Statement of The Deputy Prime Minister and Finance Minister, Mr. Igor Lukšić, PhD., on the occasion of determining the Fiscal Policy Statements (Macroeconomic and Fiscal Policy Guidelines) for the period 2011-2013, Proposal of the Law on Census of Populat

Forecasted economic growth for next year is 3%, provided however, that we did not anticipate improved estimates of the International Monetary Fund for Montenegrin economy, based on which, forecasted GDP of Montenegro will increase by 4.7% in the next year. However, it seems more rational to stick to out forecasts and to base the medium - term budgetary trends accordingly. In 2012, we will enter the zone of budgetary balance, and in 2013 we could record a budgetary surplus of 1.5% of GDP. As for the consolidated budgetary balance, excluding municipalities, percentages are similar, therefore, the budget deficit next year will be at around 2.32%, and the balanced budget in 2012, after which we will generate surplus of 1.5 % of GDP. The growth in wages funds and subsidies should be limited and the capital budget should be retained at the level of 3 to 3.5%, generating additional investment demand and long-term economic development...