The budget for the next year represents a realistic and sustainable framework that will enable the preservation of the standard of living of citizens, the achievement of sustainable economic growth and the provision of orderly, sustainable and timely financing of all obligations, the Government announced.
The Government said that at today's session they determined the Draft Law on the budget of Montenegro for the next year.
"In the discussion, it was emphasized that the Budget for the next year is projected at 2,852 billion euros and represents a realistic and sustainable framework that will enable the preservation of the living standards of citizens, the achievement of sustainable economic growth and the provision of orderly, sustainable and timely financing of all obligations," the statement said. .
Related Articles
As it was added, the budget was planned cautiously and responsibly, taking into account all challenges on the internal, but also on the geopolitical level.
The Government said that the planned budget expenditures are 2,852 billion euros and that, compared to the previous year, they are higher by 165,62 million euros or 6,2 percent.
"One of the key features of the budget is the planned transfers for social protection of 785 million euros, i.e. 34 percent of total budget expenditures, which represents a historical maximum," said the Government.
They stated that additional funds of 45 million euros were planned for the needs of rights in the field of social protection, mainly for child allowances of 23,01 million euros and other rights in the field of social protection of 13,61 million euros.
The Government said that seven million euros are intended for allowances for newborn children.
As they said, additional funds of 35 million euros are planned for the increase of pensions, according to regular adjustment and the expected movement of the number of pensioners.
"The plan is that, by the end of next year, the minimum pension will reach the level of 60 percent of the minimum wage," announced the Government.
They stated that, due to the need to reduce inflationary pressures on the standard of living of employees in the public sector, a salary increase in the total amount of 67 million euros is planned.
As announced, the healthcare sector has a significant share in the level of public spending and accounts for 402 million euros, or 14 percent of total public spending.
The Government said that, compared to this year, the allocations are nominally at the same level.
"However, the available funds have actually increased, bearing in mind that the budget rebalancing in September allocated additional funds of 65 million euros to the Health Fund, which were mainly related to the repayment of accumulated debts of the Fund, i.e. public health institutions", added the Government.
They stated that within the mentioned amount, additional funds of four million euros were allocated for the construction and reconstruction of healthcare facilities.
In addition to the above, the Budget Law creates the assumptions of providing additional funds for the financing of the Project of construction and reconstruction and equipping of health institutions in Montenegro of an additional 55 million euros.
The sector of agriculture, forestry and water management has been allocated a total of 63 million euros, which represents an increase of six million euros compared to this year, and this is mainly related to the increase in subsidies.
In addition to the above, within the current budget reserve, additional funds of 6,5 million euros are available for that sector, of which five million euros are for the purposes of introducing new agricultural areas into the registers, as well as 1,5 million euros of additional funds for market price measures. policies.
"In the discussion, as one of the key features of the budget, it was emphasized that the allocation of two percent of GDP for the needs of defense development was achieved for the first time, which represents the best confirmation of the Euro-Atlantic commitment of this Government," the statement said.
It is stated that the capital budget, as a key development component, amounts to EUR 202,6 million, which if we exclude the funds allocated in the current year for the realization of the project of the priority section of the highway, represents an increase of EUR 35 million for other projects.
The Government explained that these funds were earmarked for the implementation of 294 capital projects.
Taking into account the projected revenues in the coming year, as well as the planned expenditures, it is expected to achieve a budget deficit in the amount of 5,9 percent of GDP, or 366 million euros.
"Since the planned repayment of the debt in the next year amounts to 338 million euros, it is expected that the missing funds for the next year will amount to 705 million euros," said the Government.
It is stated that the Government has determined the Proposal for the decision on the borrowing of Montenegro for the next year.
As explained, the Decision provides that the state will use deposits and funds from existing credit arrangements concluded in an earlier period, as well as funds from new debt, to finance the missing funds.
"In the next year, the state can borrow up to 600 million euros for the purposes of providing the missing funds and creating a fiscal reserve, which will depend on the fiscal reserve that will be provided in the current year," the Government announced.
See more:
Download the app and follow the news
FOLLOW US ON
