2015 budget bill arrives in parliament
Pparliament has received the 2015 budget bill, which projects the next year's revenue at RSD 924.4 billion and expenditure at around RSD 1,083 billion.
Thursday, 18.12.2014.
14:49
2015 budget bill arrives in parliament
The expected expenditure is down 2.8 percent compared to the 2014 budget review, while the total revenue will be 3 percent higher.The biggest expenditure items in next year's budget will be transfers to mandatory social insurance organizations, RSD 274.8 billion, which is a drop of 2.1 percent, followed by employee costs, RSD 241.2 billion, or 8.5 percent less than after 2014 budget review.
The biggest reduction in expenditure for the 2015 budget is planned in subsidies, which will be at around RSD 80.6 billion, or 14.1 percent less than this year.
The biggest revenue sources should be taxes, up to RSD 764.2 billion, with VAT revenue expected at RSD 399.4 billion and excise taxes at RSD 215.7 billion (the excise taxes on petroleum products alone should be RSD 122.4 billion), while the remaining non-tax revenue should be around RSD 154.2 billion.
The government believes the GDP will have a negative growth in 2015, -0.5 percent, that consumer prices will rise by 4.2 percent year-on-year and that the unemployment rate will be 21.3 percent.
The bill also covers RSD 20 billion for severance pays, mostly for employees of government companies undergoing restructuring, but the authorities have not yet come out with any estimates as to how many people will lose their job in the government sector.
According to the budget system law, the budget bill for the next year should be adopted by the government by November 1 and by the parliament by December 15, so the current bill is behind schedule.
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