National Assembly passes 2018 budget bill
The Serbian National Assembly on Thursday passed the 2018 budget bill, which envisions revenues of RSD 1,178 billion and expenditures of 1,207 billion.Source: Tanjug, srbija.gov.rs
The planned national fiscal deficit for 2018 is 0.6 percent of GDP, or 28.4 billion, which is 40.7 billion below the deficit planned in the 2017 budget.
The bill was passed by 150 votes in favor, 12 against, none abstained, while two members of the assembly did not vote.
In 2018, an increase in wages by ten percent in the public sector is envisaged and five percent in the administration, as well as an increase in pensions by five percent.
In addition to the space for higher salaries and pensions, more money for investments is also earmarked.
Next year's budget is planned based on projections that economic growth in the next year will be 3.5 percent of GDP, with a GDP deflator of 2.8 percent and a consumer price index of 2.7 percent.
A total of RSD 128.3 billion is planned for capital investments, of which the largest amount, RSD 54 billion, is for infrastructure.
In relation to the realization in the current year, investments next year will for the first time be 30 percent larger and will amount to more than RSD 180 billion at the level of the general government, or RSD 128 billion at the level of the Republic.