Rajoni Posted on 2025-10-15 09:27:00

Montenegro's debt, over 60% of GDP - Reaches around 4.8 billion euros. External liabilities dominate, with 94%

From Kristi Ceta

Montenegro's debt, over 60% of GDP - Reaches around 4.8 billion euros.

Montenegro's total national debt reached 4.76 billion euros, or 60.11% of Gross Domestic Product (GDP) as of June 30. After deducting state deposits, the state's net debt was 4.19 billion euros, corresponding to 52.94% of GDP, according to the Ministry of Finance.

At the end of June, state deposits were 567.76 million euros, including 38,447 ounces of gold worth 108.08 million euros.

"Montenegro's total public debt, which also includes local government liabilities, was 4.82 billion euros, or 60.82% of GDP. While the net public debt, taking into account the deposits of the Ministry of Finance, was 4.25 billion euros, or 53.65% of GDP," the Ministry's report published on its official website states.

As for external debt, the figure reached 4.46 billion euros, which accounts for 56.31% of GDP, about 329.31 million euros more than at the end of March 2025. According to the Ministry, this increase was due to the issuance of government bonds on the international market worth 850 million euros, as well as the withdrawal of funds from previously drawn up credit agreements. The majority of external debt is related to bonds that were issued in previous years.

Total domestic debt as of June 30 was 300.77 million euros, or 3.80% of GDP, decreasing by 20.29 million euros compared to three months earlier.

According to the report, this contraction is the result of regular loan repayments, while the domestic debt structure is still dominated by loans taken from commercial banks. 

In the state structure of Montenegro, external debt occupies the largest share with 93.7 percent, while domestic debt accounts for 6.3 percent. Compared to the end of the first quarter, this ratio has remained almost unchanged.

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