Press realese: Montenegro Budget execution in the period January-May 2019 (GDDS table 05)

Budget revenues in the period January-May of the current year amounted to 680,5 mill. €, which is higher by 24,5 mill. € or 3,7% compared to the plan, while compared to the same period of 2018 it increased by 57,4 mill. € or 9,2%.

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 27,0 mill.€, contributions by 11,3 mill. € and excise by 2,0 mill.€. The positive deviation of tax revenues is a result of positive macroeconomic movements, collection of tax arrears according to the Law on tax debt reprogramming, conducting of redefined excise policy as well as strengthening fiscal discipline.

Budget expenditures in the period January-May 2019 amounted to 733,9 mill. € or 15,3% of GDP and in relation to the planned they were lower by 125,6 mil. € or 14,6%. In the structure of consumption, current budget consumption were realized at the level of 664,9 mil. € and was lower by 60,8 mill.€ or 8,4% than planned as a result of a lower realisation of all categories of expenses within Current expenditures. Besides this, the Capital Budget was realized in the amount 69,0 mil. €, which is lower by 64,7 mil. € or 48,4%  of planned.

Having in mind the comparative period from the previous year, total amount of budget expenditures is higher by 40,3 mil. €, out of which Capital budget amounts 9,1 mil. €.

In the period January-May of the current year, the budget deficit has been realized in the amount of 53,4 mil. € or 1,1% of the GDP, which is 150,1 mil. € less than planned and comparing the comparative period from the previous year was lower by 17,0 mil. €.

Attachment: GDDS 05_montly data-f.xlsx