Montenegro, The budget surplus in January was EUR 53 million

Published on 3. March 2023., News

The budget surplus in January was EUR 53 million, or 0.9% of GDP, the Ministry of Finance announced.

According to the data of this department, budget revenues in January amounted to EUR 167.8 million or 2.7% of the estimated GDP. Compared to the planned, realized revenues are higher by EUR 14.7 million or 9.6%, while compared to the comparable period of the previous year they are higher by EUR 59.9 million or 55.6%.

– The increase in income in the observed period is the result of the increase in income from value added tax, which was realized in the amount of EUR 79.8 million and compared to January of last year, it is higher by EUR 29.5 million or 58.8%. Compared to the planned level, revenues from value added tax are higher by 14.8 million or 22.8%, which is a continuation of the trends from 2022 – the Ministry of Finance stated.

As they stated, excise tax revenues were collected in the amount of EUR 17.5 million, which is EUR 1.5 million less than planned.

– Compared to the previous year, excise taxes recorded a decrease of EUR 3.6 million, as a result of the application of the decision to reduce the amount of excise duty on the sale of unleaded gasoline and gas oils – they clarified.

Revenues from contributions were collected in the amount of EUR 15.6 million, which is EUR 1.6 million more than the plan, or EUR 3.9 million more than in January 2022.

– Compared to the previous year, the biggest growth was recorded in other incomes, which is the result of a one-time payment of income based on the implementation of the economic citizenship project – added the finance department.

Budget expenditures in January amounted to EUR 114.7 million or 1.9% of the estimated GDP and compared to the planned, they were lower by EUR 60.8 million or 34.6%. Compared to the observed period of the previous year, expenditures are lower by EUR 25.8 million, or 18.4%.

– In the structure of total consumption, current expenditures in January amounted to EUR 53.3 million, which is EUR 18.6 million or 25.8% less than planned, while capital expenditures amounted to EUR 0.4 million. Compared to the same period of the previous year, the total expenditures are lower primarily as a result of lower realization in the part of capital expenditures and repayment of obligations from the previous period – the announcement concludes.