Press realese: Montenegro Budget execution in the period January-October 2018 (GDDS table 10)

Trends in macroeconomic environment are positively reflected to collection of budget revenues, which are, according to the preliminary data, amounted to 1.418,8 mill.€ in January-October and compared to the plan they are lower by 5,1 mill.€ or 0,4% while compared to the same period last year they are higher by 163,9 mill.€ or 13,1%.

All of the main categories of tax revenues are higher compared to the same period last year. Collection of Corporate Income Tax was higher by 39,8%, Taxes on Sales of Property by 16,6%, Value Tax Added by 14,3%, Personal Income Tax by 6,3%, and contribution by 6,8% compared to the same period last year.

In the same period non-tax revenues increased, so fees are higher by 23,4%, duties by 42,9%, and Receipts from Repayment of Loans by 47,7%. Also, donations are recorded significant growth. In the part of non-tax revenues in particular, it should be noted that other revenues are almost two times higher than the same period of 2017.

Budget expenditures in the same period amounted to 1.456,7 mill.€ or 31,6% of estimated GDP of which is financed current budget expenditures in the amount of 1.284,9 mill.€ and capital budget in the amount of 171,8 mill.€. Compared to the plan budget expenditures are lower by 92,9 mill.€ or 6,0% which is primarily a result of lower capital budget which is lower by 27,0% than plan , but at the same time higher by 31,1% compared to the previous year whereby the realization of the funds planned in the part of the Capital Budget mostly determines the intensity of the works on the Priority section of the Highway. 

On the other side, Current budget spending has been achieved at lower level than planned, since the deviation of this category of consumption is 2,2% compared to the previously planned.

In the structure of current expenditures, main negative deviations are recorded at: Social security transfers in the amount of 16,1 mill.€ or 3,5% and Transfer to institutions, individuals, NGOs and the public sector in the amount of 11,1 mill.€ or 6,6%.

In the period January-October of the following year budget deficit was 37,9 mill. € or 0,8% of GDP  which is 68,5% lower than the same period of previous year, and in October budget deficit was 12,7 mill.€ or 0,3% of estimated GDP.

Attachment: Copy of GDDS 10_montly data-f.xlsx