Montenegro collected €288.58 million in source revenue in August, an increase of 10.98% compared with the same month of 2025. Tax receipts accounted for 80.96% of the total, rising by 11.96% and exceeding the planned amount by 3.07%.
Excise duties recorded particularly strong growth, generating €10.33 million more than in August 2025, an increase of 22.34%. Over the first eight months of the year, value-added tax delivered the largest annual increase among the revenue categories highlighted by the central bank. VAT receipts rose by €54.10 million, or 6.15%, compared with the corresponding period a year earlier.
Personal income tax recorded the strongest positive deviation from the plan, with collections exceeding the target by €9.81 million, or 13.73%. Higher revenue coincided with a faster increase in public spending. Consolidated expenditure rose by 23.71% year on year in August and was 18.36% above plan. Capital expenditure reached €63.36 million, contributing to the increase in total spending.
The monthly budget deficit amounted to €2.50 million, as stronger revenue collection was accompanied by a substantial rise in expenditure. Source revenue growth of 10.98% remained below the pace of spending growth during the month.
