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Press realese: Montenegro Budget execution in the period January-April 2018 (GDDS table 04)

Published date: 01.06.2018 12:42 | Author: Ministarstvo finansija

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Positive macroeconomic trends from the beginning of 2018 are also visible through collection of budget revenues, which are amounted to 484,2 mill.€ in January-April, according to the preliminary data, and compared to the same period last year it is higher by 61,7 mill.€ or 14,6% and compared to the plan by 9,3 mill.€ or 2,0%.

All categories of tax revenues are higher compared to the same period last year. Collection of Corporate Income Tax was higher by 25,0%, Value Tax Added by 16,4% and Personal Income Tax by 9,7%, while Excises were at the same last year level, but in April, for the first time this year they increased by 5,0%. Also, contributions are increased by 11,4% compared to the same period last year and 5,2% compared to the plan.

In the same period non-tax revenues increased, so duties are higher by 18,3%, fees by 25,4% and other revenues by 20,8%. Also, donations are doubled.

Budget expenditures in the same period were 544,5 mill.€ or 12,4% of estimated GDP, which is higher by 35,2 mill.€ or 6,9% compared to the same period 2017, mainly as result of higher spending from Capital budget (28,7 mill.€). In the same period interests were lower by 15,5 mill.€. Compared to the plan budget expenditures are lower by 41,8 mill.€ or 7,1%.

In the period January-April following year budget deficit was 60,4 mill.€ or 1,4% of estimated GDP, while in April budget surplus was 9,7 mill.€ or 0,2% of estimated GDP.

Copy of GDDS 04_montly data-eng.xlsx