The Montenegro Stock Exchange experienced a downturn in both indices and trading volume this week, coinciding with the announcement of a budget surplus of €30.4 million for the first six months of the year, representing 0.4% of the estimated GDP.
The MNSE10 index, reflecting the value of the top ten companies on the exchange, slightly declined to 993.19 points, while the MONEX index fell to 15,092.01 points. Trading volume amounted to €23,650, which was 30 times lower than the previous week.
Shares of Elektroprivreda dropped slightly to €5.25, and Port of Adria also saw a minor decrease to €0.1441. The stock prices of Veleprodaja, Crnogorski Telekom, and Crnogorski elektroprenosni sistem remained unchanged from the previous week at €25, €2.15, and €1.33 respectively.
Other traded stocks included Industriaimport-Industriaimpex and TPC “Ražnatović”, priced at €8.20 and €12.78 respectively.
On Thursday, the Ministry of Finance announced a budget surplus of €30.4 million for the first half of the year, compared to a projected deficit of €153.4 million. This surplus is €83.9 million better than planned. In June, despite a projected deficit, the budget recorded a surplus of €0.5 million.
According to the Ministry, state revenues for the first half of the year totaled €75.4 million, exceeding the plan by 6.1% and showing an increase of €72.7 million compared to the same period last year.
Earlier this week, Prime Minister Milojko Spajić was subject to a parliamentary hearing, where he announced that Montenegro would make a significant civilizational leap in October with the “Europe Now 2” program, expected to benefit 300,000 employees. The program aims to raise the minimum wage to €600 for high school graduates and €800 for university graduates, while reducing the tax burden on labor to enhance business competitiveness.
Spajić also emphasized the importance of the third section of the highway from Andrijevica to Boljare, for which the selection of a designer for the conceptual project has begun. The project’s estimated value is around €880 million. He noted that optimal collaboration with Serbia is planned to ensure efficient construction.
On Thursday, the government approved a payment of $4.27 million to the Chinese Exim Bank, covering obligations of $2.44 million related to the Montenegrin Shipping Company and $1.83 million related to the Bar Shipping Company. The payment was approved due to the companies’ inability to meet their debt repayment plans.
At the beginning of the week, it was reported that six companies on the Montenegro Stock Exchange declared dividends for the previous year, compared to four for 2022. These companies include Jugopetrol, Crnogorski Telekom, Luka Kotor, Crnogorski elektroprenosni sistem, Poslovno-logistički centar Morača, and Građevinski nadzor i laboratorijska ispitivanja. Jugopetrol, Crnogorski Telekom, and CGES have maintained a consistent dividend payout for two consecutive years.
