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The Government of the Republic of Serbia

In the service of citizens

Government adopts 2023 budget revision bill

Belgrade, 2 September 2023

The Serbian government adopted today the Bill on Amendments to the Budget Law for 2023, which foresees that the total planned revenues amount to RSD 1,904 billion and are RSD 60.6 billion higher than what was planned in the initial budget.

The projected fiscal deficit of the budget of the Republic of Serbia amounts to RSD 227.5 billion, which is 2.8 percent of GDP. Initially, 3.3 percent, or RSD 264 billion, was projected, so a better result than planned was achieved.

The budget revision will provide funds for new capital projects and investments, an additional RSD 23 billion. These allocations were increased from RSD 427.2 billion to RSD 452.3 billion, which is 5.6 percent of GDP.

This means money for the ring road around Kragujevac, the beginning of the construction of the necessary infrastructure for the specialized EXPO exhibition, the tunnel in the centre of Belgrade between the streets Karadjordjeva and Bulevar Despota Stefana, work on the construction of the Belgrade subway and the Fruska Gora Corridor. Part of the funds will be earmarked for additional subsidies in agriculture, as well as for the treatment of rare diseases and medical treatment abroad.

The revision of the budget for 2023 is a continuation of the policy of further economic empowerment of Serbia, support for citizens and the economy, as well as overcoming the effects of the world crisis with as few consequences as possible for our country.

This means that the priority remains improving the standard of living of citizens, strengthening the economy, with a focus on helping farmers and the continuation of the large investment wave that was started, i.e. the realization of the largest capital projects in the field of infrastructure, transport, health and sports.