June 28 (SeeNews) - Montenegro reported a budget deficit of 36.6 million euro ($38.7 million) in the first five months of 2022, compared to a deficit of 162.9 million euro in the like period of 2021, official figures show.
The deficit accounted for 0.7% of the estimated gross domestic product (GDP) for 2022, the finance ministry said in a statement published on its website.
Montenegro recorded a primary budget surplus of 1.2 million euro, versus a 109.1 million euro primary budget deficit in the first five months of 2021, the finance ministry said.
Total budget revenues rose by a real 19.7% on the year to 753.3 million euro in the period under review, while expenditure fell 0.3% to 789.9 million euro.
Tax revenues went up by a real 35.1% to 546.7 million euro, contributions declined 17.6% to 154.8 million euro, and fees increased to 4.3 million euro from 3.8 million euro.
On the expenditure side, current expenditure went down to 330.2 million euro from 347.7 million euro, while capital expenditure went up to 79.9 million euro from 50.6 million euro in the first five months of 2021.
($ = 0.945627 euro)