Podgorica had spent €33.50 million of its €89.30 million capital investment budget by the end of September, leaving approximately €55.8 million in planned expenditure for the final quarter of 2026.
The execution rate of 37.51% reflects a slower pace of municipal investment spending, particularly in construction projects and local infrastructure, according to the capital city’s budget execution reports.
Local infrastructure accounted for the largest share of the capital budget, with €17.93 million spent against an annual allocation of €50.85 million, representing an execution rate of 35.25%. Construction expenditure reached just €1.34 million, equivalent to 11.38% of the amount allocated for the full year. Equipment purchases accounted for €4.56 million of the planned €11.75 million, while investment maintenance expenditure stood at €2.95 million against a budget of €7.50 million.
Other capital expenditure recorded a considerably higher execution rate. The city spent €6.73 million from the allocated €7.44 million, or 90.39%.
The differences between spending categories point to uneven implementation of the municipal investment programme. The published reports do not specify the reasons behind the execution levels recorded for individual budget items.
Potential factors affecting capital expenditure can include procurement procedures, construction schedules, planning requirements, contractor mobilisation and the timing of payments. The available information does not establish whether any of these factors caused delays in specific Podgorica projects.
The capital city also reported €15.17 million in unpaid obligations across its municipal companies and public institutions as of September 30. The administration of Podgorica separately recorded approximately €993,200 in obligations.
The published figures do not identify which individual companies or institutions account for these amounts, nor do they establish whether all reported obligations were already due for payment.
The outstanding balances and pace of capital expenditure are relevant to construction companies, engineering consultants, equipment suppliers and other businesses involved in municipal procurement. Delayed infrastructure spending can affect the timing of project delivery and demand for construction and related services, while overdue payments may place additional pressure on contractors’ cash flow.
Podgorica’s capital investment programme generates demand for infrastructure construction, municipal facilities, utility improvements and maintenance services. With a substantial portion of the annual allocation still unspent, the remaining budget execution will determine how much of the planned investment is translated into completed works and payments before the end of the year.
The September accounts do not establish whether the city intends to accelerate implementation during the final quarter or adjust its investment schedule. A project-level assessment comparing awarded contracts, construction progress and actual payments would provide further detail on the execution of municipal investments.
