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NewsMontenegro, Trend of good revenue collection from 2022 continued this year

Montenegro, Trend of good revenue collection from 2022 continued this year

Budget revenues during the first two months of this year amounted to EUR 312 million or 5.1% of the estimated GDP and are higher by EUR 31.1 million or 11.1% compared to the planned, according to data from the Ministry of Finance. Compared to the comparative period in 2022, revenues are higher by EUR 79.6 million or 34.2%.

This department announced that the trend of good revenue collection from 2022 continued this year, and almost all expenditure categories were realized in an amount lower than planned.

The largest growth was recorded in other income and income based on value added tax.

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– Revenues based on VAT by the end of February were collected in the amount of EUR 140.8 million, which is EUR 16.7 million or 13.4% more than planned and EUR 36.4 million or 34.9% more in compared to the same period of the previous year – the press release states.

Other revenues amounted to EUR 36.6 million, which is EUR 33.7 million more than the previous year, as a result of the transfer of funds collected during the implementation of the economic citizenship project, which will be used to finance infrastructure projects planned by the capital budget.

– Contributions for mandatory social insurance were realized at the level of EUR 57.1 million, which is by EUR 7.6 million or 15.3% compared to the planned, i.e. EUR 10.4 million or 22.3% compared to the comparative period in 2022 . years. The better collection of the contribution category is the result of the effects of the implementation of the Law on the reprogramme of tax claims, but also the increased basis for the calculation of contributions due to the increase in coefficients for the wages of employees in the public sector – the Ministry explained.

On the other hand, they add, revenues from excise taxes are at the level of the plan for this period, while compared to the comparative period of the previous year, they are lower by 1.5 million or 4.0%.

– Budget revenues in February amounted to EUR 144.2 million, which is EUR 16.4 million or 12.8% more than planned and EUR 19.6 million or 15.7% more than the same month last year – it is stated in the announcement.
Budget expenditures for the period January-February 2023 amounted to 286.3 million EUR or 4.6% of the estimated GDP and compared to the planned they are lower by 84.1 million EUR or 22.7%, while compared to the same period last year lower by 6.5 million li 2.2%.

– In the structure of total consumption, current expenditures amounted to EUR 124.9 million, which is EUR 28 million or 18.3% less compared to the plan, while compared to the same period last year they are EUR 12.3 million or 11% higher – data show.

Capital expenditures were realized in the total amount of EUR 4.9 million, which is EUR 33.6 million or 87.3% less than planned, or EUR 22.8 million or 82.4% less than the previous year.

– Expenditures in February this year amounted to EUR 171.6 million and are lower by EUR 3.4 million or 12% compared to the plan, while compared to the same period last year they are higher by EUR 19.3 million or 12.7%.

– Bearing in mind the realization of income and expenditure, in the observed period a budget surplus was realized in the amount of EUR 25.8 million. The budget deficit in February amounted to EUR 27.3 million – the Ministries conclude.

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