The budget deficit of Montenegro reached EUR 81.55mn in Jan-Nov 2011, or 2.5% of the projected GDP for the year, the finance ministry reported. Provided that the government has not made extraordinary expenses in the last month of the year, the targets deficit of 2.6% of GDP in 2011 should be achieved. Total revenues stood at EUR 1,005.9mn, which is just 0.9% y/y lower compared to the same period last year. Budget revenues lag behind the plan by 3.07%. The government posted improved collection of corporate tax, VAT and excise tax - by 74.7% y/y, 6% y/y and 8.8% y/y, respectively. All of the revenue accounts, however, recorded lower than planned proceeds. Total expenditures for the eleven months of the year rose by 3.4% y/y, mainly as a result of higher payments for wages (up by 30.1% y/y). Expenditure for social benefits also picked up by 7.8% y/y, exceeding the plan by 2.7%. In November alone, the budget balance was a deficit of EUR 18.4mn as compared to revised EUR 0.2mn surplus in October. |
Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more
Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more