November 9 (SeeNews) - Montenegro reported a budget deficit of 64.7 million euro ($74.9 million) in the first nine months of 2021, compared to a deficit of 332.9 million euro in the like period of 2020, official figures show.
The deficit accounted for 1.4% of the estimated gross domestic product (GDP) for 2021, 62.7% below the plan, the finance ministry said in a statement published on its website.
"Good collection of revenues largely compensated for the effects of non-adoption of amendments to the law that were a precondition for the implementation of measures aimed at generating new sources of revenue planned by the Budget Law for 2021. Also, lower than planned expenditures significantly contributed to the surplus," the finance ministry said.
Primary budget surplus totalled 14.1 million euro, versus a 255.2 million euro primary budget deficit in the first nine months of 2020, according to data published on the website of the finance ministry.
Total budget revenues rose by a real 15.3% on the year to 1.345 billion euro in the period under review, while expenditure decreased 6.0% to 1.409 billion euro.
Tax revenues went up by a real 19.1% to 861.3 million euro, contributions grew 4.6% to 376.3 million euro, and fees increased to 9.3 million euro from 7.4 million euro.
On the expenditure side, current expenditure edged up to 611.5 million euro from 611.4 million euro, while capital expenditure went down to 107.8 million euro from 148.8 million euro in the first nine months of 2020.
($ = 0.8638 euro)