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Montenegro’s budget revenues for the first four months of 2025 reached €897.5 million, marking an increase of €4.2 million compared to the same period in 2024, according to the Ministry of Finance. In April alone, a surplus of €54.9 million was recorded—21.6% above the planned amount.
Key drivers of this growth include:
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- Corporate income tax: €191 million collected, up €11.8 million (6.6%) year-on-year.
- Personal income tax: €30.9 million, a 28.4% increase compared to 2024.
- VAT revenue: €383.9 million, rising €37 million (10.7%) over last year, and €5.8 million above plan.
- Excise taxes: €104.7 million, up €10.9 million (11.6%) annually, led by a 29.7% increase in tobacco-related excises.
- Other revenues: €16.6 million, 87% above planned levels.
The Ministry also noted improved efficiency in VAT refunds and highlighted the expansion of the legal tobacco market. April 2025 alone brought in €317.1 million in total revenue, aligning with budget expectations.
Overall, the budget performance in early 2025 exceeded projections by €9 million, reflecting strong economic activity and effective fiscal management.
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