Serbia registers 79.6 bln dinar budget deficit in January-November 2025

BELGRADE - Between January and November 2025, Serbia registered a 79.6 bln dinar budget deficit, which is 114.4 bln dinars less than a planned 194 bln deficit.

Revenues in the period totalled 2,056.7 bln dinars, while expenditures stood at 2,136.3 bln dinars.

According to figures released by the Ministry of Finance, a 2 bln dinar deficit was registered in November alone.

November revenues totalled 227.1 bln dinars, while expenditures amounted to 229.1 bln dinars.

Tax revenues amounted to 150.5 bln dinars and were mostly comprised of VAT (78.8 bln), excise duties (35.5 bln) and corporate tax (17.7 bln).

Non-tax revenues amounted to 76.1 bln dinars and donations stood at 0.5 bln dinars.

In November, expenditures for employees totalled 52.8 bln dinars, transfers to the pension and disability insurance fund, the national health insurance fund, the military social insurance fund and the national employment service totalled 35.5 bln dinars, with subsidies at 17.1 bln dinars, capital expenditures at 60.8 bln, social protection at 19.6 bln and expenditures for goods and services at 19.7 bln dinars.

At general government level, a 72.8 bln dinar fiscal deficit and a 76.2 bln dinar primary fiscal surplus were registered in the first eleven months of 2025, the ministry said.

(1 euro = 117.32 dinars)