Vujovic: Deficit Twice Lower Than Planned

In the first three months of the year, the budget deficit of Serbia was lower by 2.5 times than originally planned, show the official data of the Finance Ministry.

Collection rate for VAT, excise duty and non-tax revenues is increasing, and in case the tendency persists, conditions will be created to discuss an increase of salaries and pensions, Serbian Finance Minister Dusan Vujovic said late on Sunday.

During the news programme broadcast by Radio-Television of Serbia, Vujovic said that the planned revenues totalled RSD 23 billion, while the realised revenues were twice higher, totalling over RSD 42 billion.

He noted that an increase of VAT collection is being recorded since September, which is a result of hard work, higher degree of grey economy reduction and improved discipline.

It seems that the consumption is not dropping, people are spending and consumption-based VAT is increasing, Vujovic said and underscored that this is for the most part a sign of improvement of the economic discipline and trends.

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