In the first seven months of 2024, Montenegro achieved a budget surplus of €42 million, thanks to strict expenditure management and an 18.2% increase in revenues compared to the previous year, the Ministry of Finance reported.
The surplus for July alone was approximately €11 million. For the January-July period, total budget revenues amounted to €1.569 billion, marking an increase of €124.7 million from the same period in 2023 and €95.5 million above the planned revenue.
Excluding one-time revenues, the budget revenues were €237.2 million higher than in 2023, reflecting an 18.2% increase.
Key revenue increases during the January-July period include:
- Corporate income tax, which totaled €197.6 million, up by €51.8 million or 35.6% compared to the plan, and €61.8 million or 45.6% higher than in 2023.
- Personal income tax, reaching €45.9 million, up by €7.6 million or 19.9% above the plan, and €14.4 million or 45.8% more than in 2023.
- Value-added tax (VAT), which was €655.4 million, up by €13.8 million or 2.2% above the plan, and €87.1 million or 15.3% higher than the previous year.
- Social contributions, amounting to €321 million, up by €16.2 million or 5.3% above the plan, and €31.2 million or 10.8% more than in 2023.
In July, the budget revenues totaled €259.9 million, representing a €52 million increase compared to the same month last year and €20.1 million more than the planned revenue for July.
Preliminary data indicates that budget expenditures for January-July 2024 were €1.527 billion, about 93% of the planned amount, and €232 million higher than the same period in the previous year. The largest increases in expenditures compared to 2023 were noted in areas such as gross salaries, social protection transfers, transfers to institutions, non-governmental organizations, and capital investments.
