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State debt in Montenegro over 50% of GDP

State debt in Montenegro over 50% of GDP
Podgorica, August 9, 2013

In Montenegro, state debt has exceeded the value of 1.77 billion Euros, thus going over the threshold of 50% of GDP of this former Yugoslav republic.

The Ministry of Finance in Podgorica says that “state budget in Montenegro at the end of June reached a value of 1.77 billion Euros or 50.1% of Gross Domestic Product.

Foreign debt in Montenegro amounts to 1.32 billion Euros, while domestic debt amounts to 442 million Euros”.

This ministry also declared that budget deficit for the first half of 2013 amounted to 79.6 million Euros.

According to the information provided by the Ministry of Finance, during the first five months of the year, foreign direct investments amounted to 112.12 million Euros or 5.5% less compared to the same period a year ago.

There’s a drop even in the trade of goods and services for the first five months of 2013, amounting to 841.8 million Euros, 2.8% lower than imports realized in the same period last year.

The ministry said that trade deficit from January until May 2013 is 510.9 million Euros or 9.7% less than the same period last year. /ibna/

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