Montenegro posts improved revenue collection in Aug.

By bne IntelliNews September 7, 2012
Budget revenues increased by 4.6% y/y to EUR 118mn in August, the finance ministry's press office informed. The improvement in revenue collection is a result of the ministry's active measures aimed at reducing the shadow economy, the statement informed. We note, however, that the increase in revenues in August has also a seasonal pattern related to the tourist season that brings higher tax revenues to the budget. The cumulative revenues for the first eight months of the year are at their projected levels, the ministry said. In H1, budget revenues were at 97.1% of the plan for the period.

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