January 3 (SeeNews) - Montenegro's parliament said it has approved the 2024 state budget which projects a fiscal deficit equivalent to 3.1% of the expected gross domestic product (GDP).
The budget plan was endorsed in a 46-18 vote in the 81-seat assembly, according to a video of the session published on the parliament's website last week.
The budget targets revenues of 2.717 billion euro ($2.978 billion), a 12.2% increase compared with the projected 2023 level. Expenditure is forecast at 2.952 billion euro, up 11.9% from 2023.
Montenegro’s economy is expected to expand by 3.8% in 2024.
In 2022, the country's budget was in deficit of 275 million euro, equivalent to 5.1% of GDP.
$ = 0.9127 euro