Fiscal Council: Proposed Serbian Budget for 2021 Should be More Restrictive
In the proposed budget for 2021, the Government of Serbia projects a deficit on the level of the republic of RSD 178.5 billion, which is 3% of the GDP, and a slightly higher deficit on the level of general state of around RSD 180.3 billion, but, according to the Fiscal Council, in case of a lower economic growth, the deficit could be at around 4% of the GDP, and the share of the public debt in the GDP, instead of being scaled back, would continue to grow to over 60% of the GDP.
– If unfavorable epidemiological circumstances continue in 2021, perhaps a new (certainly smaller) economy aid package will be required, which would burden the public finances. Due to so many uncertainties, we assess that the budget for 2021 should have been planned more carefully, with a deficit of up to 2% of the GDP, as we recommended to the government in November 2020 – the Fiscal Council said in its assessment of the Draft Law on the Budget.
Most Important News
06.04.2024. | Agriculture
Preconditions for Placement of Fresh Blueberries and Dried Plums in Chinese Market Secured
16.04.2024. | News
Jovan Ciric, Leasing Director Retail MPC Properties – MPC Echo symbolizes our desire for good ideas and innovative endeavors to spread freely and bring about positive changes
16.04.2024. | News
10.04.2024. | Finance, IT, Telecommunications, Tourism, Sports, Culture
Creative Industry – What This Serbian Economy Sector Worth EUR 2 Billion Encompasses
10.04.2024. | Finance, IT, Telecommunications, Tourism, Sports, Culture
18.04.2024. | Industry, Finance
Here come the new hunters for Serbian gold – Australian Strickland Metals buys mining project on mountain Rogozna
18.04.2024. | Industry, Finance
16.04.2024. | News
Economy Fair in Mostar opens – 26 companies from Serbia exhibiting
16.04.2024. | News
18.04.2024. | Transport
Jovanovic: Purchase of Siemens trams produced in Kragujevac for GSP Beograd should be considered
18.04.2024. | Transport