Report on the Budget Execution of Montenegro - June 2026

Continuous growth of revenues, both compared to projections and the same period last year, reflects an increase in key macroeconomic indicators, employment and wages growth, improved tax discipline, strong activity of tax inspection, and positive effects of implemented reforms. An increase of € or 2% was also recorded in gross wages and employer contributions, amounting to 357.3 million €, or 67.4%, mainly related to the Employment Agency for subsidies to employers who hire persons with disabilities. The most significant expenditure in this category pertains to the Capital Budget, amounting to 82.55 million €. Lower expenditure levels compared to the plan are due to earlier fulfillment of obligations, as the Ministry of Finance paid these funds at the end of May, although the repayment obligations were due at the beginning of June. An increase of € or 5.8% was mainly allocated for the Health Insurance Fund to realize rights to medicines, medical supplies, materials, and medical-technical aids during the period January-June 2026.