Montenegrin budget records EUR 88 million more revenues in first 10 months of 2013 compared to 2012

Podgorica, Montenegro (1 November 2013) – In the period from January - October 2013, the Montenegrin budget recorded EUR 88 million more revenues compared to the same period last year, Finance Minister Radoje Žugić told the press conference following the Cabinet meeting on Thursday.

“The state collected EUR 88 million more revenues compared to the same period last year or EUR 53.4 million more than it was planned. October was particularly interesting,” FM Žugić continued, “as  EUR 117.7 million was collected, representing an increase of 12.2% in relation to the plan. In comparison with 2012, the collection of public revenues in 2013 increased at the rate of 18%. Compared to 2011, which was economically stronger, the collection rate exceeds 29.6%,” Finance Minister Žugić explained.

The effects of the introduced measures of fiscal adjustment and discipline were notable in the first ten months of 2013, FM Žugic stressed, expecting the positive trend to be continued in November and December. This would eliminate the dilemma whether it is necessary to balance the budget or not, he concluded.