 1.14% to 2.131 trillion dinars.

Serbia recorded a budget surplus of 14.5 billion dinars in the first half of 2023.

At the end of 2022, Serbia's consolidated budget deficit stood at 235.2 billion dinars.

1 euro = 117.195 dinars