Serbia's budget deficit in the first half of 2011 totals RSD 71.7 billion, with revenues amounting to RSD 327.9 billion, and expenditures to RSD 399.6 billion, the Serbian Finance Ministry released in a statement Monday.

The biggest revenue was generated from the VAT (RSD 160.17 billion), and excise duties (RSD 66.61 billion).

The largest expenditures were incurred for salaries (RSD 98.98 billion), and transfers to social security funds (RSD 133.76 billion).

According to the 2011 Budget Law, the envisaged budget revenues are RSD 726.4 billion, and expenditures RSD 846.92 billion. The planned budget deficit was RSD 120.52 billion.