The budget deficit last year was 419.5 million euros or 9.8 % GDP, and 83.6 million higher than planned, according to data from the Ministry of Finance and Social Welfare, the daily Pobjeda reports.
The Ministry stated that the pandemic and measures aimed at preventing the spread of the virus negatively affected the entire economy.
“Compromised liquidity of the economy due to limited economic activity in the context of the pandemic, as well as the need for additional financing to implement measures to support the economy and citizens, have led to the highest budget deficit since regaining independence”, the Ministry stated.
They pointed out that, even in conditions when the unfavorable epidemiological situation limited economic activity and led to a negative movement of fiscal parameters, the liquidity of the budget was successfully preserved and all planned budget obligations were settled on time.
According to the report, budget revenues last year were 1.64 billion euros, or 38.3% of estimated GDP, which is 65.9 million less than planned in the supplementary budget.
