VIDEO: Government formulated a draft budget revision; Lazovic: We will borrow less

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Montenegrin Government adopted the Draft Law on Amendments to the Law on 2016 Budget without holding a cabinet meeting.

According to the statement, this was done “on the basis of the consent obtained from the majority of government members, in accordance with Article 10 of the Regulation on the Government of Montenegro”.

Interior Minister Goran Danilovic singled out his opinion.

The proposed revision is projected at €2,031,000,000, which is €100m less than in the current Law on Budget for 2016. The discussed materials and the government commissions’ conclusions will be published tomorrow morning.

Commission for Economic Policy and Financial System and the Commission for Political System, Internal and Foreign Policy of the Government of Montenegro discussed the draft law on amendments to the Law on 2016 Budget of Montenegro by the Ministry of Finance. At a joint session, they adopted the conclusion to propose establishing the draft law to the government.

Deputy Prime Minister Vujica Lazovic said that the commissions unanimously adopted the decision and that the government would decide to send the proposal to the Parliament. Asked why the government revises the budget in November, Lazovic said that this was timely and correct decision.

“Since we revise the budget now, we will have higher revenues compared to the proposal from July, lower expenditures, lower public debt, we will have less borrowing by about €30m compared to previously anticipated amount. Featured revenues will be €26m higher, whereas expenditures would be €119m lower”, Lazovic said.

The deputy prime minister clearly states – poor projecting expenditures for allowances for mothers with three or more children is one of the reasons for the budget revision, adding that additional €56m should be ensured for that purpose.

Projections show that the costs on this basis amounts €70m annually with the tendency to grow in the future.

Therefore, in this way the government will ensure the normal functioning of the system in terms of paying pensions, social benefits and public sector salaries.

Source: Cafe Del Montenegro