As of August, Montenegro has reported a budget surplus of €93.7 million, significantly surpassing the conservatively planned deficit, resulting in an overall budget balance that is €232 million better than expected, according to the Ministry of Finance.
The Ministry indicated that positive fiscal trends persisted in August, with a budget surplus of €50.5 million for the month, which exceeded the plan by €10.5 million.
“Revenues for the first eight months totaled €1.82 billion, representing 25 percent of the estimated GDP. This is an increase of €137.7 million or 8.2 percent compared to the same period last year,” the statement noted.
It highlighted that revenues surpassed the January-August target by €79.9 million or 4.6 percent.
“Excluding one-off revenues, the budget’s income for this eight-month period is up by €266.7 million or 17.4 percent compared to last year,” the Ministry added.
The capital budget for the specified period amounted to €87.59 million, achieving 78.2 percent of the planned figure.
Transfers for social protection were reported at €656.96 million, reaching 98.1 percent of the plan, and showing an increase of €127.23 million or 24 percent compared to the same period last year.
The Ministry also noted a significant rise in corporate income tax, totaling €200.9 million, which is €51.5 million or 34.4 percent above the planned amount, and €61.8 million or 44.4 percent higher than last year’s figures.
Personal income tax revenues increased to €53.4 million, exceeding the plan by €7.9 million or 17.3 percent, and rising by €16 million or 42.6 percent compared to the previous year.
Contributions amounted to €375.5 million, which is €18.2 million or 5.1 percent higher than planned and €35.9 million or 10.6 percent higher than in the same period last year.
Value-added tax revenues reached €781.9 million, which is €13.4 million or 1.7 percent above the plan and €101.6 million or 14.9 percent higher than last year.
Excise revenues for the period totaled €238.3 million, exceeding the plan by €1.5 million or 0.6 percent, and up by €29.1 million or 13.9 percent compared to the previous year.
The Ministry reported that total expenditures were €1.73 billion, or 23.8 percent of the estimated GDP, an increase of €236.3 million or 15.8 percent compared to the same period last year.
The largest increase was noted in expenditures for pension and disability payments, largely due to the rise in minimum pensions, along with significant transfers to health institutions and increased allocations for gross salaries.
Current expenditures in the budget during this period were realized at €674.15 million, representing 92.7 percent of the plan.
The Ministry of Finance affirmed its commitment to fostering positive fiscal trends moving forward.
“We will maintain a responsible policy focused on optimizing public spending, rational planning, and careful management of public finances, exclusively supporting development projects that will lead to economic prosperity and a secure future for the citizens of Montenegro,” the Ministry concluded.
