Public finances recorded a deficit of €461 million in 2020, which is by 130 million more than planned, suggest data of the Ministry of Finance. Of that amount, the minus amount was €422.6 million, Dan daily reported.
“The coronavirus pandemic and its impact on economic trends has greatly affected the 2020 public finances developments. A significant decline in public revenues triggered by the decline in economic activity and pressures on spending for additional financing of health system, as well as the implementation of socio-economic measures to help citizens and the economy, have resulted in the increase of the overall public spending deficit, which has been the largest since restoring independence,” says the document titled ‘2020 Analysis of Consolidated Public Spending’.
According to data of the Ministry of Finance, run by Mr Milojko Spajić, who succeeded Mr Darko Radunović, in 2020 public revenues amounted to €1.869 billion or 43.7% of the estimated gross domestic product, GDP, and were by €69.4 million less compared to planned revenues.
“Public spending in 2020 amounted to €2.33 billion or 54.5% of GDP, and is by €60.6 million or 2.7% higher than planned, while it is by €106.6 million or 4.8% higher compared to the year before, primarily due to the implementation of three packages of socio-economic measures aimed at combating the negative effects of the pandemic on citizens and the economy,” says the analysis.
