Press realese: Montenegro Budget execution in the period January-July 2019 (GDDS table 07)

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 35,4 mill.€, contributions by 17,5 mill. € and excise by 5,9 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-July 2019 amounted to 1.067,7 mill. € or 22,2% of GDP and in relation to the planned they were lower by 133,5 mil. € or 11,1%. In the structure of consumption, current budgetary consumption were realized at the level of 962,6 mil. € and was lower by 51,3 mill.€ or 5,1% than planned as a result of a lower realisation of almost all categories of expenses within Current budget expenditures. Besides this, the Capital Budget was realized in the amount 105,1 mil. €, which is lower by 82,1 mil. € or 43,9%  of planned due to slowdown in dynamic of the realisation of Highway project. 

Having in mind the comparative period from the previous year, total amount of budget expenditures is higher by 56,1 mil. €, due to the increase in Transfers to institutions, individuals, NGO and Public Sector, Gross Salaries and Contributions of Employer and Social Security Transfers.

In the period January-July of the current year, the budget deficit has been realized in the amount of 69,6 mil. € or 1,4% of the GDP, which is 143,9 mil. € less than planned and comparing the comparative period from the previous year was lower by 17,5 mil. €.