RSD 1.9 billion budget surplus in first two months of 2015

BELGRADE - In the first two months of this year, thanks mostly to fiscal consolidation measures and higher non-tax revenues, Serbia saw a budget surplus of RSD 1.9 billion.

In February, revenues amounted to RSD 69 billion and expenditures to RSD 80.7 billion, the Ministry of Finance said in a report, adding that the it did not include revenues and expenditures of indirect budget users.

In the month, non-tax revenues were RSD 11.5 billion, including RSD 1.8 billion in dividends from public enterprises and RSD 2.5 billion revenues from 4G mobile licenses.

Tax revenues amounted to RSD 57.2 billion and donations to RSD 0.3 billion in the month.

Cuts made in public sector salaries and pensions were the most significant fiscal consolidation measures.

The first two months of 2015 saw an RSD 4.6 billion budget surplus at the general government level.

END-FEBRUARY PUBLIC DEBT AT 71.9% OF GDP

Serbia's public debt amounted to EUR 23.7 billion at the end of February equivalent to 71.9% of the gross domestic product (GDP), data from the website of the country's Ministry of Finance showed.

At the end of 2014, the public debt was lower by around EUR 1 billion, equivalent to 70.9% of GDP.

The public debt at the end of 2013 stood at EUR 20.1 billion, while in 2012 it amounted to EUR 17.7 billion, i.e. 56.2% of GDP.

The budget system law limits Serbia's debt to 45 percent of GDP.