MALI: Budget surplus in 2019 at RSD 12.8 billion

Serbian Finance Minister Sinisa Mali has stated that there was a budget surplus for the fourth year in a row and that the year 2019 had been the most successful one since the time all economic parameters started being observed.

– There is a budget surplus for the fourth year in a row and it amounts to RSD 12.8 billion – the minister said on TV Pink.

He said that the results were great, especially regarding the growth rate, which was 4.4% in 2018 and 4% in 2019.

– The third quarter was 4.8%, when we shared the first place which it comes to the growth rate in Europe with Hungary – Mali said.

He also pointed out that the unemployment rate had dropped below 10% for the first time since 1996, when it started being measured.

– In 2013, the unemployment rate was 25%, and now it's 9.5% - Mali specified.

The minister pointed out that the average salary in December had been EUR 500, that new highways had been built and that the plan of further investments in the country was of great importance.

– We have presented the “Serbia 2025” program, based on which we want to have the average salary be EUR 900 in five years, with average pensions at EUR 440. With the planned EUR 14 billion in investments in the upcoming period, I expect an even quicker and stronger growth – Mali said.

He points out that there is plenty that needs to be done in Serbia and that there's great potential that needs to be used.

– We avoided bankruptcy in 2013, and the difficult measures of fiscal consolidation are behind us. Salaries are increasing, pensions are higher by 5.4% from January. I believe that there's great potential for us, especially in public companies, in their restructuring, such as EPS. Such companies can boost our economy's growth even further and we will concentrate on that – Mali explained.

The minister concluded that, in the upcoming period, in addition to the restructuring of public companies, they would also work on digitization, eGovernment, but also foreign direct investments.

Akcionarsko društvo Elektroprivreda Srbije Beograd

Ministarstvo finansija Republike Srbije

Vlada Republike Srbije

budget of Serbia

fiscal policy

growth rate

average salary