Press realese: Montenegro Budget execution in the period January-June 2019 (GDDS table 06)

Budget revenues in the period January-June of the current year amounted to 824,0 mill. €, which is higher by 20,8 mill. € or 2,6% compared to the plan, while compared to the same period of 2018 it increased by 60,1 mill. € or 7,9%.

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 27,7 mill.€, contributions by 14,5 mill. € and excise by 3,1 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-June 2019 amounted to 887,3 mill. € or 18,5% of GDP and in relation to the planned they were lower by 130,8 mil. € or 12,9%. In the structure of consumption, current budget expenditures were realized at the level of 805,4 mil. € and was lower by 52,2 mill.€ or 6,1% than planned as a result of a lower realisation of almoust all categories of expenses within Current budget expenditures. Besides this, the Capital Budget was realized in the amount 81,9 mil. €, which is lower by 78,6 mil. € or 49,0%  of planned.

Having in mind the comparative period from the previous year, total amount of budget expenditures is higher by 31,6 mil. €, due to the higher realisation of transfers to institutions, individuals, NGO and public sector.

In the period January-June of the current year, the budget deficit has been realized in the amount of 63,3 mil. € or 1,3% of the GDP, which is 151,6 mil. € less than planned and comparing the comparative period from the previous year was lower by 28,5 mil. €.

Attachment: GDDS 06_montly data.xlsx