Page 141 - SE Outlook Regions 2024

The debt-to-GDP ratio reached 50.5%, up from 47.3% at the end of 2022. The ratio, as published by the finance ministry (to be revised after the publication of Q3 GDP data), marks a new record for the country’s indebtedness.
Updated GDP as of the end of September will dilute the ratio to perhaps just under 50%.
Romania’s public debt already increased in the first three quarters of 2023 more than it increased in the entire 2022 or 2021.
6.10 Budget and debt - Serbia
The Serbian parliament adopted the state budget for 2024 in October. The budget deficit has been set at 2.2% of the country’s GDP or RSD197bn (€1.7bn), the government announced.
This is a reduction from the previous year's revised budget, which had a deficit of 2.8% of GDP.
Commenting on the budget, the International Monetary Fund said that despite some ad-hoc spending measures, Serbia’s fiscal consolidation remains on track. The 2024 budget, with its fiscal deficit of 2.2% of GDP, reflects a commitment to a tight policy stance, aiming to reduce the deficit further to 1.5% of GDP in 2025 in line with the fiscal rule, the IMF said.
Under the provisions of the 2024 budget, Serbia's state coffers are projected to amass a total of RSD2,041bn in revenue, with expenditures estimated at RSD2,238bn. This is an increase in revenues of 7.2%, compared to the amount envisaged in the 2023 budget revision. Expenditures are expected to rise by 5%.
141 SE Outlook 2024 www.intellinews.com