Montenegro recorded a budget deficit of €97.2 million in the first seven months of 2025, equivalent to just 1.2% of GDP, according to the Ministry of Finance—€31.2 million better than planned.
The government achieved a current expenditure surplus of €33.5 million, reflecting disciplined and sustainable public spending. Total budget revenues reached €1.58 billion, slightly higher than the same period last year. In July alone, revenues totaled €256.1 million, exceeding the plan by 4.8%, resulting in a monthly budget surplus of €13.5 million, significantly better than the planned deficit of €12.1 million.
Key revenue growth was seen in corporate income tax (€215.9 million, up 9.3% year-on-year), personal income tax (€56.5 million, up 23.1% YoY), VAT (€738.1 million, up 12.6% YoY), and excise duties (€214.3 million, up 9.9% YoY). Other revenues totaled €30.3 million, 68.2% above plan.
Capital expenditures reached €130.7 million, a 31.1% increase compared to last year, supporting developmental investments. Transfers for social protection rose 11.3%, with focus on employer subsidies for hiring persons with disabilities and digitalization of public administration.
Contributions totaled €219 million, below both last year and plan, due to structural adjustments and one-time changes in pension contributions.
The Ministry emphasized that these results confirm responsible budget management, a strong fiscal position, and a credible framework for maintaining macroeconomic stability while supporting investment and social protection.
