Speech of Mr. Igor Lukšić, PhD, the Deputy Prime Minister and Finance Minister, on the occasion of passing the Draft Budget Law Final Account of Montenegro for 2008

Total receipts of the budget were by 0,74% higher than planned, generating the surplus of around 0,4% GDP. GDP real growth is 8,1%, and nominal 18,8%, indicating dynamic growth of Montenegrin economy in last year. Crises effects was postponed to the certain extend. Montenegro has low level of public debt, the public debt in last year amounted to 26,8% GDP, unemployment fell to 10,8%. Consolidated public consumption amounts 46,6% GDP or 1,55 billion Euros. Consolidated public expenditures reduced by total capital expenditures amounted to 37,32%. This is a confirmation that the structure is recovering against infrastructure-related investments. In last year consolidated expenditures of the budget amounted to 38,1% GDP, and current expenditures amounted to 33,6%. This is undoubtedly favorable public expenditure structure. The amount of deposits at the end of last year was 96,58 million Euros. The State disposed of around 23,6 million Euros in gold. The Parliament should decide on budget rebalance by the end of July of the current year. All intentions of the Government should be reflected in the budget of the state...