Press realese: Montenegro Budget execution in the period January-March 2019 (GDDS table 03)

Budget revenues in the period January-February of the current year amounted to 371,3 mill. €, which is higher by 16,6 mill. € or 4,7% compared to the plan, while compared to the same period of 2018 it increased by 43,8 mill. € or 13,4%.

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 19,6 mill.€, contributions by 4,9 mill. € and excise by 1,3 mill.€. 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-March 2019 amounted to 439,8 mill. €or 9,2% of GDP and in relation to the planned they were lower by 79,3 mil. € or 15,3%. In the structure of consumption, current budget expenditures were realized at the level of 191,6 mil. € and was lower by 38,6 mill.€ or 16,8% than planned while the Capital Budget was realized in the amount 57,8% originally planned. The lower realization of current budget spending is the result of a lower realization of capital expenditures of the current budget, as well as other expenditures.

Having in mind the comparative period from the previous year, total amount of the expenses is higher than 42,3 mil. €, out of which Capital budget amounts 29,0 mil. € in the segment for project for  the construction of the priority section of the highway.

In the period January-March of the current year, the budget deficit has been realized in the amount of 68,5 mil. € or 1,4% of the GDP, which is 95,9 mil. € less than planned, i.e. 2,2% lower comparing the comparative period from the previous year.