On todays continuation of the first Meeting of the Committee on Economy, Finance and Budget, after introductory statement of the Minister of Finance, the Committee stated that GDP for 2013 is estimated to 3,493 million euros, real GDP growth rate to 2.5%, inflation rate to 2.7%, budget deficit to 95,32 million euros or 2.7% of the GDP. Capital budget is projected to amount of 65,639 milliom euros. Original budget revenue for 2013 is planned in the amount of 1,161.80 million euros what makes 33.26 of projected GDP. Public spending in 2013 is planned in the amount of 1,375.8 million euros, what makes 39,4% of GDP. The amount of borrowing is projected to 250 million euros. With Proposal of the Law on Budget for 2013, issuing of guarantees is also planned, in the amount of 250 million euros. National debt is envisaged at the level of 1,904 million euros, i.e. 54,51% GDP.

During the discussion on Proposal for the Law on Budget of Montenegro for 2013, members of the Committee analyzed revenue and expenditure side of the budget, macroeconomic trends and risks, debt and obligations, foreign direct investments, capital budget, social protection transfers, possible increase of value-added tax and also posed a number of questions to representatives of the proponent.

In addition to the Minister of Finance and his Deputy, who were proponents, in accordance with Article 6 of the SAI Law, member of the Senate of State Audit Institution was invited, and in accordance with Article 67 of the Rules of Procedure of the Parliament of Montenegro, the meeting was attended by representatives of: Chamber of Economy of Montenegro, Montenegro Business Alliance, Montenegrin Employers Federation, Union of Free Trade Unions, NGO Institute “Alternativa”, NGO “Naša inicijativa”, as well as representatives of the Central Bank of Montenegro. Aimed at rationalization of discussion, the guests had ten-minute opportunity to express their opinion on the state Budget for 2013.

Voting on the Proposal for the Law on Budget for 2013 will be conducted during the continuation of the meeting on 27th December at 9p.m. In the continuation of the meeting, the Committee will also discuss on proposal of financial plans together with work plans of independent regulatory bodies for 2013, namely: Securities Commission, Insurance Supervision Agency, Energy Regulatory Agency, Agency for Medicines and Medical Devices, Agency for Electronic Communications and Postal Services and Agency for Electronic Media.