Podgorica, (MINA-BUSINESS) – According to the Ministry of Finance, Montenegro recorded a budget deficit of €124 million in the first three months, which is 1.45 percent of the estimated gross domestic product (GDP).

“Taking into account the revenues and expenditures for the period from January to March, a budget deficit of €124 million was recorded, which is 70.7 million better than the planned deficit of €194.8 million,” the March budget execution report states.

The Ministry said that budget revenues in the first three months of this year amounted to €635.4 million, or 7.4 percent of estimated GDP. 

Revenues exceeded the plan by 4.3 percent and were 9.5 percent higher compared to last year.

“Budget revenues are recording strong and stable growth, exceeding the plan and showing a significant increase compared to the previous year. This growth is the result of very good collection of VAT and excise duties, alongside continuous and stable positive trends in other key revenue categories. Such trends confirm the broad-based stability of public finances and create a reliable foundation for further economic growth,” the Ministry said.