Montenegro’s 2025 budget proposal approved by economic committee

The proposal for the 2025 Budget Law was adopted at the second continuation of the 45th session of the Committee for Economy, Finance, and Budget.

At the session, which did not have opposition representatives present, the committee proposed that the Parliament adopt the draft budget. The proposal was supported by eight committee members.

The proposal for Montenegro’s borrowing plan for 2025 also received support during the session.

The draft Economic Reform Program was passed with the unanimous support of all those present.

Finance Minister Novica Vuković also attended the session and commented on the unsettling period of waiting for the budget’s adoption.

He stated that his ministry had made every effort to resolve this issue by the end of 2024.

“This is a moment in which the state should not be. This budget strengthens the standard of living for citizens, and that should not be denied to them,” Vuković said.

He also expressed concern about the messages circulating in recent days regarding the budget.

“By the logic that we temporarily financed in 2021, we might as well say that the budget is unnecessary. To comment on things like salaries and pensions, one must understand the analytics to know whether it can last for a month, two, three, or five,” Vuković explained. He further noted that if bond issuances had matured in January instead of April, he would have asked what would have happened to Montenegro.

“The borrowing process is halted, and servicing obligations is impossible. By using current revenues, we can service salaries and pensions until the debt payments become due, which happens in the first quarter,” he said.

Vuković also pointed out that during their mandate, the entire debt of Montenegro will mature.

He concluded by expressing confidence that there is no reason for the 2025 Budget Law not to be adopted at tomorrow’s Parliamentary session.