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Serbia adopts 2012 budget
Dec 29, 2011, 21:57 GMT
Belgrade - The Serbian parliament passed the country's 2012 budget on Thursday, projecting moderate growth along with smaller inflation and a slightly reduced deficit.
The budget is based on an expected growth rate of 1.5 per cent, with a deficit of 4.25 per cent of gross domestic product (GDP) and an annual inflation rate of 5.5 per cent.
The revenues are projected at 750 billion dinars (9.41 billion dollars) and expenditures at 890 billion.
The budget was backed by 128 of the 250 legislators surrounding President Boris Tadic's coalition, while the opposition boycotted the vote and walked out after the debate.
The budget was one of the final major tests for the fragile governing coalition, as elections are due in Serbia in 2012, probably in the second quarter.
Tadic's pro-European alliance has grown very fragile in recent months, amid growing Western pressure on Serbia to normalize ties with its former, mostly Albanian province Kosovo.
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