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Government Of Serbia Adopts 2021 Budget Bill

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At today’s session, the government of the Republic of Serbia adopted the Bill on the Budget of the Republic of Serbia for 2021, which envisages total budget revenues and receipts in the amount of RSD 1,336.3 billion, which is an increase of RSD 45 billion in relation to the estimated amount of income for 2020.

The budget for 2021 envisages total expenditures and expenses in the amount of RSD 1,514.8 billion.

The projected deficit in 2021 amounts to three percent of GDP, while the public debt at the level of the general government is decreasing and will remain at the level of 58.7 percent until the end of the year.

From 1 January, the budget envisages an increase in pensions according to the Swiss formula of 5.9 percent, minimum wages by 6.6 percent, as well as an increase in salaries of health care employees by 5 percent, other employees in the public sector by 3.5 percent, and then from 1 April 2021, the total increase for them will be 5 percent.

In 2021, fiscal policy measures on the revenue side are also envisaged in order to further reduce the tax burden on wages.

It is planned to increase the non-taxable part of the gross salary from RSD 16,300 to RSD 18,300 from 1 January.

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Capital expenditures are in the total amount of 273.9 billion dinars, which represents 18.08 percent of total expenditures.

The package of economic measures for mitigating the consequences of the COVID-19 virus, during 2020, created the conditions for faster economic recovery and the achievement of dynamic growth in 2021.

The expected recovery of the economy will accelerate the inflow of foreign direct investments, which will provide full coverage of the current account deficit in 2021

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