Government approves Montenegro 2013 budget bill

Podgorica, Montenegro (14 December 2012) – At today’s session, the Government approved Montenegro’s Budget Bill for 2013.

The bill forecasts budget revenues amounted to EUR 1.161.8 billion or 33.26% of GDP. The revenues are to increase by EUR 11.74 million, bearing in mind the estimated real economy growth of 2.5% in 2013 and measures that are to be undertaken and result in more efficient collection of taxes and reduction of grey economy.

In 2013, the budget spending is projected to amount to EUR 1.257.1 billion or 35.99% of GDP.

The planned budget deficit for 2013 amounts to EUR 95.29 million, representing 2.73% of GDP, thus remaining below the Maastricht criteria.

The 2013 budget bill also envisages the issuance of guarantees worth EUR 66.2 million aimed at boosting economic activity, primarily related to development projects in energy, maritime industry, etc.

The 2013 capital budget is planned at the level of EUR 65.6 million, that is 1.86% of GDP. Besides the funds envisaged by the budget, there is the possibility of withdrawing additional funds worth EUR 106,7 million for projects financed by the international institutions, that have already been signed and are available to the Montenegrin government.