Government adopts draft budget for 2013

BELGRADE The Serbian government on Thursday adopted a draft budget for 2012 which envisages a deficit worth RSD 121.9bn or 3.3 percent of GDP. The draft budget envisages revenue worth RSD 956.4bn and expenditures are expected to amount to RSD 1.078bn. Government adopts draft budget for 2013 The budget deficit will therefore be reduced by RSD 81.7bn when compared to 2012. “The budget represents a balance between saving and incentive,” Finance and Economy Minister Mladjan Dinkic told a press conference after the government session and stressed that the budget was adopted unanimously. The minister announced that the draft budget would be adopted by parliament by November 20. The deficit of the republic budget, which includes Vojvodina budget and municipal budgets as well as funds, will be RSD 132.3bn or 3.6 percent of the GDP. The overall state revenue in 2013 should be RSD 1.685.2bn while expenditures should amount to RSD 1.817.5bn. According to plans, Serbia should have a two-percent GDP growth next year and the inflation should be 5.5 percent. The budget increased expenditures for social protection by about RSD 7bn and the biggest saving will be made in expenditures for incentives, that have been reduced by RSD 7bn. The budget cuts were made wherever it was necessary but the draft will prevent the poorest categories of the population from carrying the burden of the economic crisis. Expenditures for the purchase of goods and services were reduced by RSD 4.6bn and expenditures for budget loans by RSD 4.1bn. The 2013 budget was drafted in a manner that enables prevention of the public debt growth. The budget deficit will soon be halved and it will be 3.6 percent of GDP. The deficit in 2012 was 6.8 percent. The budget for 2013 was adopted in accordance with the budget calendar which was not the case in the last six years. Beta

Government adopts draft budget for 2013

The budget deficit will therefore be reduced by RSD 81.7bn when compared to 2012.

“The budget represents a balance between saving and incentive,” Finance and Economy Minister Mlađan Dinkić told a press conference after the government session and stressed that the budget was adopted unanimously.

The minister announced that the draft budget would be adopted by parliament by November 20.

The deficit of the republic budget, which includes Vojvodina budget and municipal budgets as well as funds, will be RSD 132.3bn or 3.6 percent of the GDP.

The overall state revenue in 2013 should be RSD 1.685.2bn while expenditures should amount to RSD 1.817.5bn.

According to plans, Serbia should have a two-percent GDP growth next year and the inflation should be 5.5 percent.

The budget increased expenditures for social protection by about RSD 7bn and the biggest saving will be made in expenditures for incentives, that have been reduced by RSD 7bn.

The budget cuts were made wherever it was necessary but the draft will prevent the poorest categories of the population from carrying the burden of the economic crisis.

Expenditures for the purchase of goods and services were reduced by RSD 4.6bn and expenditures for budget loans by RSD 4.1bn.

The 2013 budget was drafted in a manner that enables prevention of the public debt growth. The budget deficit will soon be halved and it will be 3.6 percent of GDP. The deficit in 2012 was 6.8 percent.

The budget for 2013 was adopted in accordance with the budget calendar which was not the case in the last six years.