December 8 (SeeNews) - Montenegro's finance minister Darko Radunovic has said the government expects to close the year with a budget deficit equivalent to 3.7% of the estimated gross domestic product (GDP).
The budget revenues in 2017 are expected to exceed plan by 30 million euro ($35.3 million), rising by 90 million euro above last year's level, while expenses will be 50 million euro lower on an annual basis, Radunovic said in a statement on Thursday.
"In the first eleven months of 2017, the budget revenues of Montenegro were higher by 64 million euro on the year," Radunovic said.
In vuew of the positive budget results, the government plans to propose to the parliament to extend an additional 7.2 million euro financing to the ministry of transport and 1 million euro to the ministry of economy, the finance ministry said in the statement.
Out of the additional financing to be provided to the transport ministry, a 1.9 million euro subsidy will be granted to the state-controlled rail transport operator Zeljeznicki Prevoz Crne Gore (ZPCG), the ministry added.
In 2016, the country's primary budget deficit decreased 75.2% year-on-year to 48.1 million euro.
($ = 0.851053 euro)