Serbia’s government targets a fiscal deficit of RSD 264bn (EUR 2.2bn), equivalent to 3.3% of the projected gross domestic product (GDP) in the 2023 draft budget, it said.
The draft budget targets revenues of RSD 1.843tn and expenses of RSD 1.965tn, according to the draft legislation posted on the parliament’s website on Friday.
General government debt is projected to decline to 56.1% of GDP at the end of 2023.
“The draft budget envisages a 12.1% increase in pensions next year, whereas the minimum wage in the country will rise by 14.3%,” finance minister Sinisa Mali said, as quoted in a statement published on the finance ministry website.
“The salaries of employees in the public sector will increase by 12.5% as of next year,” he added.
GDP growth in 2023 is estimated at 2.5% in the budget draft.
Serbia’s budget was in surplus of RSD 456.4m in the first eight months of 2022, compared to a RSD 70.8bn deficit recorded in the same period in 2021.
The budget bill is now pending approval by parliament.
Source: SeeNews, Momentum
