Committee on Finance Adopts 2024 Serbian Budget Bill – Around RSD 600 Billion for Capital Investments

The Committee on Finance, State Budget and Control of Public Spending adopted the 2024 Budget Bill at the session at which the deputy prime minister and finance minister of Serbia, Sinisa Mali, presented that document. The Bill on the Republic of Serbia Final Budget Account for 2022 and the Bill on the Amendments to the Law on the Budget System were adopted too, the Ministry of Finance announced. Around RSD 600 billion is set aside for capital investments within the budget, which is 6.8% of the GDP, Mali said and added that the money was planned for projects such as the bypass route around Kragujevac, the beginning of the construction of EXPO, the National Stadium, the continuation of the construction of the Belgrade Subway, the tunnel in the center of Belgrade, the Fruska Gora Corridor, the Morava Corridor and the Preljina-Pozega and Backi Breg-Kikinda traffic routes.

– The budget is a continuation of the policy that we have been implementing for several years now, it is developmental, balanced, socially-oriented, with elements of precaution for reacting to crises – the minister believes.

As the minister points out, “Serbia is continuing the development of large infrastructure projects, with improving the living standard and the quality of living.”

– In December this year, the average salary in Serbia will amount to EUR 840, and next December, it will reach EUR 955. We are on the right path toward fulfilling our promise, which is for the average salary in 2025 to be EUR 1,000 – Mali assures.

As he said, the removal of charges on the economy is continuing as well, which is expected to preserve the employment rate and to further reduce the unemployment, which is now at 9.6%. He specified that the budget bill for 2024 envisaged bigger spendings for agriculture as well, RSD 118.8 billion, for healthcare, RSD 519.9 billion, higher expenditures for education, welfare and culture.

The total income and earnings envisaged by the 2024 budget bill amount to RSD 2,040.9 billion, which is RSD 136.9 billion, that is, 7.2% more compared to the income envisaged in the 2023 budget revision.

The 2024 Budget Bill envisages total expenditures and spendings in the amount of RSD 2,238 billion and a fiscal deficit of the budget of the Republic of Serbia of RSD 197 billion, which is 2.2% of the GDP and lower than the planned deficit for this year, which is projected at 2.8% of the GDP by the budget revision.

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

Narodna skupština Republike Srbije

Grad Beograd

Grad Kragujevac

Grad Sombor

Grad Kikinda

Opština Trstenik

Opština Vrnjačka Banja

Opština Požega

Opština Irig

Opština Ruma

Grad Kruševac

Grad Kraljevo

Grad Čačak

Government of Serbia

Ministry of Finance

National Assembly of Serbia

Committee on Finance State Budget and Control of Public Spending of the National Assembly of Serbia

Sinisa Mali

City of Belgrade

City of Kragujevac

City of Cacak

City of Kraljevo

City of Krusevac

City of Sombor

City of Kikinda

Municipality of Trstenik

Municipality of Vrnjacka Banja

Municipality of Pozega

Municipality of Irig

Municipality of Ruma

EXPO

Fruska Gora Corridor

Morava Corridor

Vojvodina Smile

highways

final account

GDP

capital projects

healthcare

ecology

national stadium

surplus

deficit

income

expenditures

budget