Belgrade’s city budget increased by 4.61 percent

NEWS 06.07.201916:34
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The City Council on Saturday approved a proposal for restructuring the city budget for 2019 and the decision was forwarded to the City Assembly for adoption.

According to deputy mayor Goran Vesic, the budget was increased by 4.61 percent, Beoinfo reported.

Vesic pointed out that the fiscal deficit accounted for 7.9 percent of total budget expenditures and pointed out that this is far less than the maximum 10 percent allowed by the law. He argued that practically Belgrade has no deficit, as it is fully covered by the surplus from last year.

The deputy mayor explained that the budget was increased „because in the first six months of this year, we have a higher income from citizens’ personal income taxes by 3.4 percent.“

„Higher revenues from these two taxes are the result of an increase in the number of those employed, as well as wage growth in the territory of Belgrade,“ concluded Vesic.