Serbia Expects Rising Tax Intake

Politics ♦ Published: September 29, 2012; 06:54 ♦ (Vindobona)

In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.

Serbia Expects Rising Tax Intake / Picture: ©

As Serbia is forced to obtain a new precautionary loan by IMF, a tax intake was resolved. Thus, the tax revenue should grow by 3.3% to € 7.2bn. The deficit will be lowered to 6.2% of GDP to € 1.7bn. Last year, Serbia´s budget deficit reached 7.1% of GDP. The public debt level comes at 55%. At the end of 2012, the debt level may reach 60% of GDP.

The VAT rate will increase to…