Podgorica, (MINA-BUSINESS) – The Parliamentary Group of the Democratic Party of Socialists (DPS) has submitted an amendment to the Draft Amendments to the Law on the Old Royal Capital, proposing that the funds earmarked by law for development should not be reduced, but should remain at the level of 0.6 percent of Montenegro’s current budget.

The Group also believes that the funds for carrying out legally defined competences should be increased from 0.4 percent to 0.5 percent. 

“In this way, total budget allocations for Cetinje would increase to 1.1 percent of the projected value of Montenegro’s current budget for each fiscal year, thereby further strengthening the developmental and institutional position of the Capital,” the DPS stated in a press release.

Members of Parliament are expected to discuss the proposed amendments to the Law on the Old Royal Capital today.

In accordance with the Law on the Budget and Fiscal Responsibility, an amendment to Article 30 of the Law on the Old Royal Capital has been proposed, whereby the funds intended for projects aimed at the development of Cetinje would be reduced from 0.6 percent to 0.5 percent of Montenegro’s current budget, while at the same time the funds for financing the local administration, for the purpose of exercising legally defined competences, would be increased from 0.4 percent to 0.5 percent.