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The Government of the Republic of Serbia

In the service of citizens

2023 Budget Bill preserves fiscal stability

Belgrade, 5 December 2022

Prime Minister Ana Brnabic stated today that the proposed budget for next year follows the priorities that were presented in the keynote address for the period until 2024, and one of them is the maintenance of fiscal stability.

Outlining to the Members of the Serbian parliament the 2023 Budget Bill, Brnabic stated that the planned deficit is 3.3 percent of the gross domestic product (GDP), noting that the deficit in the 2022 budget revision amounted to 3.9 percent, which means that we are returning to the pre-crisis years when it comes to this parameter.

We have an ever larger budget for capital investments, we invest in energy, education, science, innovation, culture. Public debt will be below 60 percent of GDP, or 56.1 percent, which is very important. We have space and we will continue to fight to constantly increase salaries and pensions, she said.

The Prime Minister pointed out that cumulatively, with the increase from November and January, pensions will increase by 20.8 percent, and salaries in the public sector will increase by 12.5 percent from January, in the armed forces by 25 percent, while the minimum wage will be increased by 14 .3 percent and will amount to RSD 40,022.

She stated that economic growth of 2.5 percent is planned for next year, which, due to all the problems that have occurred in the world, is less than previously predicted.

As she said, capital investments will continue, for which RSD 423.9 billion or 5.3 percent of GDP have been allocated, while allocations for agriculture amount to RSD 79.9 billion, which is an increase of approximately RSD 1.1 billion in comparison to this year.

She pointed out that the budget proposal provides RSD 31.5 billion for environmental protection, that is, for the relevant ministry, while an additional RSD 13.3 billion has been allocated for these purposes within the Ministry of Construction, Transport and Infrastructure, which is RSD 4.1 billion more compared to this year.

As one of the most important projects in the field of environmental protection, Brnabic cited the construction of a sewage network in 93 locations, and subsidies for the purchase of electric vehicles continue, which affects the improvement of air quality.