Montenegro has borrowed a total of €55 million since late September when the budget revision and the decision on borrowing were adopted, the Ministry of Finance told the RTCG portal. The ministry also admits that they expect to have a budget deficit until the end of they year, somewhat less than the one planned by the budget revision.
On 29 September, the parliament adopted the proposal for the decision on borrowing, envisaging a €350 million borrowing until the end of the year.
According to the Finance Ministry, the state has so far borrowed money through three auctions of treasury bills and via local banks. Through the auctions, carried out in line with the budget revision, Montenegro borrowed €39 million.
Earlier, the Finance Minister, Aleksandar Damjanovic announced that they would borrow money from CKB bank and later discussed the solutions with representatives of the Hungarian OTP Group. The ministry can’t reveal the details of their talks.
“Having in mind that the negotiations with CKB Bank, which operates within the OTP Group, are under way, right now we can’t reveal the details of the potential arrangement,” the ministry says.
