Montenegro's budget revenues up 11% y/y in Jan-Feb 2013.

By bne IntelliNews March 5, 2013
Montenegro's budget revenues increased by 11.1% to EUR 129.4mn in the first two months of the year mainly due to higher VAT proceeds, the finance ministry said in a statement. Revenues from VAT rose by 17% y/y to EUR 50mn, exceeding by over 11% the plan for the year, the statement read. Direct tax revenues, including income tax proceeds and social contributions, also increased by 14% y/y to EUR 48.8mn. The ministry said that the improvement in budget revenues reflects an increase in economic activity as well as the positive impact of the government's measures to combat the shadow economy. The statement gave no figures on the Jan-Feb budget expenditures and budget balance. In 2013, the government targets a budget deficit of EUR 95.3mn or 2.73% of the projected GDP.

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

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 reports increased budget revenue in Q1.

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 drops to 155.5% in Feb 2013.

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

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335