The real growth of gross domestic product (GDP) last year amounted to 6.1% and was realized in the nominal amount of EUR 5.79 billion, it was announced after yesterday’s Government session at which the Bill on the final account of the budget of Montenegro for 2022 was adopted a year.
During the session, it was pointed out that, after the strong growth of economic activity of 13% in 2021, dynamic economic trends in Montenegro continued in 2022, despite the negative effects of the war crisis in Ukraine.
– Accelerated and strong demand, greater tax discipline and the application of electronic fiscalization supported strong economic growth and favorable macroeconomic trends, and according to the preliminary data of the Directorate of Statistics, real GDP growth of 6.1% was recorded in 2022, while the gross social product was realized in the nominal amount of EUR 5.79 billion – it was announced.
As stated by the Government, according to the Budget Law for 2022, the funds provided for the financing of public spending amounted to EUR 2.50 billion, which was at the level of the plan for 2021.
– With the amendments to the Law on the Budget for 2022, the planned funds were increased to EUR 2.69 billion, i.e. by EUR 169 million or 7.48%. The plan was implemented in the amount of EUR 2.59 billion, or 96.32%. Funds in the amount of EUR 1.09 billion have been earmarked for the financing of current budget expenditures, and the plan was corrected to EUR 1.17 billion by budget rebalancing, as well as decisions on the redirection of funds – it was clarified.
They further state that EUR 1.21 billion or 4.19% more than planned was realized. Exceeding the plan, they add, is in accordance with the provisions of the Law on the Budget for 2022.
– The total public debt of Montenegro, as of December 31st, 2022, amounts to EUR 4.1 billion, i.e. 70.77% of GDP. Taking into account the deposits of the Ministry of Finance, including 38,477 ounces of gold, which, at the end of 2022, amounted to EUR 111.75 million, the net public debt of Montenegro on the same day amounts to EUR 3.99 billion, i.e. 68.84 % of GDP – reads the announcement.
Among other things, it was emphasized that the state of public debt in the last three years is characterized by a decrease in absolute amount, which was mostly influenced by the fact that there were no major credit debts in 2021 and 2022.
– Namely, compared to 2020, in 2021, the public debt was reduced by EUR 246.16 million, while in 2022, compared to 2021, it was reduced by EUR 60.58 million – the Government concluded.
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