Podgorica, (MINA-BUSINESS) – The Government has proposed amendments to the law on this year’s budget, in order to provide legislative conditions for the refinancing of the current debt and create fiscal reserve for the liabilities that will be due next year.
According to Minister of Finance Darko Radunovic, the legal basis will be created in this way for potential issue of the government bonds or a €500 million credit arrangement.
He said that he Government and the Ministry of Finance were carefully monitoring the situation in the international financial market, adding that this arrangement would create positive conditions for the refinancing of part of the public debt.
Radunovic said after a Cabinet meeting that none of the €500 million would hopefully be spent this year, as the deficit amounted to approximately €47 million.
“We need to raise around €142 million. I hope we will provide these funds through a bilateral arrangement,” said Radunovic.
He said that no more budget reviews are expected by the end of the year, adding however that he was ready to prepare one if necessary. Longer version of article is available on a link MINA ENGLISH SERVIS
