Parliament passes 2014 budget
The Serbian parliament passed the 2014 budget this week by 134 to 40 votes. Revenues for the forthcoming year will be 929.94 billion Dinars (£6.79 billion; $11.1 billion) and expenditure will be 1.113 trillion Dinars (£8.12 billion; $13.3 billion). The government deficit has been set at 7.1%, up from 6.5% this year.
The government also announced that it was capping public sector wages and pensions and reducing subsidies on state owned companies. The government is also expected to raise taxes and will raise around €6 billion (£5 billion; $8.24 billion) through loans and fresh debt.
You can find the Fiscal Strategy for 2014 with projections for 2015 and 2016 (in English) here.
The official announcement of the Budget as published on the Serbian government website is as follows:
“Law on 2014 budget adopted
Belgrade, 13 Dec 2013 – Serbian Parliament members adopted today, within the statutory deadline of 15 December, the Law on the budget of the Republic of Serbia for 2014.
The law envisages revenues in the amount of RSD 929.94 billion, expenditures worth RSD 1.113 trillion and a deficit of RSD 182.5 billion, or 4.6% of the projected GDP.
The law was voted for by 134 MPs and 40 were against.”
According to the projected budget, Serbia will record a slight economic growth of 1% next year.”