Montenegro's budget deficit amounted to 1.19% of GDP

Montenegro's budget deficit for the first two months of 2020 amounted to 60 million euros or 1.19 percent of gross domestic product (GDP), the Ministry of Finance reports. The budget deficit is 13.3 million euros or 28.5 percent higher than in the same period last year, according to the document of the Ministry of Budget Execution for the first two months of this year. Budget revenues amounted to 214.1 million euros in January and February, or 4.26 percent of estimated GDP. Revenues were 1.4 million or 0.7 percent higher than planned. Excise revenues of 32.9 million euros showed the most significant year-on-year increase, an increase of 16.1 per cent, the result of a significant increase in tobacco excise collection.

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