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Press realese: Montenegro Budget execution in the period January-June 2018 (GDDS table 06)

Published date: 01.08.2018 12:28 | 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 763,8 mill.€ in January-June, according to the preliminary data, and compared to the same period last year they are higher by 81,8 mill.€ or 12,0% and compared to the plan by 4,6 mill.€ or 0,6%.

All of the main categories of tax revenues are higher compared to the same period last year. Collection of Corporate Income Tax was higher by 26,6%, Value Tax Added by 14,3%, Personal Income Tax by 8,4%, and Excises by 0,9%. Also, contributions are increased by 7,6% compared to the same period last year and 1,7% compared to the plan.

In the same period non-tax revenues increased, so fees are higher by 41,9%, duties by 22,5%, and other revenues by 5,8%. Also, donations are doubled.

Budget expenditures in the period January-June 2018 amounted to 849,0 mill.€ or 19,2% of GDP which is higher by 61,9 mill.€ or 7,9% compared to the same period of 2017. The increase in expenditures is a result of higher realization of capital budget compared to the same period of the previous year.

Compared to the plan budget expenditures are lower by 35,8 mill. € or 4,0%, where current expenditures in observed period are 1,8% above the plan, while the capital budget is lower by 49,7 mill. € compared to the plan, which will be replaced in the next months due to expected intensification of works.

In the structure of current expenditures, positive deviations were recorded at Expenditures for services in the amount of 8,6 mill. € and Gross wages in the amount of 8,3 mill. €.

In the gross wage section, the increased allocation is the result of the identified lack of funds on this basis for certain consumer units.

In the period January-June of the following year budget deficit was 85,2 mill. € or 1,9% of estimated GDP, and in June budget deficit was 21,4 mill.€ or 0,5% of estimated GDP.