PODGORICA (Montenegro), June 8 (SeeNews) – Montenegro reported a budget deficit of 142 million euro ($173 million) in the first four months of 2021, compared to a deficit of 122.6 million euro in 2020, official figures show.
The deficit accounted for 3.1% of the estimated gross domestic product (GDP) for 2021, 31% below the plan, the finance ministry said in a statement published on its website.
"The endangered liquidity of the economy as a result of limited economic activity in the conditions of the pandemic, as well as the need for additional financing caused bythe implementation of a package of measures to support the economy and citizens, have led to the largest budget deficit since independence," the finance ministry said.
Primary budget deficit totalled 94.9 million euro, versus a 63 million euro primary budget deficit in the first four months of 2020, according to data published on the website of the finance ministry.
Total budget revenues fell by a real 1.7% on the year to 491.8 million euro in the period under review, while expenditure increased 1.5% to 633.9 million euro.
Tax revenues went down by a real 3.3% to 321.3 million euro, contributions went up 4.9% to 143.8 million euro, and taxes increased to 2.9 million euro from 2.7 million euro.
On the expenditure side, current expenditure declined by a real 2.1% to 279.6 million euro, while capital expenditure went down to 41.8 million euro from 44 million euro in the first four months of 2020.
($ = 0.821458 euro)