Economy of Pakistan

BELGRADE - Serbia had a budget deficit of RSD 109.8 billion in the first half of 2014, and July saw the first budget surplus this year, of RSD 6.9 billion, thanks to a strong budget performance when it comes to revenues and expenditures made, the Ministry of Finance said in a release on Monday.

July sees first budget surplus in 2014

BELGRADE -- Serbia had a budget deficit of RSD 109.8 billion in the first half of 2014, and July saw the first budget surplus this year, of RSD 6.9 billion.

It came "thanks to a strong budget performance when it comes to revenues and expenditures made," the Ministry of Finance said on Monday.

Turkey recorded a current account deficit of $4.09 billion for June, slightly exceeding market expectations, although it still contracted by over 14.5 percent compared to the same period last year, according to figures announced by the Central Bank.

BELGRADE - If salaries and pensions are not cut by 15 percent, the Serbian government will be forced to increase the value added tax by two percent, which is necessary to reduce the budget deficit, President of the Fiscal Council (FC) Pavle Petrovic said Thursday.

Greece’s primary budget surplus was 707 million euros in the first half of the year, some 70 million euros ahead of target, the Finance Ministry said on Monday.

During the same period last year Greece produced a primary deficit of 1.51 billion euros.

Greece beat its budget target for the first half of the year, with a primary surplus of 712 million euros, the Finance Ministry said on Monday.

This figure was far better than the government’s target of a 635-million-euro deficit.

“Fiscal targets are being met for a third consecutive year,» said Deputy Finance Minister Christos Staikouras.

BELGRADE - The deficit in the Serbian budget in January this year was RSD 7 billion, the Ministry of Finance has stated.

Budget revenue was RSD 72.2 billion and expenditure RSD 79.2 billion.

This information does not include the revenue and expenditure of indirect budget users, the ministry said.

Tax revenue was RSD 65.3 billion and non-tax revenue was RSD 6.3 billion.