At the meeting that was held today, the Committee considered and decided to propose to the Parliament the adoption of the Proposal for the Law on Amendments to the Budget Law for 2020 and the Proposal for the Decision on Amendments to the Decision on Borrowing of Montenegro for 2020, the adoption of which had been proposed due to: the projected decline in economic activity caused by the COVID - 19 virus pandemic; loss of budget revenues as a result of decline in economic activity and the introduction of measures by the Government of Montenegro in order to combat the negative effects of the pandemic on citizens and the economy; the need to reduce budget expenditures, i.e. their redistribution, in order to provide funds for the implementation of measures aimed at supporting citizens and the economy, as well as for the increased costs of the health system and creating conditions for the possibility of signing loan agreements for the purpose of securing lacking funds for 2020.

The following was noted at the meeting of the Committee, among other things: amendments to the budget had been planned to amount to EUR 2,582.48 million, which is EUR 62.44 million lower than the projected amount of 2020 Budget; original budget revenues, compared to the originally planned, were reduced by EUR 349.37 million, i.e. by 17%; budget expenditures, were reduced by EUR 63.4 million or by 3%; planned deficit level amounts to EUR 335.68 million or 7.29% of the estimated GDP and compared to the originally planned, it increased by EUR 285.9 million, as well as that the lacking funds amount to EUR 877.49 million and they increased by EUR 286.93 million, or 49%. It was also pointed out that the total spending will amount to EUR 2,040.9 million, i.e. 3% lower compared to the original plan and it is expected that the public debt at the end of 2020 will reach EUR 3,798.8 million, or 82.5% of GDP.