The proposal for this year's budget rebalancing refers primarily to technical harmonization with the new Regulation on the organization and mode of operation of the state administration, accelerating capital investments, as well as due to greater realization of the revenue side, the Ministry of Finance announced today.
The government department headed by Novica Vuković added that capital investments are being made at a much faster pace than planned - and in order to urgently improve the traffic infrastructure, it is mandatory to redistribute funds to projects with a faster pace than planned.
"On the other hand, continued strong economic growth during 2024 and a significant increase in income above the plan necessitated the revision of the estimates set by this year's Budget Law," the announcement reads.
The Ministry of Finance said that according to the revised projections proposed by the budget rebalancing, total revenues, compared to the initial Budget Law, are higher by approximately 56 million euros, while expenditures are at approximately the same level, and refer to inherited obligations for former employees. Radoja Dakić", funds for subsidies to business entities that employ persons with disabilities, salaries of employees in the education sector, as well as for the creation of assumptions for the formation of oil reserves.
"The planned level of the budget deficit in relation to the gross domestic product, due to the revised GDP projection (which increased from €7027,3 million to €7279,7 million), is lower by 0,09% of GDP and amounts to 3.26% of GDP", concludes the statement of the Ministry of Finance.
Yesterday, the Government approved the Proposal for the Law on Amendments to the Law on the Budget of Montenegro for this year.
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