Decision on budget revision not made because of Finance Ministry

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The government has not decided on budget revision yet because the Ministry of Finance has not submitted material that should to be discussed at cabinet meeting, the government stated.

“The joint session of the commissions for Economic Policy and Financial System and the Commission for Political System of the Government of Montenegro, which should discuss the Draft Law on Amendments to the Law on Budget for 2016, will be held as soon as the Finance Ministry prepares and submits relevant material, in line with the working conclusion adopted at 177th cabinet meeting on 3 November 2016”, the government said in the statement.

During the day, the government decided to issue government bonds without holding a meeting, on the basis of consent obtained from the majority of cabinet members. Thus the state has borrowed €100m at 4% interest.

Source: Cafe Del Montenegro