Podgorica, (MINA-BUSINESS) – According to the Ministry of Finance, Montenegro recorded a budget deficit of €178.2 million in the first 11 months of this year, equivalent to 2.2 percent of estimated gross domestic product (GDP).

 

“Despite increased spending on social protection and capital projects, the budget deficit amounted to €178.2 million in the first 11 months of this year, which is €77.7 million more than planned. At the same time, a current expenditure surplus of €62.1 million was recorded, further confirming fiscal sustainability and sound public finance management,” the Ministry stated in a press release.

 

The ministry added that the results clearly show that Montenegro is posting strong fiscal performance this year, with stable revenue growth, responsible spending, and the continuation of positive economic trends, while preserving macroeconomic stability and strengthening the financial security of the state and its citizens.

 

“Budget results for the period from January to November confirm the country’s strong fiscal capacity, the stability of public finances, and efficient management of revenues and expenditures, alongside a pronounced positive trend in key tax categories,” the Ministry stated.

 

Total budget revenues amounted to €2.54 billion in the first 11 months, or 31.3 percent of estimated GDP, which is 1.8 percent more compared to the same period last year.

 

“Revenue collection at 97 percent of the plan clearly confirms the continuity of fiscal discipline and the reliability of budget planning,” the Ministry representatives said.

 

A particularly strong contribution to revenue growth was recorded in key tax categories. Corporate income tax amounted to €230.2 million, or 11 percent more than in the same period last year. This amount was also 6.9 percent above the plan.

 

Personal income tax amounted to €94.5 million, increasing by 25.9 percent year-on-year, and was also higher than planned.

 

“Value added tax (VAT) amounted to €1.27 billion, up 14.5 percent year-on-year, while the plan was exceeded by €20.3 million,“ the Ministry stated.

 

In the first 11 months of this year, total budget expenditures amounted to €2.72 billion or 33.5 percent of GDP.

 

“Current expenditures were executed at 90.3 percent of the plan, while capital expenditures amounted to €240.3 million, or 91.2 percent of the planned level, representing strong growth of 27 percent compared to the same period last year,” the Ministry stated, addin that this confirms the commitment to development and investment projects.