Montenegro's gross public debt, according to data for the first quarter of this year, amounted to 5,13 billion euros, or 59,9 percent of gross domestic product (GDP), the Ministry of Finance (MoF) announced.
"Compared to the end of last year, gross public debt has been reduced by almost 55 million euros," the Ministry of Finance said in a statement.
The government department added that the state debt amounted to 5,11 billion euros or 59,6 percent of GDP.
"During the first quarter, the state regularly serviced all public debt obligations, while maintaining the stability of public finances. The debt structure is still dominated by liabilities denominated in euros and instruments with fixed interest rates, which contributes to reducing currency and interest rate risk," the Ministry of Finance said.
They said that this government department continues its policy of responsible public debt management, with the aim of preserving fiscal sustainability, stable financing of budget needs, and creating fiscal space for the implementation of the state's development and infrastructure priorities.
"In this context, public debt management policy remains focused on securing sources of financing under favorable conditions, while carefully managing the costs and risks of the government portfolio," the statement concluded.
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