In July, the government had 134,2 million euros in income, while in the same month it spent 190,2 million euros, i.e. in that month alone, a deficit of 56 million euros was realized, according to data from the Central Bank on the state of state finances in that month.
The missing amount of money in July was secured by spending deposits from the state's previous indebtedness, as well as from new indebtedness.
In July last year, the state budget had an income of 174 million euros, 40 million more than now, which is a drop of 23 percent.
By rebalancing the budget from June this year, the Government expected worse economic results as a result of the corona virus epidemic, so it predicted revenues in July in the amount of 149,7 million euros, but they were lower by another 15,5 million euros.
From the value added tax in July, 43,4 million euros poured into the state coffers, while the government expected to receive 60,3 million euros from this tax.
Last year in July, VAT collection was worth 71,6 million euros. Compared to the same month last year, VAT revenue fell by 40 percent.
In July, the budget received 18,7 million euros from excise taxes, the plan was to collect 21,7 million, while last year this income was worth 24,6 million euros.
Contributions for pension and health insurance increased compared to the plan, but this income is also lower than in July last year. 14,7 million euros were collected from health insurance contributions, while the plan was 13,8 million, and in July last year, 17,2 million euros were collected from this duty. Instead of the planned 23,9 million euros from pension insurance contributions, 27,9 million euros were collected, while in the same month last year this item was worth 29 million euros.
Ten million euros were collected from personal income tax, one million less than in July last year, while the plan was 9,2 million euros.
The distribution of wage subsidies in vulnerable industries was conditioned by the payment of debt for taxes and wage contributions, which influenced the increase in the collection of these duties despite the decrease in the number of workers by about 35 thousand compared to July last year.
Instead of the planned 2,3 million, 5,5 million were collected from corporate income tax, which is 1,6 million euros more than in the same month last year.
By rebalancing the budget, the government planned to have expenditures of 174,9 million euros in July, and it spent 190,2 million, that is, 15,3 million more.
The executive branch saved on gross earnings and employer contributions because instead of the planned 41,8 million, it spent one million less, as well as on transfers for social protection, where it spent 49,9 million euros instead of a possible 46,5 million euros. Instead of the planned subsidy cost of 4,2 million euros, only 1,9 million was distributed. Expenditures for current maintenance were reduced from 2,6 to 2,2 million euros. The cost for other expenses was reduced from 13,2 to 10,3 million euros.
In July, the month of the start of the pre-election campaign, the government spared no expense on the item "transfers to institutions, individuals, non-governmental organizations and the public sector", where instead of the planned 19,3 million euros, 35,7 million euros were spent. This amount is ten million euros higher than in the same month last year.
Expenditures for services cost six million instead of the planned 4,5 million, material expenditures amounted to 3,6 instead of 3,3 million euros, other current expenses 5,6 million euros instead of 4,6 million euros...
Fidelity: By the end of the year, 158 million euros of old debts should be returned
The consulting company "Fidelity consulting" announced yesterday that the future government faces major obligations, as 158 million euros in debts to domestic and foreign creditors must be returned by the end of the year.
"If someone told the IMF not to burden us with thousands of tables and millions of data, they would be really grateful because we can't sleep with numbers these days. Until that happens, we will have to inform you about various things from these excel files. By the end of the year, Montenegro must pay 158.362.264 euros to domestic and foreign creditors based on the maturity of loans, government bonds and interest. Of that amount, EUR 28.589.085 refers to interest, while the amount of EUR 129.773.178 refers to principal. The largest part of this interest and debt is due in November – EUR 93.763.546. But, where are you going for Nova?", states "Fidelity consulting" on its Facebook page.
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