The Serbian Finance Ministry stated today that Serbia’s budget deficit stood at RSD 17 billion during the first two months of 2010, revenues at RSD 89.9 billion and expenditure at RSD 106.9 billion.

VAT revenue, at RSD 47.2 billion, made up most of the state revenues, while excise revenue stood at RSD 15.2 billion and income tax receipts at RSD 10.4 billion.

Customs revenue stood at RSD 5.3 billion, profit tax revenue at RSD 4.9 billion, while other tax revenues stood at RSD 1.7 billion.

The largest expenditure of RSD 43.03 billion consisted of payments to obligatory social insurance organisations, while a sum of RSD 29.7 billion was used to fund salaries.

A sum of RSD 11.4 billion was provided for social welfare, RSD 5.2 billion for the purchase of goods and services, RSD 4.1 billion for subsidies and RSD 2.7 billion for paying interest.

The 2010 Budget Law envisages a total deficit of RSD 102.2 billion, revenues of RSD 660.7 billion and expenditure of RSD 762.9 billion.