Montenegro’s Ministry of Finance is back in the spotlight! This time, it’s about the release of incomplete and, let’s be honest, inaccurate data on the country’s budget revenues for the first half of the year. Is this just another attempt to cloud the truth, or do we really have reasons to be optimistic? Let’s unravel this financial soap opera!
Incomplete Data or Intentional Concealment?
According to the official statement from the Ministry of Finance, the revenue data for June is still incomplete because the accounting entries for the previous month are still ongoing. Sounds like a convenient excuse, but is it enough? The usual practice is to publish data on the last day of the month for the previous month, but this time – we keep waiting.
Revenues Are Growing, But Where’s the Money?
The Ministry claims that budget revenues for the period January-June are higher by 12 million euros compared to the same period last year. The main drivers of growth are value-added tax (VAT) with an increase of 66 million euros, corporate income tax with 18.9 million euros, and excise taxes with 12.6 million euros. Sounds great, but there’s a catch – collections are at 97% of the plan, and the reason for slightly lower collections is delayed donations amounting to 28 million euros expected by the end of the year.
VAT and Refunds – A Vicious Cycle
Interestingly, VAT refunds in June were 6.4 million euros higher than last year, meaning the state is rapidly returning money, but this simultaneously reduces net revenues. The Tax Administration and Customs report gross collections in June exceeding the plan by 12 million euros, indicating stable collection of main revenues.
Deficit Shrinks, But Is It Really a Reason to Celebrate?
For the first five months of this year, a deficit smaller than expected by 61.2 million euros was achieved, which is certainly a positive sign. Also, a current expenditure surplus of 8.4 million euros was recorded. However, are these figures enough to overlook the problems with delayed data and uncertainties in financial policy?
Ministry’s Appeal: Use Only Official Data!
The Ministry of Finance urges the media to use exclusively official and relevant data from their website when reporting. The goal is to prevent the spread of inaccurate information that could lead to misunderstandings and misinformation among the public. Professionalism and ethics in journalism are, as they say, key to objective informing of citizens.
Conclusion: Financial Fog or Transparency?
While the Ministry of Finance claims the situation is stable and revenues are growing, the fact that June data is still not published and only preliminary results are available casts doubt on transparency. Is this just a technical issue or an attempt to hide the real picture of Montenegro’s finances? Readers, what do you think? Do you trust these numbers, or is this yet another financial puzzle confusing us? Drop a comment and let your voice be heard in this financial soap opera!
