Press realese: Montenegro Budget execution in the period January-September 2018 (GDDS table 09)

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 42,7%, Taxes on Sales of Property by 23,7%, Value Tax Added by 14,4%, Personal Income Tax by 7,0%, and contribution by 6,2% compared to the same period last year.

In the same period non-tax revenues increased, so fees are higher by 46,7%, duties by 23,9%, and Receipts from Repayment of Loans by 58,0%. Also, donations are recorded significant growth. In the part of non-tax revenues in particular, it should be noted that other revenues are almost 1.4 times higher than the same period of 2017.

Budget expenditures in the same period amounted to 1.298,4 mill.€ or 29,3% of estimated GDP of which is financed current budget expenditures in the amount of 1.153,9 mil.€ and capital budget in the amount of 144,5 mill.€. Compared to the plan budget expenditures are lower by 76,9 mill.€ or 5,6% which is primarily a result of lower capital budget which is lower by 30,9 % than plan , but at the same time higher by 43% 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 a slightly lower level than planned, since the deviation of this category of consumption is only 1.1% compared to the previously planned.

In the structure of current expenditures, main negative deviations are recorded at: Social security transfers in the amount of € 13.8 million or 3.3% and Transfer to institutions, individuals, NGOs and the public sector in the amount of € 9.0 million or 6,0%.

In the period January-September of the following year budget deficit was 25,3 mill. € or 0,6% of GDP  which is 75,3% lower than the same period of previous year, and in September budget surplus was 21,2 mill.€ or 0,5% of estimated GDP. In the period January-September 2018 primary budget surplus amounted to 45,3 mill.€ or 1,0% of GDP.

Attachment: Copy of GDDS 09_montly data-f.xlsx