PODGORICA (Montenegro), November 15 (SeeNews) – Montenegro's government said it has adopted the 2018 budget draft envisaging a deficit of 116.2 million euro ($137.6 million), equivalent to 2.64% of the gross domestic product (GDP) projected for next year.
The government plans to borrow 295 million euro next year, of which 105 million euro will be used to repay old debt, and 190 million euro will represent financing from Export-Import Bank of China (EXIM Bank) for the construction of the Bar-Boljare motorway, finance minister Darko Radunovic said, according to a statement issued by the government on Tuesday.
Capital expenditure is projected at 287.7 million euro in 2018, with 210 million euro to be invested in the construction of the Bar-Boljare motorway, Radunovic said.
Budget revenue is expected to rise by 9.9%, or by 153.6 million euro, he added.
In June, Radunovic said the government targets a budget surplus equivalent to 4.5% of gross domestic product (GDP) in 2020.
($ = 0.844333 euro)