Serbia recorded a budget deficit of RSD 34.8bn (EUR 296.8m) in the first five months of 2023, compared to a shortfall of RSD 71bn in the like period of 2022, the finance ministry said on Wednesday.

Total budget revenues rose by a real 9.6% on the year to RSD 718.3bn in the period under review, while expenditures went up by 3.7% to RSD 753.1bn, the finance ministry said in a statement.

Tax revenues increased by a real annual 6.8% to RSD 630.1bn in the January-May period of 2023, non-tax revenues rose by 7.3% to RSD 67bn, while grants soared to RSD 21.3bn from RSD 2.7bn in the like period of 2022.

In May alone, Serbia’s budget was in deficit of RSD 780m, after booking a deficit of RSD 5.4bn in April.

At the end of 2022, Serbia’s consolidated budget deficit stood at RSD 235.2bn.

Source: SeeNews, Momentum