Serbia has budget surplus of RSD 27.2 billion

A budget surplus in the amount of RSD 27.2 billion was made in the period from January till September 2016, the Ministry of Finance reported.

As stated, the budget surplus, which includes project loans, which are not par of the budget, but belong to the level of the state, amounts to RSD 8.8 billion.

Capital expenditures financed by project loans increased in the period observed by RSD 5.9 billion, compared to the corresponding period of 2015.

In September, budget revenues amounted to RSD 81.7 billion, whereas expenditures amounted to RSD 86.4 billion, so the monthly deficit equaled RSD 4.6 billion.

Tax revenues amounted to RSD 65.3 billion in September.

VAT revenues equaled RSD 32.6 billion, with excise tax revenues amounting to RSD 18.6 billion.

Non-tax revenues of RSD 14.6 billion also made a contribution, with profit and dividend payments making up RSD 5.9 billion, whereas donations amounted to RSD 1.9 billion.

As reported by the Ministry of Finance, expenditures didn't change considerably compared to the previous month, except for increased interest payments, in line with the repayment plan.

The biggest expenditure items include staff costs and transfers to mandatory social insurance organizations (Pension and Disability Insurance Fund, NHIF, National Employment Service and Fund for Social Insurance of Military Beneficiaries).

Staff costs amounted to RSD 19 billion, and the transfer to the Pension and Disability Insurance Fund amounted to RSD 16.2 billion.

The report adds that the total state deficit at the end of the third quarter amounted to RSD 4.5 billion, and that the planned deficit within the IMF program amounted to RSD 115.2 billion.

A much better result was made in revenues, thanks to a more efficient collection of taxes (VAT, excise taxes, contributions, income taxes), but also thanks to larger one-off non-tax payments than expected.

Vojvodina had a budget surplus of RSD 2 billion, whereas the surplus in local self-governments amounted to RSD 7.4 billion. As for funds, the Fund for Social Insurance of Military Beneficiaries had a deficit of RSD 0.9 billion, whereas the deficit of the Pension and Disability Insurance Fund amounted to RSD 7.4 billion. The deficit of these two funds is financed by their last year's deposits.

The National Employment Service had a surplus of RSD 2.1 billion, and the NHIF's surplus amounted to RSD 2.8 billion, with the former one being a result of the dynamics of salary payments, as only half of monthly earnings are paid in healthcare in January, whereas one and a half salaries are paid in December.

State enterprises in charge of construction and maintenance of roads, Roads of Serbia and Corridors of Serbia, are largely financed by road infrastructure loans, and their total deficit amounted to RSD 19.2 billion.

Ministarstvo finansija Republike Srbije

Republički Fond za penzijsko i invalidsko osiguranje

Republički fond za zdravstveno osiguranje Beograd

Nacionalna služba za zapošljavanje Kragujevac

Fond za socijalno osiguranje vojnih osiguranika

JP Putevi Srbije Beograd

Koridori Srbije d.o.o. Beograd

budget surplus

Ministry of Finance

Pension and Disability Insurance Fund

NHIF

National Employment Service

Fund for Social Insurance of Military Beneficiaries

Roads of Serbia

Corridors of Serbia

VAT