Objective of the economic policy of the Government of Montenegro is to improve citizens’ standard and to bring GDP closer to the EU average, said Minister of Finance, Mr Darko Radunović, in the Parliament today.
The Government of Montenegro has adopted the Draft Law on Amendments to the Law on Budget for 2019, which stipulates a debt of €500 million.
Minister Radunović said that Government’s measures were aimed at strengthening fiscal stability and competitiveness of economy.
“Measures have produced favorable results which reflect in the improved position of Montenegro on financial markets, increase in source revenues and enhanced control of current expenses, while contributing to budgetary surplus in the amount of €152,8 million”, pointed out Mr Radunović.
He said that one of the reasons for amending budget was the need for creating legal prerequisites for re-financing existing debt and creating fiscal reserves.
The second reason is the Government’s decision to contribute to raising livings standard of the employees with lowest wages through increasing minimum wages, while simultaneously reducing tax burden with the reduction in contribution rate.
He added that annual revenues were expected to amount to €1,834 billion, i.e. 38,2% of GDP.
Mr Radunović says that the first half of the year is characterized by increase in the collection of budget revenues by around €21 million which is a result of the intensified economic activities and fight against informal economy.
