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Serbia posts 46.6 bln dinars (397 mln euro) 8-mo budget surplus – fin min

Author Radomir Ralev
Serbia posts 46.6 bln dinars (397 mln euro) 8-mo budget surplus – fin min Sinisa Mali; Source: Serbian Government

BELGRADE (Serbia), September 12 (SeeNews) – Serbia's budget was in surplus of 46.6 billion dinars ($437.3 million/397.2 million euro) in the first eight months of 2019, finance minister Sinisa Mali said.

The budget is recording surplus for a third year running, Mali said in a press release on Wednesday, adding that that the planned increases in wages, pensions and minimum labour cost are realistic because of the economic policy of the government.

Serbia's 2019 budget envisages a deficit of 22.9 billion dinars, equivalent to 0.4% of the estimated gross domestic product (GDP).

Earlier this week, Mali said the government has proposed to increase the minimum hourly net wage by 11.1% to 172.5 dinars as of next year. The government also plans to increase salaries in the public sector by November 1 and lift pensions by 5.1% - 5.5% as of January 1, 2020, Mali said.

Serbia's budget surplus fell to 48.5 billion dinars in the first seven months of 2019 from 49.1 billion dinars in the prior-year period, official figures showed earlier this week. The budget was in surplus of 32.2 billion dinars in 2018, compared to a surplus of 33.9 billion dinars in the previous year.

(1 euro = 117.299 dinars)