What does Draft Law on 2016 Budget bring? - Bigger subventions as well as taxes

According to the draft law on the budget for 2016, Serbian Finance Minister planned a total revenue of RSD 995.79 billion the next year, up RSD 71 billion from this year. As the daily Politika reports, total expenditures in 2016 are projected at RSD 1,117 billion, only two billion more than the previous year. The Budget deficit in 2016 is expected to reach RSD 121.81 billion, RSD 70 billion less than the last year.
This is a proposal for the state budget and has nothing to do with local and provincial budgets and funds. As Politika already announced, the 2016 consolidated deficit at the level of the entire country is projected at RSD 164 billion. This means that the deficit of the whole republic will account for 4% of the gross domestic product (GDP), that is, everything that citizens and the economy create in one year. Practically, deficit will remain at the same level as this year. At the end of 2015, the whole country's deficit will account for 4.1% of GDP, while consolidated revenues will total RSD 1,647 billion. Expenditures will also be somewhat higher than this year - at RSD 1,811 billion. In other words, revenues will account for 39.8% and expenditures for 43.8% of GDP.
What can be seend from the Draft Budget for 2016 is that the revenue from excise taxes on oil derivatives is expected to reach RSD 136 billion, up RSD 14 billion from the year 2015. Public companies are planned to pay a profit of EUR 8 billion to the budget. This year's plan for these revenues was to exceed RSD 15 billion. Vujovic also expects public agencies to pay additional about RSD 1.5 billion to the budget next year.
Subventions total RSD 86 million, up RSD 6 billion from this year. Subsidies for the economy will be increased from 13 to 15 billion, donations for agriculture will be reduced by RSD 1 billion (to RSD 27 billion). Subventions for railways will grow significantly, soaring from this year's 11 to as much as 19 billion dinars. Grants for tourism will go up half a billion dinars, while those for culture will be cut in half (from eight to four billion dinars). Transfers to the Pension and Disability Insurance (PIO) Fund will be reduced by RSD 1 billion than the last year (RSD 219 billion).
The plan is also to issue EUR 1 billion eurobonds in 2016.

Ministarstvo finansija Republike Srbije

Republički Fond za penzijsko i invalidsko osiguranje

Transparentnost Srbija Beograd

Republička izborna komisija Beograd

Law on Budget

budget for 2016

Finance Ministry

Dusan Vujovic

budget deficit

excise tax on oil

excise tax on oil derivatives

public companies

government subsidies

Pension and Disability Insurance Fund

Eurobond

eurobonds