Press realese: Montenegro Budget execution in the period January-November 2019 (GDDS table 11)

Budget revenues in the period January-November of the current year amounted to 1.642,0 mill. € or 34,1% of GDP, which is higher by 1,3 mill. € or 0,1% compared to the plan, while compared to the same period of 2018 it increased by 81,0 mill.€ or 5,2%.

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 72,5 mill.€, contributions by 17,0 mill. € and excise by 13,5 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 of inspection controls.

Budget expenditures in the period January-November 2019 amounted to 1.752,9 mill. € or 36,4% of GDP and in relation to the planned they were lower by 77,6 mil. € or 4,2%. In the structure of consumption, Current budgetary consumption were realized at the level of 1.540,8 mil.€ and was lower by 8,0 mill.€ or 0,5% than planned as a result of a lower realisation of current expenditures, and that is: Gross Salaries and Expenditures for Supplies, also Transfers to institutions, individuals, NGO and Public Sector. Besides this, the Capital Budget was realized in the amount of 212,1 mil. €, which is lower by 69,6 mil. € or 24,7%  of planned, whereby the realization of the funds planned in the part of the Capital Budget is largely determined by the intensity of works performed on the Highway priority section. Having in mind the comparative period from the previous year, total amount of budget expenditures is higher by 94,1 mil. € or 5,7%.

According to revenue and expenditure trends, in the period January-November of the current year, the budget deficit has been realized in the amount of 110,9 mil. € or 2,3% of the GDP, which is 78,9 mil. € or 41,6% less than planned and comparing the comparative period from the previous year was higher by 13,1 mil. € or 13,4%.

In the same period, a surplus of Current budgetary consumption was recorded in the amount of 101,2 mill.€ or 2,1% of GDP.