Fiscal policy

In recent weeks, there has been ongoing concern regarding the state's expenses for next year, with projections showing that costs far exceed available funds. As a result, savings are being emphasized. However, municipalities have raised concerns about how these cuts might impact their investment programs, questioning whether they will still receive subsidies from the state budget.

BELGRADE - Serbia's public debt stood at 38.13 bln euros at end-October, accounting for 46.5 pct of GDP, according to figures released by the Ministry of Finance.

Relative to the end of last year, the debt-to-GDP ratio declined from 48 pct.

On December 31 2023, the public debt totalled 36.15 bln euros.

Total spending on education across the country reached 1.1 trillion Turkish Liras last year, marking a phenomenal 92.5 increase compared to the figures for 2022, the Turkish Statistical Institute (TÜİK) has announced.

The Greek Finance Minister's permanent and declared concern is maintaining fiscal balance as a non-negotiable good. He is right. In any case, for a heavily indebted country like Greece, especially in the current conditions of international turmoil when swarms of uncertainties are sweeping the world, upsetting fiscal balance would be the worst thing that could happen to us.

Small and medium-sized enterprises (SMEs) will receive retroactive subsidies, with tax exemptions also under consideration.

The Ministry of Environment and Energy plans to extend electricity subsidies for households for at least the next three months. Businesses, particularly those excluded from the summer subsidies, will also receive support.

The government is set to implement a €100 million subsidy package to shield households and businesses from soaring wholesale electricity prices.

The plan includes direct subsidies and tax breaks for consumers, combined with a temporary tax on electricity producers' profits. 

The democratic process may empower dangerous demagogues but it can also bring about necessary reforms. And so, as Donald Trump returns to Washington, Germany appears to be moving towards loosening the "debt brake" which forbids the country from borrowing more than the equivalent of 0.35 percent of its GDP each year and impedes growth.

The government is ending all talk of "what will happen after 2032" with the Greek debt, when the interest payment of the second bailout begins - an issue frequently raised as a concern by some, even if in reality there is no such concern - thanks to the excellent management by the Public Debt Management Agency (PDMA), completely changing the policy around the debt.

The Ministry of Finance aims to address the growing housing problem by offering a dual incentive to taxpayers: a subsidy for the renovation of vacant properties and tax-free rental income. The “Renovate – Rent” program provides a subsidy of up to €8,100 for renovation expenses, while the income from the rental remains tax-free for three years.

Let’s see an example:

BELGRADE - Serbia's public debt stood at 38.15 bln euros on September 30, accounting for 46.5 pct of GDP, according to figures released by the Ministry of Finance.

Relative to the end of last year, the debt-to-GDP ratio declined from 48 pct.

On December 31, 2023, the public debt totalled 36.15 bln euros.