MORE MONEY IN THE BUDGET, MORE INVESTMENT IN DEVELOPMENT: CURRENT EXPENDITURE SURPLUS OF €154.3 MILLION, CAPITAL INVESTMENT UP BY ALMOST 50%

An increase in budget revenues of €216.8 million, revenue collection exceeding the plan, strong growth in capital investment, and a current expenditure surplus of €154.3 million marked budget execution in the first nine months of 2026. This means that regular budget revenues exceeded current expenditures, providing a basis for financing development priorities and implementing capital investments without jeopardizing the state’s regular fulfillment of its obligations. Execution reached 106.6% of the plan, while €209.3 million was allocated to the Capital Budget within this category. These results show that, alongside responsible public finance management and the financing of regular obligations, the state’s investment activity is intensifying. Capital expenditure execution was almost 50% higher than the previous year, confirming the budget’s stronger focus on infrastructure development and projects that create long-term value for citizens and the economy. Total budget expenditures during the period under review amounted to €2,442.7 million, or 28.4% of estimated GDP, and were 0.4% below the planned level. Despite the increase in total expenditures compared with the previous year, the budget deficit for January–September amounted to €124.2 million, or 1.4% of estimated GDP, which was €56.9 million, or 31.4%, lower than planned. A current expenditure surplus of €154.3 million, a 48.4% increase in capital investment, and a deficit significantly below plan are important indicators of fiscal stability and provide a foundation for continuing the investment cycle and sustainable economic development in Montenegro.