Сажето поређење извршења буџета опште државе и буџета Републике у 2016. у односу на план за 2016. годину дато је у .
1 General government deficit at the end of 2016 stood at RSD 57,1 billion. Although both revenues and expenditures increased, revenues grew by a larger amount, so that the general government deficit was lower than in previous year (when it was RSD 149,1 billion). Fiscal balance (surplus or deficit) by levels of general government: Budget of the Republic of Serbia recorded a deficit of RSD 33.7 billion – a decrease of RSD 96.1 billion in relation to 2015; At the local level: Budget of the Autonomous Province (AP) of Vojvodina recorded a surplus (of RSD 2.4 billion), is an improvement compared to the previous year, when a deficit was recorded. Revenues of the AP Vojvodina’s budget increased and expenditures slightly decreased in relation to 2015; Surplus of the budgets of cities and municipalities (of RSD 6.8 billion) increased, because revenues grew by a larger amount than expenditures; In total, social security funds recorded a surplus, which was lower than the one reached in the previous year. As far as individual social security funds are concerned: Pension Fund and Military Health Fund recorded deficits, while Health Fund and National Employment Service recorded surpluses; Based on their public revenues and expenditures PE “Roads of Serbia“ and “Corridors of Serbia“ ltd. recorded a deficit (of RSD 32.7 billion). It increased in relation to the previous year, mostly because of the lower collection of road tolls by “Roads of Serbia“ and higher capital expenditures. Detailed data on fiscal balance by levels of general government are presented in 1 (below) and in (in Annex).
4 4.1 Total receipts of the state amounted to RSD 529.2 billion in 2016. They are dominantly related to the domestic borrowing, i.e. taking loans from domestic commercial banks and emission of state securities in the domestic financial market. Total receipts decreased by around RSD 115 billion compared to 2015, mostly because the Republic issued less securities in the domestic financial market. Receipts by levels of general government in 2016: Majority of the receipts of general government is related to the budget of the Republic. The receipts of the budget of the Republic, including capital expenditures financed from project loans, amounted to RSD 478 billion. For the most part they refer to the emission of state securities in the domestic financial market, and to a less extent to the loans taken from foreign governments and international organizations; Receipts of the budget of AP Vojvodina totalled RSD 2.3 billion, and they mostly include loans taken from domestic commercial banks; Receipts of cities and municipalities totalled RSD 11.5 billion, and they mostly relate to domestic borrowing; Receipts of social security funds are negligible compared to the total receipts of the general government; they mostly refer to the repayment of loans extended by these organizations; Receipts of PE “Roads of Serbia“ or „Corridors of Serbia“ ltd. amounted to RSD 36.4 billion, and they include loans from the foreign governments and international financial organizations. 4.2 Expenses of the state totalled RSD 517.8 billion as of end-2016. They relate almost entirely to the payment of the principal of the public debt. They are by around RSD 900 million lower than in 2015, mainly due to lower expenses for the acquisition of financial assets. Expenses by levels of general government in 2016: Out of the Republic’s budget RSD 499.4 billion relates to the payment of the principal of the public debt; At the local level of government, as well as in the case PE “Roads of Serbia“ and „Corridors of Serbia“ ltd., expenses refer exclusively to the payment of the principal of loans; As opposed to other levels of government, receipts of the social security funds almost entirely relate to the acquisition of financial asset FINANCIAL
1 - Table 1 REVENUES, EXPENDITURES AND THE FISCAL RESULT OF THE STATE By levels of general government, in RSD million 2016 Budget of the Republic 1) Local level Social security funds “Roads of Serbia“ and „Corridors of Serbia“ Consolidated balance 2) REVENUES, of which: 1,041,921 320,116 835,121 27,795 1,842,658 Public revenues without transfers 1,041,921 241,616 540,546 18,576 Transfers from other levels of government 0 78,500 294,575 9,220 PUBLIC EXPENDITURES, of 1,075,636 311,000 834,920 60,458 1,899,720 Public expenditures without transfers 758,838 302,437 778,594 60,458 Transfers to other levels of government 316,798 8,562 56,326 0 SURPLUS (+) or DEFICIT (-) -33,715 9,116 201 -32,663 -57,062 Source of data: Ministry of finance 1) Expenditures of the budget of the Republic include expenditures financed from project loans disbursed to the institutions that belong to the level of the Republic. 2) Consolidated general government balance does not include transfers between levels of general government.
Table 4 ACCOUNT By levels of general government, in RSD million 2016 Budget of the Republic Local level Social security funds “Roads of Serbia“ and „Corridors of Serbia“ Consolidated balance Receipts, of which: 478,011 13,849 973 36,405 529,238 Privatization proceeds 4,290 584 362 0 5,236 Receipts from repayment of loans 1,510 389 611 0 2,509 Domestic borrowing 415,942 9,797 0 0 425,740 Foreign borrowing 56,269 3,079 0 36,405 95,753 Expenses, of which: 499,445 17,151 529 659 517,784 Payment of principal to domestic creditors 429,433 13,054 1 659 443,146 Payment of principal to foreign creditors 68,683 4,097 0 0 72,781 Acquisition of financial assets 1,328 0 529 0 1,857 Source of data: Ministry of finance