Montenegro's government expects budget gap to narrow to 1.4% of GDP in 2013.

By bne IntelliNews May 8, 2012
In its latest macroeconomic projection, Montenegro's government expects the budget gap to narrow to 1.4% of GDP in 2013 and 0.5% in 2015. In 2012, the deficit will reach 2.5% of GDP, up from 1.05% of GDP in the previous projection. Budget revenues are expected to reach EUR 1,282.23mn in 2012 or 37.66% of the projected year-end GDP. In the medium term, they will grow to EUR 1,190.9mn in 2013 and EUR 1,321.9mn in 2015. Public revenues growth should mirror GDP growth and this will be accomplished through reducing grey economy and improving tax collection. Public spending will amount to EUR 1,361.94mn this year or 40% of GDP. The government sees expenditures falling to 38.9% of GDP in 2013 and 36% of GDP in 2015. Public debt is projected to fall to 46% of GDP in 2015 from 50.1% of GDP expected in 2012. The government expects sluggish growth of 0.5% in 2012 according to the baseline scenario. Economic growth will accelerate to 1.5% in 2013 and further to 3.5% and 4% in 2014 and 2015, respectively. I
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