October 10 (SeeNews) - Montenegro budget was in deficit of 57.8 million euro ($56.05 million) in the first seven months of 2022, compared to a budget gap of 119.3 million euro in the like period of 2021, the finance ministry said.
The deficit was equivalent to 1.1% of the estimated gross domestic product (GDP) for 2022, the finance ministry said in a statement published on its website.
Montenegro recorded a primary budget surplus of 15 million euro, versus a 55.7 million euro primary budget deficit in the first seven months of 2021, the finance ministry said.
Total budget revenues rose by a real 10.8% on the year to 1.09 billion euro in the period under review, while expenditure rose 4% to 1.15 billion euro.
Tax revenues went up by a real 26.8% to 780.9 million euro, contributions declined 18.9% to 229.3 million euro, and fees increased to 7.2 million euro from 6.4 million euro.
On the expenditure side, current expenditure fell to 467.6 million euro from 478.2 million euro, while capital expenditure went up to 128.4 million euro from 75.7 million euro in the first seven months of 2021.
($ = 1.03134 euro)