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Sep 13, 2007 19:05 EEST
September 13 (SeeNews) - Montenegro’s government on Thursday decided to raise spending by some 130 million euro under the 2007 budget bill to accomodate higher-than-planned revenue, while keeping its surplus target unchanged at some 30 million euro ($42 million), Finance Minister Igor Luksic said.
"The government decided to increase the revenue target to 750 million euro, including some 10 million euro loan from the World Bank,” Luksic told a news conference following a regular cabinet meeting. The previous revenue target had been set at some 619 million euro.
The cabinet will increase spending to 714 million euro from 583 million euro, mainly to finance a wage hike, Luksic said but did not elaborate.
The revised budget bill will be now sent to parliament for approval.
Montenegro reported a 74.5 million euro budget surplus for the first seven months of the year.
($ = 0.7204 euro)
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