Serbian parliament adopts state budget for 2013

The Serbian parliament adopted a draft state budget for 2013 on Saturday morning, which envisages deficit of RSD 121.9bn or 3.3 percent of GDP.

Izvor: Beta

Saturday, 01.12.2012.

10:48

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BELGRADE The Serbian parliament adopted a draft state budget for 2013 on Saturday morning, which envisages deficit of RSD 121.9bn or 3.3 percent of GDP. 138 MPs voted for the draft, 69 voted against it and three MPs did not vote. Serbian parliament adopts state budget for 2013 The ruling coalition supported the budget while opposition MPs did not vote for the budget because it is “unrealistic” and because “it will make the lives of citizens significantly harder”. During the debate, the MPs mostly disagreed over the financing of Vojvodina. According to the state budget for 2013, the economic and fiscal policy will be aimed at macroeconomic stability, speeding up of economic growth and slowing down the unemployment rate, reduction of fiscal deficit, slowing down public debt growth and structural reforms. According to the draft budget, total revenue will be RSD 965.7bn and expenditures RSD 1.087bn, while the deficit would be RSD 121.9bn or 3.3 percent of GDP. It is estimated that GDP growth in 2013 will be two percent and that the inflation will be 5.5 percent. A modest economic growth in 2013 is expected based on recovery in most economic sectors and improvement of the economy in countries that are Serbia’s main foreign-trade partners. The fiscal consolidation will in 2013 be based on tax reform, limited growth of pensions and wages in public sector, savings through reforms and increased efficiency of the public sector. The deadline for the adoption of the state budget for 2013 was December 15 and this is the first time after many years that it was adopted on time. (Tanjug) Beta Tanjug

Serbian parliament adopts state budget for 2013

The ruling coalition supported the budget while opposition MPs did not vote for the budget because it is “unrealistic” and because “it will make the lives of citizens significantly harder”.

During the debate, the MPs mostly disagreed over the financing of Vojvodina.

According to the state budget for 2013, the economic and fiscal policy will be aimed at macroeconomic stability, speeding up of economic growth and slowing down the unemployment rate, reduction of fiscal deficit, slowing down public debt growth and structural reforms.

According to the draft budget, total revenue will be RSD 965.7bn and expenditures RSD 1.087bn, while the deficit would be RSD 121.9bn or 3.3 percent of GDP.

It is estimated that GDP growth in 2013 will be two percent and that the inflation will be 5.5 percent.

A modest economic growth in 2013 is expected based on recovery in most economic sectors and improvement of the economy in countries that are Serbia’s main foreign-trade partners.

The fiscal consolidation will in 2013 be based on tax reform, limited growth of pensions and wages in public sector, savings through reforms and increased efficiency of the public sector.

The deadline for the adoption of the state budget for 2013 was December 15 and this is the first time after many years that it was adopted on time.

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