GDDS monthly data 02

Press release: Montenegro Budget execution in the period January-February 2019 (GDDS table 02)

Budget revenues in the period January-February of the current year amounted to 223,6mill. €, which is higher by 13,2mill. € or 6,3% compared to the plan, while compared to the same period of 2018 it increased by 34,9 mill. € or 18,5%.

All the most important categories of tax revenues recorded growth compared to the same period of the previous year, where the collection of VAT was  higher by 9,6 mill.€, contributions by 6,9 mill. € and excise by 1,4 mill.€ in relation to the same period of the previous year. The positive deviation of tax revenues is a result of economic activity growth, collection of tax arrears according to the Law on tax debt reprogramming as well as conducting of redefined excise policy.

Budget expenditures in the period January-February 2019 amounted to 267,2 mill. €or 5,6% of GDP and in relation to the planned they were lower by 63,4 mil. € or 19,2%. In the structure of consumption, current budget expenditures were realized at the level of 235,7 mil. € andwas lower  than planned while the Capital Budget was realized in the amount 58,7% originally planned. The lower realization of current budget spending is the result of a lower realization of expenditures for materials and services, as well as capital expenditures of the current budget, since these categories of costs are, to a large extent, conditioned by the implementation of tender procedures forpublic purschase. Accordingly, the mentioned expenditure category is characterized by a higher level of realization starting from the second quarter of the year.

Having in mind the comporativeperiod  from the previouse year, total amount of the expenses is higher than 42,0 mil. €, out of which Capital budget amounts 25,9 mil. €in the segment for project for  the construction of the priority section of the highway.

In the period January-February of the current year, the budget deficit has been realized in the amount of 43,6mil.€or 0,9% of the GDP, which is 76,6 mil. €less than planned, i.e. 19,4% less comparing the comparative period from the previouse year.