The Serbian Finance Ministry said on Wednesday that the budget deficit in the first eight months of the year totaled 344.6 billion Dinars (1 Euro – 118 Dinars).
The deficit in August alone stood at 20.9 billion Dinars with collected income totaling 97.7 billion, including 89.7 billion in tax revenue. VAT income totaled 42.6 billion Dinars, profit tax 18.9 billion and duties 18.2 billion. Non-tax budget income totaled 7.5 billion Dinars while donations totaled 0.5 billion.
Expenses reached the level of 118.6 billion Dinars with the pension, health and other funds receiving 25.5 billion Dinars, subsidies totaling 24.8 billion and expenses for employees 24.8 billion.
The overall state fiscal deficit totaled 339.9 billion Dinars in the first eight months of 2020 while the primary fiscal deficit stood at 263.9 billion. The public debt stood at 26.61 billlion Euro at the end of August or 56.7 percent of the GDP for the year. The public debt stood at 23 billion Euro or 52 percent of the GDP at the end of 2019.