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The Government of the Republic of Serbia

In the service of citizens

Parliament approves revised budget

Belgrade, 4 November 2008

Today the Serbian parliament approved the revised 2008 budget, according to which total budget revenues will be RSD 650.17 billion, expenses RSD 695.95 billion. The deficit will increase by RSD 4.8 billion.

The revised budget was approved with 127 MPs voting in favour and 17 against, while nine of the 153 MPs did not vote.

The revised 2008 budget will increase the budget deficit from RSD 40.9 billion to RSD 45.7 billion until the end of the year.

Budget revenues will increase by RSD 10.5 billion and expenditure by RSD 15.4 billion.

A sum of RSD 12.7 billion will be allocated from the budget for increasing pensions, funds for work on the Belgrade ring road and Corridor 10 have been increased to RSD 2.3 billion and RSD 1.97 billion has been set aside for investments and investment shares in the joint enterprise with the Fiat Group.

The biggest change is a RSD 7 billion increase in agricultural subsidies.

Addition funds of RSD 2.9 billion will be provided for current budgetary reserves.

Unemployment benefits which have not been paid for the last three months will also be increased.

Subsidies and transfers form 33.3% or RSD 247.5 billion of total budget expenditure, of which RSD 178.7 billion will go towards obligatory social insurance.

Amendments to 2008 financial plan were also approved which concern the Pension and Disability Insurance Fund, the National Employment Service and the National Health Service.