June budget deficit reported as "lowest this year"

In June, Serbia's budget deficit stood at RSD 4.3 billion, the lowest level since the beginning of 2013, the Ministry of Finance and Economy has said.

Izvor: Tanjug

Thursday, 04.07.2013.

11:03

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BELGRADE In June, Serbia's budget deficit stood at RSD 4.3 billion, the lowest level since the beginning of 2013, the Ministry of Finance and Economy has said. "That proves that measures aimed at stabilizing the state budget started yielding first results," the ministry notes. June budget deficit reported as "lowest this year" In the first five months of 2013, the budget deficit amounted to RSD 18.7 billion on average. In the period from January to June, the budget deficit amounted to RSD 97.9 billion in total, with revenues equaling RSD 383.1 billion, and expenditures RSD 481 billion. The budget stabilization in June is a result of spending cuts, but also stricter financial discipline and better revenue collection than in previous months, the release reads. According to the ministry's data, the authorities collected RSD 71.1 billion in revenues in June, while expenditures amounted to RSD 75.4 billion. The largest part of revenues came from VAT payments amounting to RSD 26. 8 billion, while in June the record revenues of RSD 23.8 billion generated from excise duties were registered. The tax administration will step up on-the-ground activities, adopting a zero tolerance approach to the lack of financial discipline, and exerting stringent control over non-registered firms and those who do not issue fiscal receipts, the ministry noted. Tanjug

June budget deficit reported as "lowest this year"

In the first five months of 2013, the budget deficit amounted to RSD 18.7 billion on average.

In the period from January to June, the budget deficit amounted to RSD 97.9 billion in total, with revenues equaling RSD 383.1 billion, and expenditures RSD 481 billion.

The budget stabilization in June is a result of spending cuts, but also stricter financial discipline and better revenue collection than in previous months, the release reads.

According to the ministry's data, the authorities collected RSD 71.1 billion in revenues in June, while expenditures amounted to RSD 75.4 billion.

The largest part of revenues came from VAT payments amounting to RSD 26. 8 billion, while in June the record revenues of RSD 23.8 billion generated from excise duties were registered.

The tax administration will step up on-the-ground activities, adopting a zero tolerance approach to the lack of financial discipline, and exerting stringent control over non-registered firms and those who do not issue fiscal receipts, the ministry noted.

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