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Participation of President of Senate at the Session Dedicated to Discussion on the Proposal for the 2016 Budget Law of Montenegro

Podgorica, 17th December 2015 – President of Senate, PhD Milan Dabović has participated at the session of the Parliamentary Committee on economy, finance and budget of Montenegro dedicated to discussion on the Proposal for the 2016 Budget Law of Montenegro.

President of Senate of the State audit institution has stated that the Ministry of finance has presented in a clear and transparent manner the data on the share of public debt in GDP and deficit, which is calculated according to the prescribed regulations.

“According to performed audits, the State audit institution points out that the deficit for the forthcoming year could be higher for the amount of 39 million euros which is planned for repayment of arrears from the previous period. During a year, these funds are used for extraordinary expenditures due to judicial rulings or payment of unrecorded outstanding liabilities or undertaken liabilities, which represent a burden for the period in which they occur and therefore, they increase deficit of the current period”, has stated President of Senate.

The President of Senate has stated that consolidation of deficit in the forthcoming year could increase the budget deficit of Montenegro for the amount of defined sources of financing from selling military propriety and donations.

The representatives of the following have taken part in the meeting: Central Bank of Montenegro, Montenegro Business Alliance, Chamber of Economy of Montenegro, Union of Employers of Montenegro, Association of Montenegrin Managers, Confederation of Trade Unions of Montenegro, Union of Free Trade Unions of Montenegro, NGOs: “Institute Alternative”, “Civic Alliance”, “Association of Youth with Disabilities of Montenegro”.