NewsMontenegro's capital budget execution surges in 2024: Council highlights infrastructure progress

Montenegro’s capital budget execution surges in 2024: Council highlights infrastructure progress

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The execution of the capital budget for the first five months of the current year has nearly doubled compared to the same period last year, amounting to approximately 26 million EUR, as assessed during the session of the Council for Public Investments.

According to the announcement, taking into account the government’s efforts, particularly in securing grants and favorable loan arrangements with the European Bank for Reconstruction and Development (EBRD) through support from the European Commission for the construction of the second section of the highway from Mateševo to Andrijevica, there will be no withdrawal of the planned 50 million EUR for the Bar-Boljare highway by the end of this year. These funds were designated for advance payments in case of contract signing with the contractor.

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  • The unused funds from the ongoing highway construction project will be redirected to projects progressing at a faster pace, as proposed by the Ministry of Finance, stated the announcement.

Regarding the intensive activities conducted by Monteput in creating conceptual designs for highways and expressways, it was noted that tenders have been issued for the creation of conceptual designs for an additional three highway sections and three expressways.

  • Currently, project tasks are being prepared for four crucial transportation projects, which will finalize the project documentation for 260 kilometers of highways and 200 kilometers of expressways, added the statement.

The Council also emphasized the need for the government to make additional efforts in securing funding sources and necessary funds to complete ongoing projects and initiate new ones for which technical documentation is ready and public calls for selecting the most favorable contractor have been issued.

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Chaired by Prime Minister Milojko Spajić, the Council’s session also covered discussions on the Proposal of Capital Projects for the reallocation of unused funds from this year’s capital budget, proposals for increasing overall estimated values of capital projects, progress reports on infrastructure projects including highways and expressways, as well as updates on disputes related to project implementation.

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