Press realese: Montenegro Budget execution in the period January-November 2018 (GDDS table 11)

All of the main categories of tax revenues are higher compared to the same period last year. Collection of Corporate Income Tax was higher by 39,5%, Taxes on Sales of Property by 16,7%, Value Tax Added by 13,5%, Personal Income Tax by 8,7%, and contribution by 6,4% compared to the same period last year.

In the same period non-tax revenues increased, so fees are higher by 48,5% and duties by 22,7%. Also, donations are higher by 38,1%. In the part of non-tax revenues in particular, it should be noted that other revenues are almost two times higher than the same period of 2017.

Budget expenditures in the same period amounted to 1.644,1 mill.€ or 35,7% of estimated GDP of which is financed current budget expenditures in the amount of 1.447,5 mill.€ and capital budget in the amount of 196,5 mill.€. Compared to the plan budget expenditures are lower by 80,3 mill.€ or 4,7% which is primarily a result of lower capital budget which is lower by 25,1% than plan , but at the same time higher by 16,3% compared to the previous year whereby the realization of the funds planned in the part of the Capital Budget mostly determines the intensity of the works on the Priority section of the Highway. 

On the other side, Current budget spending has been achieved at a little higher level than planned, since the deviation of this category of consumption is 1,0% compared to the previously planned.

In the structure of current expenditures, main negative deviations are recorded at: Social security transfers in the amount of 17,8 mill.€ or 3,5% and Transfer to institutions, individuals, NGOs and the public sector in the amount of 12,5 mill.€ or 6,6%.

In the period January-November of the following year budget deficit was 82,6 mill. € or 1,8% of GDP  which is 45,8% lower than the same period of previous year, and in November budget deficit was 44,6 mill.€ or 1,0% of estimated GDP. In the period January-November primary budget surplus was 6,2 mill.€ or 0,1

Attachment: GDDS 11_montly data-f.xlsx