Capital Investments Grow, Budget Revenues Above Plan – Confirmed Stability of Public Finances and Development Momentum of Montenegro

In 2023, budget revenues continued to grow above plan, while responsible management of public finances enabled the preservation of fiscal stability and a strong investment cycle. Budget revenues reached 1.187 billion euros, representing an increase of 90 million euros or 8.2% compared to the same period last year, and 24.4 million euros above plan. These results confirm ongoing strong economic trends, growth in economic activity, employment, and wages, as well as improved tax discipline. At the same time, the state is intensifying developmental investments. In May alone, 27.5 million euros were invested in capital projects, exceeding planned levels and confirming accelerated implementation of development projects. On the revenue side, excellent results were achieved across all key tax categories. Value-added tax revenues reached 512 million euros, 24.8 million euros or 5.1% higher than last year, confirming strong personal consumption and economic activity. Contributions amounted to 178.1 million euros, an increase of 28.2 million euros or 18.8%, representing the strongest growth among key revenue categories and confirming continuous growth in employment and wages. Corporate profit tax revenues increased by 8 million euros or 4%, reaching 207.8 million euros, while excise revenues rose by 7.5 million euros or 5.5%, totaling 143.4 million euros, despite temporary reductions in fuel excise taxes.