Montenegro’s Cabinet approves 2015 Budget Bill amounting to EUR 1.329 billion

    Podgorica, Montenegro (10 November 2014) — The Government of Montenegro approved at today’s session the Budget Bill for 2015 totaling EUR 1.329 billion.

    In 2015, the budget spending is estimated to amount to EUR 1.564 billion, Finance Minister Radoje Žugić told the press conference late this afternoon.

    The budget deficit is planned to be at the level of 29.7 million (not including expenditures for the construction of the highway’s priority part) or of EUR 235.7 million when including these expenditures.

    In that regard, it will be necessary to make loan arrangements worth EUR 633 million, of which 398.1 million will be used for debt repayments, EUR 206 million for the highway’s expenditures and EUR 29.7 million for covering the budget deficit, Minister Žugić explained.

    He added the 2015 capital budget in projected at the level of EUR 284.2 million.

    According to Finance Minister Žugić, sustainability of the public debt, which can be ensured only through more rapid and dynamic economic growth, takes the central stage of the Government’s fiscal policy.

    Thanks to primarily investments in capital projects, made by both the state and foreign investors, which will significantly affect the acceleration of economic activities, Montenegro’s economy is expected to experience faster growth in the period 2015-2018, Minister Žugić concluded.

    Source: Government of Montenegro