May 18 (SeeNews) - Montenegro’s government approved on Thursday a revision of the 2023 budget, lowering the planned deficit to 193 million euro ($208 million), equivalent to 3% of the planned gross domestic product (GDP), it said.
The original 2023 budget projected a deficit equivalent to 5.9% of GDP.
The budget revision reflects unplanned revenues from an EU support package to tackle the energy crisis and the need to provide financing for the early parliamentary elections in June, the government said in a press release.
Additional funding will be provided to subsidise the employment of persons with disabilities, the government also said.
Total revenue is expected to come in at 2.36 billion euro, 10% above the original target.
The revised budget bill is now pending approval by parliament.
Montenegro reported a budget surplus of 65.8 million euro for the quarter months of 2023.
In 2022, the country's budget was in deficit of 275 million euro, equivalent to 5.1% of GDP.
($ = 0.9276 euro)