Montenegro Stock Exchange saw a rise in indices and trading volume this week, coinciding with the announcement of a €54.9 million budget surplus in April. The MNSE10 index rose slightly to 1,170.75 points, while the MONEX index increased by 1% to 17,550.08 points. Trading volume jumped more than tenfold to €171,990.
Shares of major companies like Crnogorski Telekom, Jugopetrol, and Hipotekarna Banka recorded slight gains. Trading also involved companies such as Crnogorski elektroprenosni sistem, Solana Ulcinj, and Montenegroberza, among others.
The Ministry of Finance reported that the April budget surplus exceeded the plan by 21.6%. Budget revenues in the first four months totaled €897.5 million, or 11.3% of estimated GDP, showing an increase of €4.2 million compared to the same period last year. Growth was seen in nearly all key revenue categories.
Corporate profit tax reached €191 million, 6.6% higher than last year and €2 million above projections. Personal income tax revenue was €30.9 million, also surpassing expectations. Increased wages have contributed to higher indirect tax collection, with VAT and excise duties up by almost €48 million year-over-year.
Parliament postponed a vote on the law confirming a cooperation agreement with the UAE on tourism and real estate development. Although similar laws were passed earlier, President Jakov Milatović only signed the economic cooperation law and returned the tourism-related one for reconsideration, citing national interest concerns.
Milatović emphasized the importance of genuine reforms in the judiciary and public administration and stated that strong institutions are essential for sustainable economic growth.
The week also marked the official start of construction on the luxury Porta Rai Beachfront Hotel & Residences project in Ulcinj. Backed by Karisma Hotels & Resorts and Dobrov & Family Group, the €170 million investment is expected to generate an economic impact of €278 million over the next decade. Completion is planned for 2029.
