BREAKING NEWS

Serb parliament adopts 2013 budget, sees deficit at 3.3%

By REUTERS

DECEMBER 1, 2012 10:27

BELGRADE - Lawmakers in Serbia adopted a 2013 budget on Saturday, pledging to slash the deficit to 3.3 percent of national output and return the economy to growth of 2 percent as the government seeks new IMF funding.

The 2013 consolidated budget sets revenues at 956.4 billion dinars ($11.12 billion) and spending at 1,078 billion dinars.

The Balkan country is running a budget shortfall this year of around 6.2 percent of gross domestic product (GDP) as seen in the revised budget, while public debt has ballooned to 60 percent. GDP is forecast to contract 2 percent this year.

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