Mali: Budget Rebalancing Bill to Boost Revenue, Support Welfare, Buy Energy

Sinisa Mali (BETAPHOTO/MILOS MISKOV/MO)

Serbian Minister of Finance Sinisa Mali said on Nov. 7 that the reasons to rebalance this year’s national budget were to increase revenue, finance a pension increase, assist young people and family and purchase fuels.

Speaking at the Parliament of Serbia to explain the move, Minister Mali said that until the end of 2022 revenue would reach a total of RSD1,490.6 billion, and the expenditure was expected to amount to RSD1,988.5, creating a deficit of 3.9 percent, as opposed to the original target of three percent.

“Aside from boosting  the revenue and providing funding for new energy purchases, the third reason to rebalance the national budget was to assist young people aged between 16 and 29 with a one-off payment of RSD5,000, providing them with an additional dose of safety and optimism,”

Mali added that another reason for the move was a nine-percent pension increase as of Nov. 1, to be financed by the Pension and Disability Fund, and the next to support families so as to encourage them to have more children and purchase their own homes, in order to boost birth rates.

Mali said that a steady gas supply had been ensured already, because Serbia’s gas storages are full and there’s a secured two-month supply in case gas lines have been severed.