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Centralna banka Crne GoreCentral Bank of Montenegro
Bilten Centralne banke Crne GoreMaj 2011
Bulletin of Central Bank of MontenegroMay 2011
iiBilten Centralne banke Crne Gore Maj 2011.
IZDAVAČ: Centralna banka Crne Gore Bulevar Svetog Petra Cetinjskog br.6 81000 Podgorica Telefon: +382 20 665 331 Fax: + 382 20 665 336 WEB ADRESA: http:// www.cb-cg.org
SAVJET CENTRALNE BANKE: Mr Radoje Žugić, guverner Mr Milojica Dakić, viceguverner Dr Velibor Milošević, viceguverner Asim Telaćević Dr Milivoje Radović Dr Milorad Jovović Dr Srđa Božović
PRIPREMA: Dr Nikola Fabris, glavni ekonomista i Direkcija za monetarnu politiku i fiskalna istraživanja Direkcija za platni bilans i realni sektor
GRAFIČKO UREĐIVANJE: Odjeljenje za publikacije
Podaci objavljeni u ovom Biltenu su preliminarni i moguće su korekcije nakon dobijanja konačnih podataka.
Molimo korisnike ove publikacije da prilikom korišćenja podataka iz izvještaja obavezno navedu izvor.
Bulletin of Central Bank of MontenegroMay 2011
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PUBLISHED BY: Central Bank of Montenegro Bulevar Svetog Petra Cetinjskog 6 81000 Podgorica Telephone: +382 20 665 331 Fax: +382 20 665 336
WEBSITE: http:/www.cb-cg.org
CENTRAL BANK COUNCIL: Radoje Žugić, MSc, Governor Milojica Dakić, MSc, Vice-Governor Velibor Milošević, PhD, Vice-Governor Asim Telaćević Milivoje Radović, PhD Milorad Jovović, PhD Srđa Božović, PhD
PREPARED BY: Nikola Fabris, PhD, Chief Economist Directorate for Monetary Policy and Fiscal Research Directorate for Balance of Payments and Real Sector TRANSLATED BY: Translation Services Division
DESIGNED BY: Publications Division
Data published in this Bulletin are preliminary and subject to revision as final data become available.
Users of this publication are requested to make reference to the source of information whenever they use data from the Report.
ivBilten Centralne banke Crne Gore Maj 2011.
Bilten Centralne banke Crne Gore predstavlja mjesečnu publikaciju koju priprema Centralna ban-ka Crne Gore. Bilten je pregled najvažnijih statističkih podataka koji predstavljaju dobru bazu za sadašnje i buduće analize kretanja u crnogorskom bankarstvu i privredi. Osnovni akcenat je na podacima čiji je izvor Centralna banka Crne Gore, vezanim za monetarna kretanja, bankarski sistem, platni bilans i platni promet u zemlji i inostranstvu. Takođe je napravljena statistička baza drugih makroekonomskih pokazatelja iz realnog i fiskalnog dijela, tržišta novca i tržišta kapitala, kao i neki uporedni podaci o zemljama koje su u procesu Evropskih integracija. Sadržajno se sastoji iz dva dijela: kratkog pregleda kretanja i statističkog pregleda. Na kraju su data metodološka objašnjenja tabela.
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The Bulletin of Central bank of Montenegro is a monthly publication prepared by the Central Bank of Montenegro. Bulletin has been envisaged as an overview of the most important statistical data that represent a good base for current and future analyses of developments in the Montenegrin banking system and economy. The emphasis was put on data whose source is the Central Bank of Montenegro and which are related to monetary developments, banking developments, the balance of payments, and payment operations in the country and abroad. There is also a statistical base of other macroeconomic indicators in the real and the fiscal sphere, the money market and the capital market, as well as some comparative data on countries undergoing the European integration process. The content consists of two parts: a short overview of developments and a statistical overview. Methodological explanations of tables are given at the end of the document.
viBilten Centralne banke Crne Gore Maj 2011.
Sadržaj
MAKROEKONOMSKA KRETANJA 8
STATISTIČKI BILTEN 32
I Monetarna statistika 32
II Tržište novca i tržište kapitala 47
III Ekonomski odnosi sa inostranstvom 58
IV Platni promet 63
V Realni sektor 69
VI Fiskalni sektor 74
VII Međunarodne komparacije 78
VIII Metodologija 82
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Contents
MACROECONOMIC ENVIRONMENT 9
STATISTICAL BULLETIN 32
I Monetary Statistics 32
II Money Market and Capital Market 47
III International Economic Relations 58
IV Payment operations 63
V Real Sector Developments 69
VI Fiscal Developments 74
VII International Comparison 78
VIII Methodology 83
8Bilten Centralne banke Crne Gore Maj 2011.
Makroekonomska kretanja
Grafik br. 1 – Potrošačke cijene
Izvor: Monstat
Inflacija je nepromijenjena. Industrijska proizvodnja bilježi pad. Šumarstvo i turizam ostvaruju rast. Krediti su na istom nivou, kao i prethodnog mjeseca, a depoziti i ukupni kapital ostvaruju rast. Porast prometa na berzi.
Kretanje cijena
Potrošačke cijene su, prema podacima Monstata, u aprilu 2011. godine ostale nepromijenje-ne u odnosu na prethodni mjesec. Najveći rast cijena je zabilježen u kategoriji „prevoz“ (0,7%) i kategoriji „hrana i bezalkoholna pića” (0,4%). U okviru druge kategorije, najveći rast cijena je ostvaren u grupi mlijeko, sir i jaja od 1,7% i grupi hleb i žitarice od 1,1%. Rast je zabilježen i u kategorijama „zdravstvo” i „alkoholna pića i duvan” od po 0,3%. Najveći pad cijena je za-bilježen u kategoriji „stanovanje” od 1,8%, najviše zbog pada cijena električne energije od 3,6%. Pad je ostvaren i u kategorijama „odjeća i obuća” i „pokućstvo i oprema za kuću” od 0,3% i 0,1%, respektivno. Cijene iz kategorija „komunikacije“, „kultura i rekreacija”, „obrazo-vanje”, „restorani i hoteli” i „ostala dobra i usluge” ostale su nepromijenjene u odnosu na pret-hodni mjesec.
Godišnja stopa inflacije, mjerena indeksom potrošačkih cijena, iznosila je 3,7%, dok je pro-sječna stopa (prva četiri mjeseca ove godine u odnosu na isti period prethodne) iznosila 2,6%.
Bulletin of Central Bank of MontenegroMay 2011
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Macroeconomic environment
Source: Monstat
Graph 1 - Consumer prices
Inflation remains unchanged. Industrial production is on a downward trend. Forestry and tourism are on an upward trend. Loans are at the same level as in the previous month, while deposits and total capital record increase. Turnover at the stock exchange increases.
Prices
According to Monstat, consumer prices remained the same in April 2011 in relation to the previous month. The highest increase was recorded in prices of transportation by 0.7% and in prices of food and non-alcoholic beverages by 0.4%. Within the second category, the highest growth in prices was recorded in the group “milk, cheese and eggs” – 1.7%, and “bread and crops” – 1.1%. Growth of 0.3% was recorded in categories “health care” and “alcoholic beverages and tobacco.” The highest decline of prices was recorded in the “housing” category (1.8%), mostly due to the decline of electricity prices (3.6%). The decline was recorded in categories “clothes and footwear” and “household furnishings and equipment” by 0.3% and 0.1%, respectively. Prices under the categories “communications”, “culture and entertainment”, “education”, “restaurants and hotels” and “other goods and services” remained unchanged in relation to the previous month.
The annual CPI inflation was 3.7%, whereas the average rate (the first 4 months of 2011 in comparison with the same months in 2010) amounted to 2.6%.
10Bilten Centralne banke Crne Gore Maj 2011.
Grafik br. 2 – Cijene proizvođača
industrijskih proizvoda
Izvor: Monstat
Cijene proizvođača industrijskih proizvoda
Cijene proizvođača industrijskih proizvoda su u aprilu 2011. godine ostale nepromijenjene u odnosu na prethodni mjesec. Rast cijena je zabilježen u prerađivačkoj industriji od 0,9%, dok su cijene vađenje ruda i kamena i proizvodnje električne energije, gasa i vode ostvarile pad u odnosu na prethodni mjesec od 0,8%, odnosno 2,6%.
Na godišnjem nivou, cijene proizvođača industrijskih proizvoda zabilježile su rast od 4,7%, najviše zbog rasta cijena u prerađivačkoj industriji od 9,5%. Cijene vađenja ruda i kamena na godišnjem nivou niže su za 13,1%, a cijene proizvodnje električne energije, gasa i vode za 2,6%.
Industrijska proizvodnja
Industrijska proizvodnja je, u aprilu 2011. godine, zabilježila pad od 15,1% u odnosu na pret-hodni mjesec, a u odnosu na isti mjesec prethodne godine pad od 20,4%. Dva sektora su zabilježila mjesečni pad proizvodnje, i to sektoru prerađivačke industrije za 8,4% i sektor proizvodnja električne energije, gasa i vode za 26,1%, dok je sektor vađenja ruda i kamena zabilježio mjesečni rast od 1,7%.
U prva četiri mjeseca ove godine u odnosu na isti period prethodne godine zabilježen je pad ukupne industrijske proizvodnje za 5,5%, kao posljedica pada proizvodnje u sektoru proi-zvodnje električne energije, gasa i vode od 20,8%. U istom periodu ostvaren je rast u prera-đivačkoj industriji od 11,9% i sektoru vađenja ruda i kamena od 12,4%.
U prerađivačkoj industriji, u uporednom periodu tri podsektora bilježe pad proizvodnje i to: prehrambeni proizvodi, pića i duvan (10,2%), proizvodnja tekstila i tekstilnih proizvoda (8,9%) i prerađivačka industrija, ostala (56,1%). Rast proizvodnje je zabilježen u sedam pod-sektora. Najveći rast je ostvaren u podsektoru proizvodnja saobraćajnih sredstava od 117%, dok je najmanji rast ostvaren u podsektoru proizvodnja paprira; izdavanje i štampanje od 3,7%. U istom periodu proizvodnja proizvoda od gume i plastičnih masa je ostala nepromi-jenjena, dok u podsektoru proizvodnja kože i predmeta od kože u prva četiri mjeseca 2011. godine nije evidentirana proizvodnja.
Bulletin of Central Bank of MontenegroMay 2011
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Graph 2 – Producers̀ prices of
manufactured products
Source: Monstat
Producers` prices of manufactured products
In April 2011, producers` prices of manufactured products remained unchanged if compared to March 2011. Prices growth was recorded in the manufacturing industry (0.9%), while the prices of mining and quarrying, electricity, gas and water supply decreased in relation to the previous month by 0.8% and 2.6%, respectively.
Producers` prices recorded the annual increase of 4.7%, mainly due to the 9.5% price increase in manufacturing industry. The mining and quarrying prices and those of electricity, gas and water supply showed the annual declines of 13.1% and 2.6%, respectively.
Industrial output
In April 2011, industrial output declined by 15.1% in relation to the previous month, while this decline amounted to 20.4% at the annual level. Two sectors recorded increase of production: manufacturing industry (8.4%) and electricity, gas and water supply (26.1%), while the mining and quarrying sector recorded increase of 1.7%.
In the first 4 months of this year, in comparison with the same period of the previous year, total industrial production decreased by 5.5%, as a result of decrease in production in energy, gas and water supply by 20.8%. Manufacturing industry recorded increase of 11.9% while this increase was 12.4% in the mining and quarrying sector.
In the comparative period, three sub-sectors recorded production decline in the manufacturing industry: food products, beverages and tobacco (10.2%), textile and textile products (8.9%) and manufacturing industry, other (56.1%). Production growth was recorded in seven sub-sectors. The highest growth was recorded in the production of the means of transportation (117%), while the lowest growth was recorded in the production of paper; issuing and printing (3.7%). In the same period, production of rubber products and plastic masses remained the same, while there was no production in the leather and leather products sub-sector.
12Bilten Centralne banke Crne Gore Maj 2011.
Grafik br. 3 – Industrijska proizvodnja
Izvor: Monstat
Saobraćaj i šumarstvo
U vazdušnom saobraćaju, u prva četiri mjeseca ove godine prevezeno je 5,9% više putnika nego u istom periodu prethodne godine, dok je u drumskom i željezničkom saobraćaju sma-njen prevoz putnika za 8% i 39,3%, respektivno.
U prva četiri mjeseca, u vazdušnom saobraćaju, prevezeno je više roba za 124,2%, u želje-zničkom saobraćaju za 21,1% (mjereno tonskim kilometrima), dok je u drumskom saobra-ćaju prevoz robe smanjen za 36,2% (mjereno tonskim kilometrima).
Ukupni promet u lukama je za prva četiri mjeseca iznosio 474,7 hiljada tona, i bio je manji za 13,5% u poređenju sa istim periodom prethodne godine, pri čemu je izvoz povećan za 2,9%, a uvoz za 13%.
U šumarstvu je u aprilu proizvedeno 16,9 hiljada m3 šumskih sortimenata što je 19,9% više nego u prethodnom mjesecu, a 27,7% više nego u istom mjesecu prethodne godine. U prva četiri mjeseca ove godine proizvedeno je 42,1 hiljada m3 šumskih sortimenata, što predsta-vlja rast od 63,8% u odnosu na isti period prethodne godine.
Turizam
Prema evidenciji Monstata, Crnu Goru je u prva četiri mjeseca posjetilo 82,1 hiljada turista, što predstavlja rast od 10,4% u odnosu na isti period prethodne godine. U istom periodu ostvareno je 299,8 hiljada noćenja što je za 3,4% više nego u istom periodu prethodne go-dine.
Tržište rada1
Broj nezaposlenih lica je u aprilu 2011. godine u odnosu na prethodni mjesec bio manji za 1,7%, a u odnosu na isti mjesec prethodne godine za 3%.
1 Podaci o broju zaposlenih za april 2011. godine nijesu bili dostupni u trenutku pisanja izvještaja.
Bulletin of Central Bank of MontenegroMay 2011
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Graph 3 – Industrial output
Source: Monstat
1 Data on the number of employees for April 2011 were not available during the writing of this report.
Transportation and Forestry
In the four months of 2011, 5.9% more passengers were transported by the air transportation in comparison with the same period of the previous year, while road and railway transportation recorded decline of 8% and 39.3%, respectively.
In the first four months, air cargo transportation was 124.2% higher, railway cargo transportation 21.1% higher (measured in tone kilometres), while road cargo transportation declined by 36.2% (measured in tone kilometres).
Total turnover in ports amounted to 474.7 thousand tonnes in the four months of 2011, thus being 13.5% lower than in the same period of the last year, whereby exports rose by 2.9% and imports by 13%.
As for forestry, some 16.9 thousand m3 of wood products was produced in April which was 19.9% more than in March and 27.7% more than in the same month of the previous year. In the first four months of 2011, 42.1 thousand m3 of wood products were produced, which is a 63.8% growth in comparison with the same period a year ago.
Tourism
According to Monstat data, some 82.1 thousand tourists visited Montenegro in the first four months of the current year, which is 10.4% more than in the comparative period in 2010. The number of tourist overnight stays amounted to 299.8 thousand, which is 3.4% more in relation to the same period in 2010.
Labour market1
Number of unemployed persons in April declined by 1.7% compared to the previous month. This increase was 3% in relation to the same month of the previous year.
14Bilten Centralne banke Crne Gore Maj 2011.
Bruto i neto plate su u aprilu 2011. godine, u odnosu na mart, zabilježile pad od 2,4%, odno-sno 2,3%. Realna zarada bez poreza i doprinosa u aprilu je, u odnosu na mart 2011. godine, bila niža za 2,3%.
Ukupna aktiva i pasiva banaka
Bilansna suma banaka je na kraju aprila ove godine iznosila 2.909,6 miliona eura što je pred-stavljalo rast na mjesečnom (0,2%) i godišnjem nivou (0,1%).
U strukturi aktive banaka, najveće učešće ostvaruju neto krediti sa 67,5%, novčana sredstva i depoziti kod depozitnih institucija sa 21,6% učešća i ostala aktiva sa 7,4%, dok se ostatak od 3,5% odnosio na preostale stavke aktive banaka. Najveći mjesečni rast zabilježen je kod rezervacija za kreditne gubitke (11,2%) i hartija od vrijednosti (8,5%).
U strukturi pasive, dominantno učešće su ostvarili depoziti sa 61,8%, potom pozajmice sa 22,5% i ukupni kapital sa 10,5%, dok se ostatak od 5,2% odnosio na preostale stavke pasive banaka. Rast učešća na mjesečnom nivou su bilježili depoziti (0,7%), pozajmice (0,4%) i ka-pital (1,1%).
Ukupan kapital banaka je na kraju aprila 2011. godine iznosio 305,9 miliona eura, što je rast kako na mjesečnom (1,1%) tako i na godišnjem nivou (3,3%).
Depoziti
Ukupni depoziti banaka su na kraju aprila iznosili 1.796,8 miliona eura. U odnosu na mart 2011. godine, ukupni depoziti su bili viši za 0,7%, dok su u odnosu na april 2010. godine bili viši za 2,7%.
U ročnoj strukturi ukupnih depozita, oročeni depoziti su činili 59,2%, dok su depoziti po viđenju činili 40,8% ukupnih depozita. U strukturi oročenih depozita, najveće učešće ima-li su depoziti od tri mjeseca do jedne godine (57,2%) i depoziti do tri mjeseca (22,8%).
Tabela br. 1 - Ročna struktura
depozita, kraj perioda, %
IV 2010. III 2011. IV 2011.
Depoziti po vidjenju 36,7 40,2 40,8
Oročeni depoziti 63,3 59,8 59,2
do 3 mjeseca 18,4 13,3 13,5
od 3 mjeseca do 1 godine 32,8 34,7 33,8
od 1 do 3 godine 10,7 9,1 9,2
preko 3 godine 1,3 2,7 2,7
Posmatrano po sektorima, u ukupnim depozitima dominirali su depoziti fizičkih lica sa 54% učešća.
Bulletin of Central Bank of MontenegroMay 2011
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Table 1 - Term structure of deposits,
period-end, %
IV 2010 III 2011 IV 2011
Demand deposits 36.7 40.2 40.8
Time deposits 63.3 59.8 59.2
Up to 3 months 18.4 13.3 13.5
From 3 months up to 1 year 32.8 34.7 33.8
From 1 to 3 years 10.7 9.1 9.2
Over 3 years 1.3 2.7 2.7
Gross and net salaries declined by 2.4% and 2.3%, respectively, in relation to the previous month. Real wage, without taxes and contributions was 2.3% lower in relation to March.
Total assets and liabilities of banks
Total assets and liabilities of banks amounted to EUR 2.909,6 million at end-April 2011, recording the decline at the monthly (0.2%), as well as at the annual level (0.1%).
In the structure of total assets, net loans accounted for the main share of 67.5%, followed by monetary assets and deposits with depository institutions with 21.6% and other banks’ assets with 7.4%, while other asset items accounted for the remaining 3.5%. The highest monthly increase was recorded with loan loss provisions (11.2%) and securities (8.5%).
As for the banks` liabilities, deposits accounted for the main share of 61.8%, followed by borrowings with 22.5% and total banks’ capital with 10.5%, whereas the remaining 5.2% were other liabilities items. Monthly share growth was recorded by deposits (0.7%), borrowings (0.4%) and capital (1.1%).
At end-April 2011, total capital amounted to EUR 305.9 million, thus increasing by 1.1% and 3.3% respectively at the monthly and annual level.
Deposits
Total banks’ deposits amounted to EUR 1.796,8 million at-end April. In relation to March 2011, total banks’ deposits were 0.7% higher, while in relation to April 2010 they were 2.7% higher.
Maturity structure of total deposits shows that 59.2% of total deposits referred to time deposits, while demand deposits accounted for 40.8%. In the structure of time deposits, the highest share was recorded by deposits with maturity from 3 months to 1 year (57.2%), and deposits with maturity up to three months (22.8%).
Observed by sectors, household deposits accounted for the main share of total deposits with 54%.
16Bilten Centralne banke Crne Gore Maj 2011.
Tabela br. 2 - Sektorska struktura
depozita, kraj perioda
Depoziti stanovništva
Depoziti stanovništva su, na kraju aprila 2011. godine, iznosili 971,1 milion eura i bili su za 1,8% viši nego na kraju marta ove godine. U odnosu na april prethodne godine, depoziti stanovništva su ostvarili rast od 13,7%.
U ročnoj strukturi depozita stanovništva, oročeni depoziti su činili 67,2%, dok su depoziti po viđenju iznosili 32,8%.
IV2010.
III2011.
IV2011.
IV2010.
III2011.
IV2011.
u 000 EUR u %
Finansijske institucije 197.741 101.703 117.398 11,3 5,7 6,5
Nefinansijske institucije 543.625 510.422 506.814 31,1 28,6 28,2
Opšta vlada (Vlada, fondovi, opštine)
125.421 122.466 108.198 7,2 6,9 6,0
Fizička lica 853.861 953.922 971.107 48,8 53,5 54,0
Neprofitne organizacije 23.276 22.259 21.812 1,3 1,2 1,2
Ostalo 5.538 72.804 71.442 0,3 4,1 4,0
UKUPNO 1.749.462 1.783.577 1.796.770 100,0 100,0 100,0
Grafik br. 4 – Depoziti stanovništva
po ročnosti, u 000 000 eura
Krediti
Ukupni krediti banaka su na kraju aprila 2011. godine iznosili su 2.092,1 milion eura, što je gotovo isti iznos kao na kraju marta ove godine, ali za 10,8% niže nego u aprilu 2010. godi-ne.
Koeficijent krediti/depoziti iznosio je 1,16 u aprilu tekuće godine, što je na približno istom nivou kao na kraju prethodnog mjeseca. Ovaj koeficijent je značajno poboljšan u odnosu na kraj aprila 2010. godine kada je iznosio 1,34.
Bulletin of Central Bank of MontenegroMay 2011
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Table 2 - Structure of deposits by
sectors, period-end
Graph 4 – Household deposits by
maturity, in EUR million
Household deposits
Household deposits amounted to EUR 971.1 million at end-April 2011, thus recording the increase at monthly, as well as at the annual level by 1.8% and 13.7%, respectively.
Time deposits with the share of 67.2% dominated in the maturity structure of household deposits, while demand deposits accounted for 32.8%.
IV2010
III2011
IV2011
IV2010
III2011
IV2011
EUR thousand In %
Financial institutions 197.741 101.703 117.398 11.3 5.7 6.5
Non-financial institutions 543.625 510.422 506.814 31.1 28.6 28.2
General Government (Government, Funds, municipalities)
125.421 122.466 108.198 7.2 6.9 6.0
Households 853.861 953.922 971.107 48.8 53.5 54.0
Non-profitable organisations
23.276 22.259 21.812 1.3 1.2 1.2
Other 5.538 72.804 71.442 0.3 4.1 4.0
TOTAL 1.749.462 1.783.577 1.796.770 100.0 100.0 100.0
Loans
Total banks’ loans amounted to EUR 2,092.1 million at end-April 2011, which is the same as in the previous month, but 10.8% less than in April 2010.
The loans/deposits ratio amounted to 1.16 in April 2011, which is almost the same as in the previous month. This ratio was substantially improved in relation to end-April 2010 when it was 1.34.
18Bilten Centralne banke Crne Gore Maj 2011.
Grafik br. 5 – Ukupni krediti i
depoziti, u 000 eura
Odnos kredita i depozita uvećanih za ukupno uzete pozajmice je iznosio 0,85, što je nezna-tna razlika u odnosu na prethodni mjesec, ali predstavlja poboljšanje u odnosu na april 2010. godine kada je ovaj odnos iznosio 0,95.
Grafik br. 7 – Krediti stanovništvu,
privredi i ukupni krediti banaka,
u 000 eura
Grafik br. 6 – Ukupni krediti,
depoziti i pozajmice banaka,
u 000 eura
Krediti odobreni privredi i stanovništvu dominantna su kategorija u strukturi ukupnih kre-dita banaka sa 93,9% učešća, dok se preostalih 6,1% odnosilo na finansijske institucije, or-ganizacije u javnom vlasništvu, inostrane firme, Opštu vladu i neprofitne organizacije.
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Graph 5 – Total loans and deposits,
in EUR thousand
Graph 6 - Disbursed loans, banks̀
deposits and borrowings, in EUR
thousand
Graph 7 - Loans to households, corporate
sector and total banks’ loans,
EUR thousand
The loans/deposits ratio increased by total borrowings remained almost the same as in the previous month (0.85), but represents improvement in relation to April 2010 when this ratio amounted to 0.95.
Loans granted to the corporate sector and households are dominant in the structure of total banks’ loans with 93.9% share, while the remaining 6.1% referred to financial institutions, public organizations, foreign companies, General Government and non-profit organizations.
20Bilten Centralne banke Crne Gore Maj 2011.
Likvidnost banaka
Prosječna likvidna sredstva banaka su u aprilu 2011. godine iznosila 402,5 miliona eura, i u odnosu na prethodni mjesec bila su niža za 25%2, dok su u odnosu na isti mjesec prethodne godine viša za 1,5%. Bankarski sistem je tokom aprila u cjelini bio iznad propisanih mini-muma, kako na dekadnom tako i na dnevnom nivou.
Obavezna rezerva
Ukupna izdvojena obavezna rezerva banaka kod CBCG iznosila je 164,5 miliona eura na kraju aprila tekuće godine. Izdvojeni iznos je na mjesečnom nivou bio viši za 0,5 miliona eura, dok je na godišnjem nivou, izdvajanje banaka bilo niže za 1%.
Na računu obavezne rezerve u zemlji je bilo izdvojeno 68,7%, u državnim zapisima 23,9%, a na računu Centralne banke u inostranstvu 7,4%.
Deset banaka iskoristilo je mogućnost izdvajanja dijela obavezne rezerve u obliku državnih zapisa. Tako su ukupno izdvojena sredstva u obliku državnih zapisa iznosila 39,3 miliona eura na kraju aprila 2011. godine.
Efektivna stopa obavezne rezerve, mjerena odnosom izdvojene obavezne rezerve i ukupnih depozita, iznosila je 9,2% u aprilu i ostala je nepromijenjena u odnosu na prethodni mjesec (9,2%), dok je bila niža u odnosu na april prethodne godine (9,3%).
Grafik br. 8 – Izdvojena obavezna
rezerva, u 000 eura
Mikrokreditne finansijske institucije (MFI)
Ukupna aktiva mikrokreditnih finansijskih institucija na kraju aprila 2011. godine iznosila je 52,1 milion eura i bila viša za 1,9% u odnosu na mart, dok je u odnosu na april prethodne godine bila niža za 26,1%. Ukupni krediti MFI iznosili su 38,7 miliona eura, što je pad u odnosu na prethodni mjesec za 2,1%. U odnosu na april 2010. godine, ukupni krediti MFI su se smanjili za 33,8%, što predstavlja nastavak opadajućeg trenda.
2 Pad likvidnih sredstava u odnosu na prethodni mjesec je rezultat netačnog obračuna likvidnih sredstava od strane je-dne banke, koja je po nalogu supervizije izvršila korekcju obračuna likvidnih sredstava.
Bulletin of Central Bank of MontenegroMay 2011
21
Graph 8 - Reserve requirements,
in EUR thousand
2 Decline of liquid assets in relation to the previous month was due to incorrect calculation of liquid assets by one bank, which executed correction of liquid assets calculation, according to the CBM supervision order.
Liquidity of Banks
Average liquid assets of banks amounted to EUR 402.5 million in April 2011, representing a decline of 25%2 in relation to the previous month, while in relation to the same month of the previous year it was 1.5% higher. Liquidity ratios, at daily and ten-day basis, were above the prescribe minimum for the entire banking system.
Reserve requirements
Total allocated reserve requirements of banks deposited with the Central Bank of Montenegro amounted to EUR 164.5 million at end-April 2010. Banks’ allocation was EUR 0.5 million higher at the monthly level, while it was 1% lower observed annually.
Of total reserve requirements, 68.7% was allocated to the reserve requirement account in the country, 23.9% were in T-bills, and the remaining 7.4% to the Central Bank accounts held abroad.
Ten banks used the opportunity to allocate a part of their reserve requirements in T-bills in this month. Thus, total allocated assets in the form T-bills amounted to EUR 39.3 million at end-April 2011.
Measured by the allocated reserve requirement/total deposits ratio, effective reserve requirement rate amounted to 9.2% and remained the same in relation to the previous month, while it was lower in relation to the same month of the previous year (9.3%).
Micro-credit financial institutions (MFIs)
Assets of MFIs amounted to EUR 51.2 million at end-April 2011. They recorded monthly increase of 1.9%, while in relation to the previous year they declined by 26.1%. Total MFI loans amounted to EUR 38.7 million, which represents decline of 2.1% in relation to the previous month. MFIs loans declined by 33.8% in relation to April 2010. This represents the continuation of the declining trend.
22Bilten Centralne banke Crne Gore Maj 2011.
Grafik br. 9 – Kretanje prosječnih
ponderisanih nominalnih i efektivnih
kamatnih stopa na nivou sistema
Aktivne kamatne stope
Aktivna prosječna ponderisana nominalna kamatna stopa (APPNKS) je u aprilu 2011. go-dine iznosila 9,04% i u odnosu na prethodni mjesec je porasla za 0,02 p.p, dok je aktivna prosječna ponderisana efektivna kamatna stopa (APPEKS) iznosila 9,68% i porasla je za 0,01 p.p.
Na kredite odobrene fizičkim licima nominalna prosječna ponderisana kamatna stopa izno-sila je 9,62% i ostala je nepromijenjena u odnosu na mart. Efektivna prosječna ponderisana kamatna stopa je iznosila 10,34% i na mjesečnom nivou se smanjila za 0.01 p.p.
PPNKS na kredite odobrene pravnim licima iznosila je 8,64% i ostvarila je porast od 0,02 p.p. u odnosu na prethodni mjesec, dok je istovremeno PPEKS iznosila 9,22% i zabilježila porast od 0,01 p.p na mjesečnom nivou.
Grafik br. 10 – Kretanje prosječnih
ponderisanih efektivnih kamatnih
stopa na kredite odobrene fizičkim i
pravnim licima
Bulletin of Central Bank of MontenegroMay 2011
23
Graph 9 - Weighted average nominal
and effective interest rates at the
system level
Graph 10 - Weighted average
effective interest rates on loans
granted to natural and legal persons
Lending interest rates
In April this year, the weighted average nominal lending interest rate (WALNIR) and the weighted average lending effective interest rate (WALEIR) amounted to 9.04% and 9.68%, respectively. Observed at the monthly level, both interest rates recorded respective growth of 0.02 and 0.01 percentage points.
WANIR on loans granted to natural persons amounted to 9.62%, and remained the same as in the previous month. WAEIR amounted to 10.34% and recorded monthly decline of 0.01 percentage points.
WANIR on loans granted to legal persons amounted to 8.64% thus recording 0.02 percentage points’ growth in relation to the previous month, while WAEIR amounted to 9.22% recording increase of 0.01 percentage points at the monthly level.
24Bilten Centralne banke Crne Gore Maj 2011.
Tabela br. 3 - PPEKS na depozite
banaka po ročnosti, u %
Ročnost IV 2011.
Depoziti po viđenju 0,41
Oročeni depoziti
Do 3 mjeseca 4,13
Od 3 mjeseca do 1 godine 5,06
Od 1 do 3 godine 5,34
Od 3 do 5 godina 4,35
Preko 5 godina 3,46
Pasivne kamatne stope
Pasivna prosječna ponderisana efektivna kamatna stopa (PPPEKS) iznosila je 3,04% u apri-lu 2011. godine, i u odnosu na prethodni mjesec se smanjila za 0,20 procentnih poena, dok u odnosu na isti mjesec prethodne godine bilježi pad od 0,95 p.p.
PPEKS na depozite fizičkih lica iznosila je 3,42%, što je za 0,26 p.p. niže nego u prethodnom mjesecu. Istovremeno, PPEKS na depozite pravnih lica iznosila je 2,58%, i zabilježila je pad od 0,14 p.p. na mjesečnom nivou.
Razlika između aktivnih i pasivnih kamatnih stopa iznosila je 6,64 p.p. u aprilu 2011.godi-ne. Kamatna margina kod kredita odobrenih fizičkim licima iznosila je 6,92 p.p., dok je na kredite odobrene pravnim licima iznosila 6,64 p.p.
Tržište novca
Tokom aprila 2011. godine, održana je jedna aukcija državnih zapisa Vlade Crne Gore, sa rokom dospijeća od 182 dana. Prodata je ukupna emisija u iznosu od 3,6 miliona eura pri čemu je prosječna ponderisana kamatna stopa iznosila 2,72%. Ukupna tražnja je bila 5, 3 miliona eura.
Tržište kapitala
Ukupni promet na Montenegroberzi je u aprilu iznosio 8,6 miliona eura, što je za 122% više nego u prethodnom mjesecu, i dva puta više nego u istom mjesecu prethodne godine. U strukturi prometa, dominirale su akcije kompanija sa 93,9% učešća, zatim slijede obveznice fonda za obeštećenje sa 2,4% i akcije FZU sa 2,1%.
Na kraju aprila, indeks Monex 20 je iznosio 12.682,5 a index Monex PIF 5.519,8. Oba inde-ksa su zabilježila pad na mjesečnom nivou (0,6% i 1,6% respektivno), kao i na godišnjem nivou (13,6% i 22,9% respektivno).
Bulletin of Central Bank of MontenegroMay 2011
25
Table 3 - WAEIR on banks’ deposits by
maturity, %
Maturity IV 2011.
Demand deposits 0,41
Time deposits
Up to 3 months 4,13
From 3 months up to 1 year 5,06
From 1 to 3 years 5,34
From 3 to 5 years 4,35
Over 5 years 3,46
Deposit interest rates
WADEIR amounted to 3.04% in Aprilh 2011, and in relation to the previous month it decreased by 0.20 percentage points, while in relation to the same month of the previous year it declined by 0.95 percentage points.
WAEIR on household deposits amounted to 3.42%, which represents a 0.26 percentage points decline in relation to the previous month. WAEIR on legal persons’ deposits amounted to 2.58% or 0.14 percentage points lower at the monthly level.
In April, the difference between the lending and deposit interest rates amounted to 6.64 percentage points. The interest rate margin for loans granted to natural persons and legal persons was 6.92 percentage points and 6.64 percentage points, respectively.
Money market
One auction of T-bills of the Government of Montenegro was held in April this year, with 182-day maturity. Total issue amounted to EUR 3.6 million, total demand EUR 5.3 million, while EUR 3.6 million of T-bills was sold.
Capital Market
Total turnover at Montenegro stock exchange amounted to EUR 8.6 million, which was 122% more in relation to the previous month and two times more than in the same period of the previous year. In the turnover structure, companies’ shares with 93.9% of share were dominant, followed by Restitution Fund shares (2.4%) Deposit Protection Fund shares (2.1%).
At end-March, Monex 20 index amounted to 12.682,5 while Monex PIF was 5.519,8. Both indices declined at the monthly level (0.6% and 1.6%, respectively), as well as at the annual level (13.6% and 22.9%, respectively).
26Bilten Centralne banke Crne Gore Maj 2011.
Grafik br. 11 – Kretanje indeksa
MONEX20 i MONEX PIF
Izvor: Montenegroberza
Grafik br. 12 – Koeficijent obrta
sredstava
Izvor: Montenegro berza
Ukupna kapitalizacija na Montenegroberzi je u aprilu 2011. godine iznosila 3.019,9 miliona eura i bila je niža za 0,4% nego u prethodnom mjesecu.
Koeficijent obrta sredstava na Montenegroberzi u aprilu 2011. godine iznosio je 0.002837, što predstavlja porast u odnosu na prethodni mjesec kada je ostvaren obrt od 0.001275.
Domaći platni promet
Vrijednost realizovanog platnog prometa, u zemlji, u aprilu 2011. godine iznosila je 1.690,3 miliona eura. Realizovani platni promet ostvario je pad od 3,4% u odnosu na mart ove go-dine, a u odnosu na april prethodne godine, ostvaren je rast od 3,9%.
U strukturi ukupno realizovanog platnog prometa, većinsko učešće zabilježio je interni pla-tni promet sa 56,9%.
Posmatrano prema učešću realizovanih naloga, dominantno učešće od 66,5% ostvario je interni platni promet, sa 1.315,6 hiljade realizovanih naloga.
Bulletin of Central Bank of MontenegroMay 2011
27
Graph 11 - MONEX 20 and
MONEX PIF indices
Source: Montenegro Stock Exchange
Graph 12 - Turnover coefficient
Source: Montenegro Stock Exchange
Total capitalization at the Montenegro stock exchange amounted to EUR 3.019,9 million in April 2011 and was 0.4% lower than in the previous month.
Assets turnover coefficient at the Montenegro stock exchange amounted to 0.002837 in April 2011, representing the increase in comparison with the previous month when the turnover amounted to 0.001275.
Domestic Payment Operations
The value of the domestic payment transactions amounted to EUR 1,690.3 million in April 2011. It was 3.4% lower than in the previous month, while in relation to April of the previous year it recorded growth of 3.9%.
In the structure of effected payment operations, the highest share was recorded by the internal payment operations (56.9%).
Observed by the share of effected orders, dominant share was reported by the internal payment operations (66.5%) with 1.315,6 thousand of effected orders.
28Bilten Centralne banke Crne Gore Maj 2011.
Grafik br. 13 – Neto priliv stranih
direktnih investicija, u hiljadama
eura
Izvor: CBCG
Strane direktne investicije
U prva četiri mjeseca 2011. godine neto priliv stranih direktnih investicija, prema prelimi-narnim podacima, iznosio je 145 miliona eura i za 16% je manji nego u istom periodu 2010. godine. Ukupan priliv stranih direktnih investicija iznosio je 163 miliona eura, dok je isto-vremeno ostvaren odliv u iznosu od 18 miliona eura.
Od ukupnog priliva stranih direktnih investicija vlasnička ulaganja su iznosila 115 miliona eura, dok je priliv u formi interkompanijskog duga iznosio 38 miliona eura. U strukturi vla-sničkih ulaganja, investicije u preduzeća i banke čine 44,5% ukupnog priliva, a ulaganja u nekretnine 26%. Priliv novčanih sredstava po osnovu povlačenja sredstava rezidenata inve-stiranih u inostranstvu iznosio je 10 miliona eura.
Grafik br. 14 – Struktura
ukupnog priliva stranih
direktnih investicija u periodu
januar-april 2011. godine
Izvor: CBCG
Ukupan odliv stranih direktnih investicija u posmatranom periodu iznosio je 18 miliona eura, što je za 30,4% manje nego u prethodnoj godini. U strukturi odliva 9,4 miliona eura se odnosilo na ulaganja rezidenata u inostranstvu, dok je odliv po osnovu povlačenja ulaganja nerezidenata iznosio 8,6 miliona eura.
Bulletin of Central Bank of MontenegroMay 2011
29
Graph 13 - FDI inflow, EUR
thousand
Source: Central Bank of Montenegro
Graph 14 - Structure of total FDI
inflow, January-April 2011
Source: Central Bank of Montenegro
Foreign Direct Investments (FDI)
According to preliminary data, net FDI inflow amounted to EUR 145 million in the first 4 months of 2011, being 16% lower compared to the same period of 2010. Total FDI inflow amounted to EUR 163 million, while the outflow was EUR 18 million.
Out of the total FDI inflow, equity investments amounted to EUR 115 million, while inflow in the form of intercompany debt amounted to EUR 38 million. In the structure of equity investments, investments in companies and banks made up 44.5% of the total inflow, while investments in real estates accounted for 26%. Inflow of monetary assets arising from residents’ withdrawal of funds invested abroad amounted to EUR 10 million.
Total inflow of foreign direct investments in the reporting period amounted to EUR 18 million, which was 30.4% less in relation to the same period of 2010. In the outflow structure, EUR 9.4 million referred to residents’ investments abroad, while the outflow from withdrawal of non-residents’ investments amounted to EUR 8.6 million.
30Bilten Centralne banke Crne Gore Maj 2011.
3 Procjenjeni BDP za 2011. godinu iznosi 3.192 miliona eura.
Budžet Crne Gore
Prema procjeni Ministarstva finansija, ukupni primici budžeta sa državnim fondovima iznosili su 268,8 miliona eura. Tekući prihodi iznosili su 89,5 miliona eura, ili 2,8% procije-njenog BDP-a3, dok su prihodi od pozajmica i kredita iz inostranih izvora iznosili 179 mi-liona eura, a od privatizacije i donacija 0,3 miliona eura. Tekući prihodi bili su niži od plana za navedeni mjesec za 1,7%, a u odnosu na april 2010. godine, zabilježili su pad od 3,1%.
U strukturi tekućih prihoda najveće učešće, 61,3%, ostvarili su prihodi od poreza, zatim do-prinosi 33,3%, ostali prihodi 1,9%, naknade 1,7%, takse 1,4% i primici od otplate odobrenih kredita 0,4%. Prihodi od poreza bili su niži od planiranih za navedeni mjesec za 2,1%, dok su u odnosu na mart prethodne godine bili veći za 0,5%.
Veće ostvarenje od plana realizovano je kod ukupnih doprinosa za 5,6%. Takođe, prihodi od poreza na dobit pravnih lica uvećani su dva i po puta više od plana. Razlog višeg ostva-renja je naplata ovog poreza u skladu sa Uredbom o odloženom plaćanju poreza na dobit pravnih lica na šest mjesečnih rata, pri čemu je u aprilu plaćena prva rata poreskog duga.
Niže ostvarenje od plana ostvareno je kod naplate akciza (14,5%), dok je u odnosu na april prošle godine naplata akciza povećana za 10%, što je nastalo zbog izmjene strukture akciza u odnosu na prošlu godinu, kao i zbog drugačije tehnike plaćanja. Naplata poreza na doda-tu vrijednost u aprilu, takođe je manja za 16,4% od plana, dok je porez na međunarodnu tr-govinu i transakcije niži od plana za 21,4%.
Izdaci budžeta u aprilu 2011. godine iznosili su 100,4 miliona eura, ili 3,1% BDP-a. U odno-su na isti period prethodne godine rashodi su veći za 4,6%. U odnosu na april prethodne godine i u odnosu na plan, došlo je do rasta izdataka na poziciji Prava iz oblasti PIO i rasta izdataka na poziciji Prava iz oblasti socijalne zaštite.
U aprilu kapitalni budžet iznosio je 2 miliona eura.
Budžet Crne Gore, u aprilu 2011. godine, ostvario je deficit od 10,9 miliona eura, ili 0,3% BDP-a. Deficit budžeta za prva četiri mjeseca je iznosio 43,9 miliona eura, odnosno 1,4% procijenjenog BDP-a.
Bulletin of Central Bank of MontenegroMay 2011
31
3 Estimated GDP for 2011 amounts to EUR 3,192 million.
Budget of Montenegro
According to preliminary data of the Ministry of Finance, revenues of the Budget of Montenegro and the state funds amounted to EUR 268.8 million. Current revenues amounted to EUR 89.5 million or 2.8% of the projected GDP3, while revenues from borrowings and loans from foreign sources amounted to EUR 179 million, and from privatisations and donations EUR 0.3 million. Current revenues were lower than the plan by 1.7% while in relation to April 2010 they decreased by 3.1%.
In the structure of current revenues, tax collections accounted for the main share of 61.3%, followed by contributions 33.3%, duties 1.9%, compensations 1.7%, fees 1,4%, and revenues from loan repayments 0.4%. Tax revenues were lower than planned by 2.1%, while in relation to March 2010 they were 0.5% higher.
Higher realization of the plan was recorded with total contributions by 5.6%. Also, taxes on legal persons’ income two and half times than the plan. This was due to the collection of this tax in accordance with the Regulation on deferred payment of taxes on legal persons’ income in six monthly instalments, whereby the first instalment was paid in April.
Lower realization of the plan was recorded in payment of excise duties (14.5%), while in relation to April 2010 this payment increased by 10%, due to the change in the structure of excise duties in relation to the previous year, as well as due to different payment technique. Tax collection on value added was 16.4% than the plan, while tax on international trade and transactions was 21.4% lower than the plan.
Budget expenditures amounted to EUR 100.4 million or 3.1% of GDP in April 2011. In relation with the same period of 2010 expenditures were 4.6% higher. In relation to April 2010 and to the plan, expenditures in the position rights in the pension and disability insurance area increased as well as expenditures in the social protection rights area.
Capital budget amounted to EUR 2 million in April.
In April 2011, the Budget of Montenegro recorded a deficit of EUR 10.9% or 0.3% of GDP.In the first four months budget deficit amounted to EUR 43.9 million or 1.4% of estimated GDP.
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659
288.
320
24.2
620
024
.262
264.
059
277
140
17.5
87-1
7.44
72.
810
-14.
360
-45.
338
198.
093
31.7
5022
9.84
317
212
.902
13.0
7552
.118
Feb
Mar
336
18.0
6320
0.75
324
.843
07.
415
251.
409
23.4
870
023
.487
227.
922
487
262
16.8
81-1
6.61
82.
818
-13.
313
-44.
027
170.
254
25.2
5719
5.51
113
810
.455
10.5
9352
.532
Mar
Apr
336
22.2
0215
9.53
224
.773
07.
444
214.
287
23.5
880
023
.588
190.
699
306
266
15.6
89-1
5.42
32.
914
-12.
203
-44.
652
136.
676
474.
765
611.
441
125
11.3
5411
.479
52.3
91Ap
r
Maj
344
14.4
8317
7.55
924
.820
07.
247
224.
454
22.9
560
022
.956
201.
498
347
292
18.0
76-1
7.78
42.
896
-14.
541
-43.
267
143.
550
23.1
3216
6.68
214
311
.361
11.5
0452
.038
May
Jun
344
17.9
2118
7.79
324
.920
07.
248
238.
226
22.9
600
022
.960
215.
267
648
280
20.7
30-2
0.44
92.
924
-16.
877
-44.
183
150.
891
32.9
0418
3.79
513
811
.366
11.5
0447
.274
June
Jul
344
15.5
8325
6.64
824
.843
07.
251
304.
670
22.9
690
022
.969
281.
700
509
300
36.0
77-3
5.77
72.
910
-32.
358
14.7
7413
0.92
343
.834
174.
757
187
12.5
7212
.759
47.0
53Ju
ly
Aug
22.5
4616
.172
202.
224
24.8
690
7.25
127
3.06
322
.969
22.1
960
45.1
6522
7.89
861
028
440
.501
-40.
217
2.90
6-3
6.70
1-4
4.06
812
7.65
247
.714
175.
366
106
12.7
2712
.833
47.0
65Au
g
Sep
28.4
3920
.836
364.
237
25.1
290
7.14
144
5.78
222
.621
28.0
890
50.7
0939
5.07
394
140
213
4.47
1-1
34.0
692.
936
-130
.192
-43.
907
138.
330
110.
954
249.
284
140
11.7
8211
.922
47.5
83Se
p
Oct
28.4
3912
.186
339.
311
25.0
480
7.09
041
2.07
422
.459
28.0
890
50.5
4736
1.52
768
345
712
0.68
5-1
20.2
283.
340
-116
.205
-41.
781
132.
365
97.2
8822
9.65
318
412
.848
13.0
3247
.418
Oct
Nov
28.4
4313
.650
351.
221
25.1
130
7.07
442
5.50
122
.408
28.0
890
50.4
9637
5.00
548
244
814
3.78
8-1
43.3
403.
507
-139
.351
-43.
450
133.
918
85.2
0921
9.12
615
012
.852
13.0
0246
.976
Nov
Dec
28.4
5522
.488
314.
239
25.1
190
7.18
239
7.48
322
.751
28.1
000
50.8
5134
6.63
277
748
796
.893
-96.
405
3.53
7-9
2.09
1-4
3.22
913
4.40
010
3.91
223
8.31
212
612
.857
12.9
8346
.476
Dec
2010
30.3
1813
.880
334.
640
29.9
410
7.65
40
416.
432
24.2
4429
.945
054
.189
362.
243
718
550
71.4
80-7
0.93
03.
680
-66.
533
-45.
528
134.
114
142.
119
276.
233
177
18.4
9318
.670
46.3
3520
10
Jan
29.0
9112
.418
286.
335
25.1
190
7.34
536
0.30
723
.265
28.7
360
52.0
0130
8.30
643
845
710
2.28
9-1
01.8
323.
560
-97.
835
-43.
545
131.
092
62.9
6119
4.05
317
013
.360
13.5
3046
.434
Jan
Feb
29.5
2212
.660
291.
285
25.2
420
7.45
410
366.
172
23.6
1129
.164
052
.774
313.
398
461
462
98.5
34-9
8.07
23.
565
-94.
046
-44.
430
128.
778
74.5
5420
3.33
317
213
.963
14.1
3546
.314
Feb
Mar
29.4
4413
.447
268.
230
25.4
640
7.43
414
344.
033
23.5
4829
.086
052
.634
291.
400
707
602
75.0
69-7
4.46
83.
795
-69.
965
-44.
142
128.
382
76.7
3120
5.11
311
713
.767
13.8
8446
.580
Mar
Apr
29.6
6415
.145
245.
117
25.5
490
7.49
021
322.
987
23.7
2629
.306
053
.032
269.
955
480
650
62.1
98-6
1.54
83.
839
-57.
226
-44.
471
126.
275
69.1
9019
5.46
632
814
.840
15.1
6846
.563
Apr
Maj
31.1
0411
.021
250.
922
25.7
010
7.85
727
326.
632
24.8
8830
.742
055
.630
271.
002
457
654
55.3
10-5
4.65
74.
076
-50.
124
-45.
625
125.
727
79.3
3020
5.05
719
014
.844
15.0
3546
.412
May
Jun
31.4
8312
.026
228.
678
25.6
940
7.95
431
305.
866
25.1
9531
.121
056
.316
249.
550
703
342
42.9
26-4
2.58
44.
066
-37.
816
-45.
929
126.
281
69.9
5319
6.23
416
914
.849
15.0
1846
.411
June
Jul
30.4
6011
.818
212.
896
25.4
430
7.69
36
288.
316
24.3
6730
.098
054
.465
233.
851
449
374
28.3
38-2
7.96
54.
056
-23.
459
-44.
871
125.
586
67.6
8819
3.27
418
415
.973
16.1
5745
.832
July
Avg
31.0
9512
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213.
223
25.5
600
7.85
47
290.
380
24.8
7830
.728
055
.606
234.
775
443
461
29.5
30-2
9.06
93.
887
-24.
739
-45.
397
128.
336
64.9
2219
3.25
814
415
.977
16.1
2146
.053
Aug
Sep
29.8
1013
.021
396.
560
25.6
310
7.52
69
472.
556
23.8
3829
.443
053
.281
419.
275
713
470
216.
656
-216
.186
3.70
8-2
11.7
65-4
4.70
312
7.50
960
.894
188.
403
122
17.4
7217
.594
46.2
17Se
p
Okt
29.6
5716
.468
385.
177
25.5
300
7.48
613
464.
331
23.7
1329
.290
053
.003
411.
328
454
522
177.
339
-176
.817
3.66
7-1
72.6
96-4
4.89
913
3.22
285
.068
218.
290
487
18.4
7818
.965
46.2
76Oc
t
Nov
30.6
8417
.548
377.
551
25.6
300
7.74
77
459.
168
24.5
4030
.311
054
.852
404.
316
448
498
157.
141
-156
.643
3.66
4-1
52.5
32-4
5.88
513
3.23
199
.471
232.
702
227
18.4
8518
.712
46.2
56No
v
Dec
30.3
1813
.880
334.
640
29.9
410
7.65
40
416.
432
24.2
4429
.945
054
.189
362.
243
718
550
71.4
80-7
0.93
03.
546
-66.
667
-46.
556
134.
114
142.
119
276.
233
177
18.4
9318
.670
47.2
30De
c
2011
2011
Jan
29.8
3013
.613
312.
084
40.0
480
7.52
90
403.
103
23.8
4929
.457
053
.306
349.
797
354
488
70.1
68-6
9.68
03.
542
-65.
783
-46.
543
132.
588
131.
131
263.
719
339
19.8
0220
.141
46.6
97Ja
n
Feb
29.7
4114
.986
303.
276
40.0
540
7.50
51
395.
563
23.7
7229
.362
053
.134
342.
430
368
492
53.1
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2.62
83.
567
-48.
693
-46.
276
135.
731
137.
585
273.
317
333
19.8
1220
.145
46.5
51Fe
b
Mar
29.1
9614
.498
216.
762
39.9
570
7.36
66
307.
785
23.3
3128
.818
052
.149
255.
637
593
634
38.4
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7.76
63.
590
-33.
584
-45.
874
124.
783
79.0
3820
3.82
010
717
.223
17.3
3046
.776
Mar
Apr
28.5
4614
.346
379.
411
39.8
880
7.19
96
469.
396
22.8
0528
.167
050
.972
418.
424
367
346
187.
872
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3.60
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612
5.22
489
.934
215.
157
1.29
417
.235
18.5
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Apr
12
34
56
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edit
Liab
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es*
Statistički biltenI Monetarna statistika (preliminarni podaci)
Statistical bulletinI Monetary Statistics (preliminary data)
Statistical BulletinMay 2011
33
Ta
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la 1
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25
418
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May
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June
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Jan
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1.8
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31
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Feb
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25
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73
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May
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23
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22
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31
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June
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30
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17
37
.83
71
.31
5.8
98
1.8
97
31
8.1
08
July
Aug
27
3.0
63
29
9.7
26
57
2.7
89
45
.16
51
.15
1.4
94
1.1
96
.65
9-6
23
.87
0-1
61
.73
82
.60
3.8
46
2.4
42
.10
81
34
.31
56
00
.73
07
43
.84
21
.34
4.5
72
1.8
98
33
7.4
70
Aug
Sep
44
5.7
82
37
5.4
80
82
1.2
62
50
.70
91
.14
3.1
42
1.1
93
.85
1-3
72
.58
9-2
46
.33
72
.61
0.2
81
2.3
63
.94
41
35
.98
17
86
.08
97
25
.70
51
.51
1.7
94
1.8
97
34
1.6
82
Sep
Oct
41
2.0
74
29
1.3
04
70
3.3
78
50
.54
71
.09
9.9
06
1.1
50
.45
3-4
47
.07
5-2
24
.05
02
.59
1.8
10
2.3
67
.76
01
77
.92
25
85
.28
78
57
.48
21
.44
2.7
69
1.8
98
30
1.0
98
Oct
Nov
42
5.5
01
30
3.9
09
72
9.4
10
50
.49
61
.09
5.3
38
1.1
45
.83
4-4
16
.42
4-2
48
.35
22
.58
3.7
84
2.3
35
.43
21
45
.48
45
94
.55
38
64
.38
41
.45
8.9
37
1.8
97
31
2.6
91
Nov
Dec
39
7.4
83
32
7.8
02
72
5.2
85
50
.85
11
.03
9.6
24
1.0
90
.47
5-3
65
.19
0-1
79
.52
22
.42
8.3
46
2.2
48
.82
48
5.5
76
53
4.3
25
88
3.6
26
1.4
17
.95
11
.89
83
78
.21
0D
ec20
1041
6.43
239
9.15
981
5.59
154
.189
931.
613
985.
802
-170
.211
-132
.668
2.21
8.24
42.
085.
575
89.4
7758
6.23
387
9.92
71.
466.
160
2.48
535
7.24
120
10Ja
n3
60
.30
72
88
.39
56
48
.70
25
2.0
01
96
2.9
78
1.0
14
.97
9-3
66
.27
7-1
83
.11
42
.40
8.9
37
2.2
25
.82
28
5.0
90
50
7.6
28
88
8.9
96
1.3
96
.62
41
.89
93
75
.92
8Ja
nFe
b3
66
.17
22
77
.90
66
44
.07
85
2.7
74
97
3.9
22
1.0
26
.69
6-3
82
.61
8-1
74
.13
02
.40
3.6
45
2.2
29
.51
59
6.9
28
50
0.8
45
88
7.2
53
1.3
88
.09
81
.89
93
59
.97
7Fe
bM
ar3
44
.03
32
92
.36
36
36
.39
65
2.6
34
98
4.4
76
1.0
37
.11
0-4
00
.71
3-1
41
.83
52
.38
0.8
57
2.2
39
.02
29
8.1
68
50
8.7
46
87
8.6
81
1.3
87
.42
71
.89
93
50
.81
2M
arA
pr3
22
.98
73
10
.37
66
33
.36
35
3.0
32
1.0
11
.52
61
.06
4.5
58
-43
1.1
95
-11
7.5
94
2.3
60
.73
52
.24
3.1
40
10
2.1
07
50
4.5
42
86
0.7
43
1.3
65
.28
51
.89
93
42
.65
5A
prM
aj3
26
.63
23
61
.77
36
88
.40
55
5.6
30
1.0
13
.17
31
.06
8.8
03
-38
0.3
98
-11
0.1
68
2.3
46
.92
32
.23
6.7
55
11
5.1
21
53
8.7
21
87
1.6
68
1.4
10
.39
01
.89
93
28
.94
8M
ayJu
n3
05
.86
64
08
.19
17
14
.05
75
6.3
16
97
1.4
41
1.0
27
.75
7-3
13
.70
0-9
1.3
16
2.3
48
.78
02
.25
7.4
63
11
8.9
05
55
1.1
44
88
4.6
30
1.4
35
.77
41
.90
03
87
.18
7Ju
neJu
l2
88
.31
64
23
.66
17
11
.97
75
4.4
65
96
8.1
01
1.0
22
.56
6-3
10
.58
9-7
3.0
76
2.3
23
.95
62
.25
0.8
81
12
1.0
26
56
8.7
59
88
2.2
19
1.4
50
.97
81
00
36
8.1
88
July
Avg
29
0.3
80
49
1.3
99
78
1.7
79
55
.60
69
49
.31
71
.00
4.9
23
-22
3.1
43
-75
.17
62
.29
3.2
81
2.2
18
.10
51
16
.24
86
30
.69
48
94
.31
01
.52
5.0
04
10
03
53
.60
8A
ugSe
p4
72
.55
64
19
.26
18
91
.81
75
3.2
81
91
3.7
32
96
7.0
13
-75
.19
6-2
68
.50
32
.27
8.1
52
2.0
09
.64
91
21
.26
15
74
.66
78
95
.39
51
.47
0.0
62
03
43
.13
1Se
pO
kt4
64
.33
14
07
.32
08
71
.65
15
3.0
03
92
1.3
11
97
4.3
14
-10
2.6
63
-23
6.1
77
2.2
71
.01
72
.03
4.8
39
11
5.6
83
57
7.2
00
89
7.8
52
1.4
75
.05
20
34
1.4
41
Oct
Nov
45
9.1
68
42
1.0
83
88
0.2
51
54
.85
29
53
.22
31
.00
8.0
75
-12
7.8
24
-22
2.2
14
2.2
41
.60
82
.01
9.3
93
64
.29
25
72
.13
68
93
.75
91
.46
5.8
95
2.4
85
35
8.9
03
Nov
Dec
41
6.4
32
39
9.1
59
81
5.5
91
54
.18
99
31
.61
39
85
.80
2-1
70
.21
1-1
32
.66
82
.21
8.1
10
2.0
85
.44
28
8.4
49
58
6.2
33
87
9.9
27
1.4
66
.16
02
.48
53
58
.13
6D
ec20
1120
11Ja
n4
03
.10
34
16
.42
18
19
.52
45
3.3
06
92
5.9
77
97
9.2
83
-15
9.7
59
-13
4.0
35
2.1
69
.79
92
.03
5.7
64
41
.40
96
00
.39
08
82
.07
91
.48
2.4
69
2.4
87
34
9.6
39
Jan
Feb
39
5.5
63
40
7.5
85
80
3.1
48
53
.13
49
32
.22
89
85
.36
2-1
82
.21
3-1
15
.37
22
.16
7.8
77
2.0
52
.50
54
2.0
24
60
0.6
95
88
1.7
22
1.4
82
.41
72
.48
73
43
.36
2Fe
bM
ar3
07
.78
54
62
.49
97
70
.28
45
2.1
49
90
6.5
33
95
8.6
82
-18
8.3
97
-90
.52
82
.12
8.0
49
2.0
37
.52
14
4.0
43
57
5.6
45
87
7.5
62
1.4
53
.20
72
.48
73
49
.38
3M
arA
pr4
69
.39
64
53
.89
69
23
.29
25
0.9
72
93
3.2
40
98
4.2
12
-60
.92
0-2
28
.62
22
.13
3.9
52
1.9
05
.33
03
2.7
29
57
8.8
12
87
7.9
32
1.4
56
.74
42
.48
83
52
.45
0A
pr1
23
(1+
2)
45
6 (
4+
5)
7 (
3-6
)8
91
0 (
8+
9)
111
21
31
4(1
2+
13
)1
51
6
CB
MB
an
ks
To
tal
CB
MB
an
ks
To
tal
Ne
t
fore
ign
ass
ets
Ne
t cl
aim
s o
n
Ce
ntr
al
go
ve
rnm
en
t
Cla
ims
on
oth
er
sec
tors
To
tal
Oth
er
ite
ms
(ne
t)
Tra
nsf
era
ble
de
po
sits
Tim
e
de
po
sits
To
tal
de
po
sits
Se
curi
tie
s
oth
er
tha
n
sha
res
Ca
pit
al
acc
ou
nt
Cla
ims
on
no
nre
sid
en
tsL
iab
ilit
ies
to n
on
resi
de
nts
Do
me
stic
cre
dit
Liabi
litie
s*
Statistical BulletinMay 2011
35
Ta
be
la 1
.4 -
Ag
reg
atn
i bil
an
s st
an
ja b
an
ak
a,
u 0
00
eu
ra, s
tan
je n
a k
raju
pe
rio
da
Izvo
r: CB
CG
AK
TIV
AP
AS
IVA
No
vča
na
sre
dst
va
i
de
po
ziti
ko
d d
ep
.
inst
itu
cija
Kre
dit
i
Re
zerv
isa
nja
za
kre
dit
ne
gu
bit
ke
Ne
to
kre
dit
i
Ha
rtij
e o
d
vri
jed
no
sti
Ost
ala
ak
tiv
a
Re
zerv
isa
nja
za
gu
bit
ke
na
ost
ale
sta
vk
e a
kti
ve
De
po
ziti
Po
za
jmic
eO
sta
le
ob
av
eze
Uk
up
an
ka
pit
al
Uk
up
no
12
2.1
.2
.2.
34
56
78
91
0 (1
+2
.2+
3+
4+
5
=6
+7
+8
+9
)
2003
.96
.024
200.
625
-6.5
7019
4.05
516
.034
46.4
85-2
.840
211.
008
26.5
6022
.997
89.1
9334
9.75
820
0320
04.
107.
595
281.
483
-11.
249
270.
234
23.8
5345
.349
-2.6
6127
3.19
459
.542
20.8
6990
.765
444.
370
2004
2005
.26
7.01
937
5.94
1-1
3.51
136
2.43
016
.941
51.1
28-1
.762
487.
917
80.2
9421
.082
106.
463
695.
756
2005
2006
.51
1.90
284
7.166
-19.
048
828.
117
26.2
7066
.126
-1.0
001.
075.
769
172.
351
34.5
3314
8.76
21.
431.
415
2006
2007
664.
376
2.24
5.68
4-5
2.21
82.
193.
467
17.6
6710
1.37
4-1
.451
2.09
1.07
553
6.24
911
1.16
723
6.94
02.
975.
433
2007
Jan
49
4.6
08
90
5.3
85
-20
.08
78
85
.29
82
6.2
95
66
.28
2-1
.02
81.
109
.63
317
8.2
243
3.1
5115
0.4
471.
471.
455
Jan
Feb
48
8.3
411.
02
6.6
36
-21.
156
1.0
05
.48
02
7.12
26
8.3
82
-1.0
36
1.2
02
.293
188
.518
34
.62
016
2.8
591.
58
8.2
89
Feb
Mar
50
3.4
741.
152
.761
-23
.313
1.12
9.4
48
31.2
49
71.1
19-1
.19
81.
29
9.6
63
20
9.6
05
44
.17
818
0.6
46
1.7
34
.09
2M
arA
pr
50
2.2
48
1.2
65
.57
3-2
4.6
95
1.24
0.8
78
40
.541
75.9
28
-1.3
191.
375
.53
62
37.9
155
6.9
03
187.
92
21.
85
8.2
76A
pr
Maj
52
3.7
161.
38
7.0
81-2
7.9
82
1.3
59.0
99
43.5
65
78
.10
0-1
.13
61.
49
2.0
742
50
.54
651
.955
20
8.7
68
2.0
03
.34
4M
ayJu
n5
38
.124
1.5
02
.37
3-3
0.4
70
1.47
1.9
03
27.
63
98
6.0
89
-1.1
371.
581
.45
62
74.0
63
66
.36
32
00
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62
.12
2.6
18Ju
neJu
l61
6.8
551.
598
.037
-35
.38
61.
56
2.6
512
3.7
88
88
.18
9-1
.03
01.
701
.79
231
4.0
45
73
.101
201
.515
2.2
90
.45
3Ju
lyA
vg6
97.8
131.
672
.98
5-3
8.2
95
1.6
34
.69
024
.376
90
.39
6-1
.07
31.
82
8.5
9332
0.6
29
86
.27
921
0.7
012
.44
6.2
02
Aug
Sep
647
.46
61.
810
.613
-40
.80
21.
769
.811
19.7
45
94
.713
-1.0
70
1.81
9.6
6141
4.8
06
85
.37
221
0.8
27
2.5
30
.66
5Se
pO
kt67
1.3
83
1.9
48
.42
2-4
6.3
911.
90
2.0
3119
.871
93.2
96
-1.2
591.
917.
30
447
0.5
36
88
.701
20
8.7
82
2.6
85
.32
2O
ctN
ov6
51.6
88
2.0
22
.47
9-5
1.21
11.
971.
26
816
.52
397
.918
-1.2
29
1.9
40
.14
44
84
.759
90
.175
221
.09
02
.73
6.1
68
Nov
Dec
66
4.3
762
.24
5.6
84
-52
.218
2.1
93
.46
717
.66
710
1.37
4-1
.451
2.0
91.0
75
53
6.2
49
111.
167
23
6.9
40
2.9
75
.43
3D
ec20
0847
3.27
12.
797.
533
-111
.928
2.68
5.60
519
.076
139.
925
-8.2
161.
990.
590
908.
161
131.
533
279.
377
3.30
9.66
120
08Ja
n61
4.0
57
2.2
68
.014
-55
.98
92
.212
.02
517
.09
010
5.7
58
-1.4
94
2.0
45
.80
355
6.3
77
103
.947
241.
310
2.9
47.4
36
Jan
Feb
60
9.8
34
2.3
93.6
48
-59
.48
42
.33
4.1
63
21.2
2110
9.7
37-2
.28
02
.13
8.9
175
74.0
02
115
.10
024
4.6
56
3.0
72
.675
Feb
Mar
58
9.3
512
.467
.89
4-6
3.4
89
2.4
04
.40
52
0.5
39
116
.25
0-6
.07
82
.14
0.1
06
618
.68
810
6.7
89
25
8.8
84
3.1
24.4
67M
arA
pr
58
5.5
27
2.5
86
.94
4-6
5.5
73
2.5
21.3
7121
.20
011
4.3
41-6
.06
82
.20
0.1
816
53
.85
710
7.71
62
74.6
173
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6.3
71A
pr
Maj
57
9.4
53
2.6
54
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-67.
416
2.5
87.
09
52
0.4
7511
5.8
96
-6.1
02
2.2
29
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676
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811
4.2
752
76.7
743
.29
6.8
17M
ayJu
n6
24.6
56
2.7
19.5
10-7
2.5
60
2.6
46
.94
917
.96
212
5.4
56
-7.2
752
.275
.22
874
2.1
63
109
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28
0.8
373
.407
.74
8Ju
neJu
l5
75.5
68
2.7
94
.42
0-7
3.2
92
2.7
21.1
28
17.5
46
126
.111
-7.2
162
.28
0.7
06
754
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011
3.4
372
84
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33
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3.1
37Ju
lyA
vg61
4.9
45
2.8
26
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02
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127.
87
3-7
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02
.34
6.0
64
754
.92
911
9.5
77
281
.34
43
.501
.914
Aug
Sep
593
.39
62
.85
2.3
00
-81.
123
2.7
71.1
77
17.8
87
135
.619
-8.3
742
.32
5.9
73
77
7.8
27
122
.88
02
83
.024
3.5
09
.70
5Se
pO
kt4
95
.58
42
.813
.69
0-8
0.5
432
.73
3.1
4717
.993
136
.27
0-7
.991
2.1
68
.167
79
6.8
4212
5.1
58
28
4.8
35
3.3
75.0
03
Oct
Nov
48
5.6
79
2.7
79
.96
5-8
0.9
52
2.6
99
.013
17.9
06
138
.72
0-8
.27
32
.06
8.6
35
83
4.1
60
125
.99
23
04
.25
83
.33
3.0
45
Nov
Dec
473
.271
2.7
97.5
33
-111
.92
82
.68
5.6
05
19.0
7613
9.9
25
-8.2
161.
99
0.5
90
90
8.1
6113
1.5
33
27
9.3
77
3.3
09
.66
1D
ec
12
2.1
.2
.2.
34
56
78
91
0 (1
+2
.2+
3+
4+
5
=6
+7
+8
+9
)
Cu
rre
nc
y a
nd
de
po
sits
wit
h
de
po
sito
ry
inst
itu
tio
ns
Lo
an
sL
oa
n lo
ss
pro
vis
ion
sL
oa
ns,
ne
tS
ecu
riti
es
Oth
er
ass
ets
Pro
vis
ion
s fo
r a
sse
ts
oth
er
tha
n lo
an
sD
ep
osi
tsB
orr
ow
ing
sO
the
r
lia
bil
itie
s
To
tal
cap
ita
lT
ota
l
AS
SE
TS
LIA
BIL
ITIE
S
Ta
ble
1.4
- A
gg
reg
ate
ba
lan
ce s
he
et
of
ba
nk
s
en
d-p
eri
od
ba
lan
ce, E
UR
th
ou
san
d
Sour
ce: C
BM
36Statistički biltenMaj 2011.
AKTI
VAPA
SIVA
Ukup
noN
ovča
na s
reds
tva
i
dep
oziti
kod
dep.
inst
ituci
ja
Kred
itiRe
zerv
isanj
a za
kred
itne
gubi
tke
Net
o kr
editi
Har
tije
od
vrije
dnos
ti
Fina
nsijs
ki
deriv
ati
Fakt
orin
g i
forf
etin
g
Kast
odi
posl
ovi
Osta
la
aktiv
a
Reze
rvisa
nja
za g
ubitk
e na
osta
le st
avke
akt
ive
Depo
ziti
Kast
odi
posl
ovi
Poza
jmic
eFi
nans
ijski
deriv
ati
Osta
le
obav
eze
Ukup
an
kapi
tal
12
2.1.
2.2.
34
56
78
910
1112
1314
15 (1
+2.
2+3+
4+5+
6+7+
8
=9+
10+
11+
12+
13+
14)
2009
528.
707
2.39
7.75
6-1
50.2
242.
247.
532
63.6
1648
5.44
619
185.
947
-6.0
841.
824.
688
1.09
773
4.83
291
813
1.96
333
1.73
33.
025.
231
2009
Jan
455
.04
52
.75
0.0
37-1
18.0
812
.631
.95
618
.914
48
85
.60
30
140
.89
5-8
.98
51.
881
.021
58
69
43.3
598
62
144
.317
27
3.7
72
3.2
43
.91
7Ja
nFe
b4
52
.99
92
.681
.832
-121
.84
02
.559
.99
218
.493
26
45
.60
30
141.
65
6-9
.34
51.
77
2.8
52
624
1.0
00
.93
89
80
129
.20
32
65
.06
53
.16
9.6
62
Feb
Mar
416
.75
02
.68
2.1
55-1
25
.881
2.5
56
.274
49
.25
70
6.6
04
013
6.1
93-5
.117
1.76
1.2
00
63
89
90
.46
814
94
141.
62
02
64
.541
3.1
59
.96
1M
arA
pr
401
.80
22
.66
4.8
07-1
37.2
86
2.5
27.
52
04
9.5
559
92
0.2
30
014
8.6
56
-5.6
141.
72
2.7
95
70
41.
014
.18
311
84
143
.84
52
59.5
38
3.1
42
.24
9A
pr
Maj
44
8.4
82
2.6
52
.32
8-1
41.4
29
2.5
10.8
98
50
.83
621
315
.155
015
3.7
39
-5.1
811.
759
.859
617
1.0
02
.307
1255
145
.64
92
64
.45
63
.17
4.1
43
May
Jun
442
.89
42
.63
3.8
18-1
47.9
752
.48
5.8
4351
.09
221
19
.501
615
5.0
34
-5.4
761.
757.
091
859
971.
267
1259
137.
30
62
71.3
23
3.1
39
.10
5Ju
nJu
l43
2.9
152
.613
.221
-15
4.2
70
2.4
58
.95
05
0.1
57
217
5.5
28
615
8.8
66
-5.4
72
1.7
32.7
57
1.4
49
95
7.4
00
135
013
7.15
62
71.0
553
.10
1.1
67
Jul
Avg
433
.48
22
.57
2.9
31-1
52
.493
2.4
20
.43
85
0.7
7619
45
.52
86
159
.213
-5.4
56
1.7
30
.39
45
25
88
6.0
87
136
015
5.4
09
29
0.4
06
3.0
64
.18
1A
ugSe
p5
84
.097
2.5
70
.98
5-1
55.0
172
.415
.96
96
0.3
3713
55
.52
82
.48
616
1.11
1-5
.89
41.
90
0.2
29
60
88
74.3
53
1217
153
.26
22
94
.09
83
.22
3.7
67
Sep
Oct
479
.85
72
.55
3.3
40
-19
4.2
49
2.3
59.0
916
4.1
82
79
5.4
90
1516
3.4
44
-7.3
121.
837
.759
6.8
20
816
.18
411
8114
9.2
242
53
.67
93
.06
4.8
47
Oct
Nov
48
0.6
80
2.5
54
.94
8-1
91.7
68
2.3
63
.18
06
2.9
57
425
.49
047
172
.16
3-7
.30
81.
86
9.6
107.
53
37
97.7
79
1224
135
.391
26
5.7
143
.07
7.2
51
Nov
Dec
52
8.7
072
.397
.75
6-1
50
.224
2.2
47.5
326
3.6
164
85
.44
619
185
.947
-6.0
84
1.8
24.6
88
1.0
977
34
.832
918
131.
96
33
31.7
33
3.0
25
.23
1D
ec20
1062
9.73
52.
199.
973
-141
.663
2.05
8.30
962
.748
612
.707
2319
3.35
3-1
3.22
71.
789.
851
340
697.
400
614
144.
543
310.
906
2.94
3.65
420
10Ja
n4
44
.75
42
.376
.25
4-1
55.2
762
.22
0.9
78
61.3
90
25
5.4
08
1919
7.8
98
-6.3
44
1.7
78
.98
48
66
68
0.3
22
1.0
05
133
.45
832
9.4
94
2.9
24
.12
9Ja
nFe
b4
43.7
65
2.3
75.6
42-1
66
.95
02
.20
8.6
92
61.9
05
22
5.4
08
1919
7.0
44
-6.3
671.
767.
931
938
69
2.0
96
1.10
213
4.7
5931
3.6
62
2.9
10
.48
8Fe
bM
ar4
58
.08
22
.355
.92
6-1
60
.02
22
.19
5.9
04
63
.912
29
5.4
08
212
00
.293
-6.7
171.
767.
817
50
06
98
.80
097
914
4.6
04
30
4.2
322
.91
6.9
32
Mar
Ap
r4
61.8
162
.34
6.1
04
-16
2.8
742
.18
3.2
30
64
.72
02
65
.37
021
198
.00
3-5
.67
21.
749
.46
241
871
4.3
77
1.01
214
6.1
54
29
6.0
912
.90
7.5
14
Ap
rM
aj5
20
.847
2.3
31.0
37-1
78
.824
2.1
52
.213
64
.98
011
5.3
70
21
198
.813
-6.3
80
1.8
07.3
93
4.0
45
6
97.3
52
1.07
214
3.4
78
28
2.5
35
2.9
35
.87
5M
ayJu
n55
9.2
79
2.3
34
.30
0-1
76.0
92
2.1
58
.20
96
4.4
09
85
.37
02
3
20
0.1
53
-5.4
90
1.8
08
.30
8
34
8
68
0.8
54
775
150
.90
03
40
.776
2.9
81
.96
1Ju
nJu
l5
69
.58
42
.314
.04
0-1
81.7
90
2.1
32.2
50
64
.27
39
5.3
322
3
20
0.9
84
-5.4
69
1.81
0.1
91
60
6
68
9.3
1275
914
3.7
60
322
.35
72
.96
6.9
85
Jul
Avg
63
8.7
06
2.2
81.1
61-1
73
.95
22
.107
.20
96
6.9
326
5.3
322
3
199
.76
4-1
0.4
671.
867
.66
2
63
9
68
9.7
08
84
814
1.0
94
307
.555
3.0
07
.50
6A
ugSe
p5
60
.77
82
.26
3.2
01-1
78
.90
52
.08
4.2
96
69
.074
85
.332
24
198
.781
-10
.65
41.
78
2.8
58
6
02
6
89
.14
67
0713
7.41
02
96
.915
2.9
07
.63
8Se
pO
kt5
78
.947
2.2
55.0
83
-17
9.0
88
2.0
75.9
95
63
.031
85
.29
42
3
20
5.0
26
-10
.74
91.
78
6.2
37
467
6
96
.767
68
713
8.2
52
29
5.1
65
2.9
17
.57
5O
ctN
ov6
08
.312
2.2
26
.44
0-1
39
.321
2.0
87.
119
62
.75
65
5.2
94
23
21
7.7
78
-15
.376
1.7
90
.35
4
70
5
718
.54
66
95
142
.96
531
2.6
472
.96
5.9
12
Nov
Dec
62
9.7
35
2.1
99
.97
3-1
41.6
63
2.0
58
.30
96
2.7
48
612
.707
23
19
3.3
53
-13
.22
71.
78
9.8
51
34
0
697
.40
061
414
4.5
4331
0.9
06
2.9
43
.65
4D
ec20
1131
22Ja
n6
41.8
96
2.1
48
.73
9-1
08
.56
92
.04
0.1
70
63
.26
89
12.6
69
24
195
.113
-6.9
181.
80
8.8
26
1.
38
6
68
9.3
09
479
143
.28
83
02
.943
2.9
46
.23
1Ja
nFe
b6
38
.78
02
.151
.43
9-1
10.5
27
2.0
40
.912
63
.22
58
10.8
02
23
19
7.6
47-6
.659
1.81
8.0
05
6
50
6
83
.99
85
26
144
.747
29
6.8
122
.94
4.7
38
Feb
Mar
62
6.1
95
2.0
92
.09
0-1
15.3
611.
976
.72
971
.418
331
.36
424
2
05
.34
6-7
.56
51.
78
3.5
77
4
82
6
50
.73
34
62
165
.65
23
02
.607
2.9
03
.51
3M
arA
pr
62
8.5
30
2.0
92
.051
-12
8.2
82
1.9
63
.76
97
7.4
84
123
0.9
96
23
21
6.7
07-7
.919
1.7
96
.77
0
411
6
53
.33
341
915
2.7
49
30
5.9
20
2.9
09
.60
2A
pr
12
2.1.
2.2.
34
56
78
910
1112
1314
15 (1
+2.
2+3+
4+5+
6+7+
8
=9+
10+
11+
12+
13+
14)
Curr
ency
and
dep
osits
with
dep
osito
ry
inst
itutio
ns
Loan
sLo
an lo
ss
prov
ision
s
Loan
s,
net
Secu
ritie
sFi
nanc
ial
deriv
ativ
es
Fact
orin
g
and
forf
eitin
g
Cust
ody
Othe
r
asse
ts
Prov
ision
s for
ass
ets o
ther
than
loan
s
Depo
sits
Cust
ody
Borr
owin
gsFi
nanc
ial
deriv
ativ
es
Othe
r
liabi
litie
s
Tota
l
capi
tal
Tota
l
ASSE
TSLI
ABIL
ITIE
S
Ta
be
la 1
.5 -
Ag
reg
atn
i bil
an
s st
an
ja b
an
ak
a,
u 0
00
eu
ra, s
tan
je n
a k
raju
pe
rio
da
Ta
ble
1.5
- A
gg
reg
ate
ba
lan
ce s
he
et
of
ba
nk
s
en
d-p
eri
od
ba
lan
ce, E
UR
th
ou
san
d
Izvo
r: CB
CGSo
urce
: CBM
Statistical BulletinMay 2011
37
Tabela 1.6 - Ukupni krediti banaka, u 000 eura,
stanje na kraju perioda
Izvor: CBCG
Table 1.6 - Total banking loans,
end-period balance, EUR thousand
Source: CBM
I II III IV V VI VII VIII IX X XI XII
2003. 134.900 147.152 144.055 155.119 164.737 168.480 168.295 165.245 167.930 178.909 185.865 200.625
2004. 200.148 209.167 216.265 227.903 237.481 238.029 235.727 239.743 239.913 258.048 269.609 281.483
2005. 282.288 290.820 303.860 315.815 320.046 336.631 332.494 341.840 339.609 357.507 371.474 375.941
2006. 387.995 416.251 456.448 486.347 526.844 559.322 581.770 615.288 653.060 688.071 765.956 847.166
2007. 905.385 1.026.636 1.152.762 1.265.573 1.387.081 1.502.373 1.598.037 1.672.985 1.810.613 1.948.422 2.022.479 2.245.684
2008. 2.268.014 2.393.648 2.467.894 2.586.944 2.654.511 2.719.510 2.794.420 2.826.941 2.852.300 2.813.690 2.779.965 2.797.533
2009. 2.750.037 2.681.832 2.682.155 2.664.807 2.652.328 2.633.818 2.613.221 2.572.931 2.570.985 2.553.340 2.554.948 2.397.756
2010. 2.376.254 2.375.642 2.355.926 2.346.104 2.331.037 2.334.300 2.314.040 2.281.161 2.263.201 2.255.083 2.226.440 2.199.973
2011. 2.148.739 2.151.439 2.092.090 2.092.051
38Statistički biltenMaj 2011.
Ta
be
la 1
.7 -
Se
kto
rsk
a s
tru
ktu
ra k
red
ita
, u 0
00
eu
ra, s
tan
je n
a k
raju
pe
rio
da
Izvo
r: CB
CG Fi
nans
ijske
inst
itucij
eNe
finan
sijsk
e ins
tituc
ijeOp
šta v
lada
Fizič
ka li
caNe
prof
irne
orga
niza
cije
Osta
loUk
upno
Bank
eOs
tale
fin
ansij
ske
inst
itucij
eUk
upno
Priv
redn
a dr
uštv
a u
drža
vnom
vl
asni
štvu
Orga
niza
cije u
ja
vnom
vl
asni
štvu
Priv
redn
a dr
uštv
a u
priv
atno
m
vlas
ništ
vu
Pred
uzet
nici
Inof
irme
Ukup
noCe
ntra
lna
Vlad
a
Agen
cije i
in
stitu
cije
cent
raln
e Vl
ade
Loka
lna v
lada
- o
pštin
eDr
žavn
i fo
ndov
iUk
upno
12
3 (1
+2)
45
67
89
(4+.
.+8)
1011
1213
14
(10+
..+13
)15
1617
18
(3+
9+14
+15+
16+1
7)20
03.
1.52
517
01.
695
12.4
131.
773
114.
148
04
128.
338
16.4
9514
191
03.
024
20.5
7049
.959
630
200.
625
2003
.20
04.
1.00
02.
854
3.85
410
.545
7.70
315
9.27
85.
768
1.00
418
4.29
89.
162
405
1.73
57.
456
18.7
5874
.393
180
028
1.48
320
04.
2005
.37
9913
619
.646
7.46
420
6.06
04.
386
2.07
823
9.63
49.
864
5.40
93.
809
11.7
0330
.785
104.
316
943
127
375.
941
2005
.20
06.
544
5.94
46.
488
22.6
5810
.678
443.
582
5.09
12.
726
484.
735
12.1
533.
699
9.44
317
.561
42.8
5631
1.17
51.
912
084
7.166
2006
.20
075.
321
12.4
9817
.820
21.2
9510
.992
1.33
6.17
06.
954
17.2
171.
392.
628
395
8.50
312
.221
12.3
3833
.457
794.
104
7.67
50
2.24
5.68
420
0720
081.
800
22.2
9224
.092
27.8
519.
748
1.62
0.40
08.
739
26.5
431.
693.
281
5.10
81.
059
12.6
6711
.351
30.1
851.
037.
563
12.4
120
2.79
7.53
320
0820
090
7.21
47.
214
35.3
659.
602
1.31
5.06
77.
449
28.8
061.
396.
289
694.
023
26.8
2529
.575
60.4
9291
9.31
314
.448
02.
397.
756
2009
Jan
1.8
012
2.4
39
24.2
40
27.
157
9.7
48
1.5
83
.80
28
.53
92
6.5
321.
655
.77
817
21.
059
12.7
03
16.0
87
30
.021
1.0
27.
63
412
.36
60
2.7
50
.03
9Ja
nFe
b1.
80
021
.68
72
3.4
87
26
.210
9.9
121.
517.
83
08
.337
24.6
64
1.5
86
.95
210
51.
08
813
.17
82
3.7
54
38
.12
51.
02
0.9
90
12.2
78
02
.681
.832
Feb
Mar
1.8
00
20
.60
32
2.4
03
23
.68
79
.710
1.5
26
.367
7.91
831
.36
41.
599
.04
610
31.
116
13.7
8124
.07
23
9.0
72
1.0
09
.50
312
.13
00
2.6
82
.15
4M
arA
pr
1.8
00
19.9
53
21.7
53
24.0
62
9.6
72
1.51
6.6
22
7.8
94
31.3
72
1.5
89
.62
310
01.
310
13.6
52
29
.08
54
4.1
479
96
.332
12.9
52
02
.66
4.8
07A
pr
Maj
1.8
00
18.4
102
0.2
102
3.8
60
9.5
511.
511.
597
7.8
50
31.4
111.
58
4.2
69
98
1.18
116
.647
29
.10
347
.02
99
87.
714
13.1
06
02
.65
2.3
28
May
Jun
017
.12
817
.12
82
7.2
73
9.3
52
1.5
05
.27
07.
811
31.3
99
1.5
81.1
05
96
1.17
616
.655
29
.110
47.0
3797
5.5
79
12.9
69
02
.63
3.8
18Ju
nJu
l42
013
.147
13.5
6731
.44
69
.19
21.
48
7.91
17.
693
32.4
431.
56
8.6
85
2.0
83
1.17
318
.40
42
9.0
53
50
.712
967
.14
813
.10
80
2.6
13.2
20
Jul
Avg
012
.597
12.5
9732
.255
8.2
92
1.4
59.3
52
7.5
3231
.16
61.
53
8.5
98
80
2.7
69
18.2
64
31.1
06
52
.219
95
6.4
7413
.043
02
.57
2.9
31A
ugSe
p0
11.6
4711
.647
33
.93
57.
997
1.4
61.2
36
7.4
99
31.1
00
1.5
41.7
677
72
.76
218
.98
231
.69
95
3.5
199
50
.29
813
.75
40
2.5
70
.98
5Se
pO
ct0
12.5
1612
.516
36
.27
87.
993
1.4
50
.42
67.
27
232
.78
31.
53
4.7
52
743
.955
19.2
68
28
.89
25
2.1
89
939
.42
614
.45
60
2.5
53
.33
9O
ctN
ov0
12.4
57
12.4
57
40
.96
09
.57
71.
447
.82
27.
125
35
.52
71.
541
.011
72
3.9
48
21.5
03
31.7
35
57.
25
89
29
.53
414
.68
80
2.5
54
.94
8N
ovD
ec0
7.21
47.
214
35
.36
59
.60
21.
315
.067
7.4
49
28
.80
61.
39
6.2
89
69
4.0
23
26
.82
52
9.5
756
0.4
92
919
.313
14.4
48
02
.397
.75
6D
ec20
100
9.26
49.
264
39.9
8519
.750
1.16
1.11
36.
216
37.9
691.
265.
033
11.0
403.
008
32.8
961.
232
48.1
7686
3.59
113
.908
02.
199.
972
2010
Jan
07.
03
07.
03
03
4.6
199
.819
1.2
98
.632
7.3
35
28
.781
1.37
9.1
86
66
4.0
182
6.8
69
29
.571
60
.524
914
.84
514
.66
90
2.3
76.2
54
Jan
Feb
010
.96
810
.96
83
4.0
90
9.7
26
1.2
95
.541
7.24
72
8.4
56
1.37
5.0
60
6.0
64
4.0
122
7.3
96
29
.56
467
.03
69
07.9
70
14.6
08
02
.375
.642
Feb
Mar
010
.893
10.8
933
3.8
919
.937
1.2
84
.012
7.11
631
.45
61.
36
6.4
126
.06
04
.247
27.
592
25
.62
66
3.5
25
90
0.5
70
14.5
26
02
.355
.92
6M
arA
pr
010
.58
810
.58
83
5.5
56
10.2
811.
27
9.9
28
7.07
43
6.8
69
1.3
69
.70
811
.05
84
.23
92
8.6
1610
.28
55
4.1
98
897
.214
14.3
96
02
.34
6.1
04
Ap
rM
aj0
9.6
52
9.6
52
35
.38
810
.32
31.
27
3.6
62
7.0
62
37.6
92
1.3
64
.12
711
.05
44
.321
29
.459
10.2
87
55.1
218
87.
432
14.7
05
02
.331
.037
May
Jun
07.
08
47.
08
43
6.0
8110
.113
1.2
81.7
076
.92
03
6.7
181.
371.
53
911
.05
24
.512
29
.791
10.2
85
55.6
40
88
5.1
9714
.84
00
2.3
34
.30
0Ju
nJu
l0
6.7
80
6.7
80
34
.813
16.9
04
1.2
61.1
54
6.9
22
40
.216
1.3
60
.00
911
.05
04
.64
031
.36
510
.28
05
7.3
35
875
.20
014
.717
02
.314
.041
Jul
Avg
06
.72
56
.72
53
9.7
56
19.3
27
1.2
31.2
376
.632
40
.210
1.3
37.1
62
11.0
48
3.2
04
30
.15
810
.27
25
4.6
82
86
7.9
87
14.6
05
02
.281
.161
Aug
Sep
07.
459
7.4
593
8.0
25
19.0
191.
217.
94
06
.38
94
0.2
05
1.32
1.5
78
11.0
46
3.1
94
30
.243
10.2
595
4.7
428
65
.22
614
.19
60
2.2
63
.201
Sep
Okt
08
.00
28
.00
24
0.0
9719
.713
1.21
4.5
89
6.2
78
39
.393
1.32
0.0
70
11.0
44
3.1
85
29
.58
910
.243
54
.061
85
8.7
63
14.1
87
02
.255
.08
3O
ctN
ov0
9.5
99
9.5
99
39
.87
019
.54
51.
186
.73
06
.267
38
.37
91.
29
0.7
9111
.042
3.0
27
30
.72
710
.23
555
.031
85
6.9
52
14.0
67
02
.22
6.4
40
Nov
Dec
09
.26
49
.26
43
9.9
85
19.7
50
1.16
1.11
36
.216
37.9
69
1.2
65
.03
311
.04
03
.00
832
.89
61.
232
48
.176
86
3.5
9113
.90
80
2.1
99
.97
2D
ec20
1120
11Ja
n0
8.5
97
8.5
973
9.2
88
19.5
741.
143
.76
56
.08
93
0.6
20
1.2
39
.33
611
.03
82
.99
43
0.3
64
1.2
26
45
.62
28
41.6
58
13.5
25
02
.14
8.7
38
Jan
Feb
07.
410
7.41
043
.23
316
.88
01.
140
.867
6.1
53
34
.674
1.24
1.8
0711
.037
2.9
86
33
.83
01.
22
04
9.0
73
83
9.7
60
13.3
90
02
.151
.44
0Fe
bM
ar0
8.8
99
8.8
99
53
.18
017
.09
51.
06
5.5
60
6.0
72
34
.69
81.
176
.60
511
.03
52
.98
03
8.8
171.
240
54
.07
28
38
.46
514
.04
90
2.0
92
.09
0M
arA
pr
08
.87
28
.87
25
4.0
2416
.893
1.0
67.0
26
6.1
50
34
.691
1.17
8.7
85
11.0
33
3.1
69
38
.907
1.0
46
54
.155
83
6.2
1414
.02
60
2.0
92
.051
Ap
r
12
3 (1
+2)
45
67
89
(4+.
.+8)
1011
1213
14
(10+
..+13
)15
1617
18
(3+
9+14
+15+
16+1
7)
Bank
sOt
her
finan
cial
inst
itutio
nsTo
tal
Stat
e ow
ned
com
pani
esPu
blic
owne
d or
gani
zatio
ns
Priv
atel
y ow
ned
com
pani
esEn
terp
rene
urs
Fore
ign
com
pani
esTo
tal
Cent
ral
Gove
rnm
ent
Agen
cies a
nd
inst
itutio
ns
of Ce
ntra
l Go
vern
men
t
Loca
l Go
vern
men
t- M
unici
palit
ies
Gove
rnm
ent
Fund
sTo
tal
Hous
ehol
dsNo
npro
fit
orga
niza
tions
Othe
rTo
tal
Fina
ncia
l ins
itutio
nsNo
nfin
ancia
l ins
titut
ions
Gene
ral G
over
nmen
t
Sour
ce: C
BM
Ta
ble
1.7
- S
tru
ctu
re o
f lo
an
s b
y s
ec
tors
, en
d-p
eri
od
ba
lan
ce, E
UR
th
ou
san
d
Statistical BulletinMay 2011
39
Tabela 1.8 - Ukupni depoziti kod banaka, u 000 eura,
stanje na kraju perioda
I II III IV V VI VII VIII IX X XI XII
2003. 205.739 195.995 192.171 173.885 175.723 186.531 208.849 222.152 223.829 209.927 216.245 211.008
2004. 214.683 210.886 216.651 221.660 229.106 226.481 244.331 269.834 255.435 268.274 256.992 273.194
2005. 265.109 273.168 299.068 299.803 336.463 351.441 360.053 383.976 406.042 414.665 464.030 487.917
2006. 491.417 506.117 513.937 544.709 586.082 635.574 703.210 774.216 809.373 854.959 928.676 1.075.769
2007. 1.109.633 1.202.293 1.299.663 1.372.024 1.492.074 1.581.456 1.701.792 1.828.593 1.819.661 1.917.304 1.940.144 2.091.075
2008. 2.045.803 2.138.917 2.140.106 2.200.181 2.229.671 2.275.228 2.280.706 2.346.064 2.325.973 2.168.167 2.068.635 1.990.590
2009. 1.881.021 1.772.852 1.761.200 1.722.795 1.759.859 1.757.091 1.732.757 1.730.394 1.900.229 1.837.759 1.869.610 1.824.688
2010. 1.778.984 1.767.932 1.767.817 1.749.462 1.807.393 1.808.308 1.810.191 1.867.662 1.782.858 1.786.237 1.790.354 1.789.851
2011. 1.808.826 1.818.005 1.783.577 1.796.770
Table 1.8 - Total deposits with banks
end-period balance, EUR thousand
Izvor: CBCG Source: CBM
40Statistički biltenMaj 2011.
Ta
be
la 1
.9 -
Se
kto
rsk
a s
tru
ktu
ra d
ep
ozi
ta, u
00
0 e
ura
, sta
nje
na
kra
ju p
eri
od
a
Izvo
r: CB
CG
Fina
nsijs
ke in
stitu
cije
Nef
inan
sijs
ke in
stitu
cije
Opš
ta v
lada
Fizi
čka
lica
Nep
rofir
ne
orga
niza
cije
Ost
alo
Uku
pno
Bank
eO
stal
e fin
ansi
jske
in
stitu
cije
Uku
pno
Priv
redn
a dr
uštv
a u
drža
vnom
vl
asni
štvu
Org
aniz
acije
u
javn
om
vlas
ništ
vu
Priv
redn
a dr
uštv
a u
priv
atno
m
vlas
ništ
vu
Pred
uzet
nici
Inof
irme
Uku
pno
Cent
raln
a Vl
ada
Agen
cije
i in
stitu
cije
ce
ntra
lne
Vlad
e
Loka
lna
vlad
a -
opšt
ine
Drž
avni
fo
ndov
iU
kupn
o
12
3 (1
+2)
45
67
89
(4+.
.+8)
1011
1213
14
(10+
..+13
)15
1617
18
(3+
9+14
+15+
16+1
7)20
03.
1.84
51.
893
3.73
89.
461
12.5
6281
.556
06.
405
109.
984
13.9
619.
726
1.33
420
.066
45.0
8745
.070
3.73
73.
392
211.
008
2003
.20
04.
18.2
9712
.287
30.5
8413
.715
11.11
370
.691
1.06
57.
003
103.
587
10.6
9012
.695
2.02
920
.818
46.2
3279
.275
5.26
08.
257
273.
195
2004
.20
05.
17.9
8022
.090
40.0
7020
.345
4.59
312
2.09
11.
450
13.4
9316
1.97
220
.241
14.4
344.
178
58.9
8397
.836
175.
750
9.45
72.
832
487.
917
2005
.20
06.
34.2
1240
.858
75.0
7133
.265
8.89
028
5.46
32.
278
42.0
8537
1.98
121
.026
20.0
8615
.613
56.7
6511
3.49
049
9.37
611
.724
4.12
81.
075.
770
2006
.20
07.
58.7
7944
.313
103.
092
41.5
2816
.110
618.
919
3.08
655
.397
735.
040
24.4
4332
.939
74.4
0574
.257
206.
044
1.01
9.34
821
.664
5.88
62.
091.
074
2007
.20
08.
147.
790
45.7
7819
3.56
845
.193
19.5
3054
1.68
42.
578
92.7
5270
1.73
729
.854
40.1
3448
.212
74.4
4419
2.64
485
6.44
830
.569
15.6
241.
990.
590
2008
.20
09.
80.2
0210
5.15
918
5.36
141
.175
26.7
1546
6.82
12.
064
66.4
7160
3.24
657
.719
35.1
3517
.472
48.1
4115
8.46
784
3.90
725
.105
8.60
21.
824.
688
2009
.Ja
n15
0.7
60
47.1
06
197.
86
64
9.3
52
17.2
49
477.
44
42
.27
88
7.9
816
34
.30
42
5.9
87
38
.90
547
.73
56
9.3
1018
1.9
378
22
.271
29
.26
415
.38
01.
881
.02
2Ja
nFe
b15
6.5
134
6.7
03
20
3.2
164
6.7
06
15.7
174
00
.18
42
.211
90
.14
855
4.9
66
29
.318
40
.29
342
.681
66
.747
179
.03
97
92
.837
27.
259
15.5
36
1.7
72
.85
3Fe
bM
ar15
7.43
94
5.6
712
03
.110
47.4
68
24.2
83
38
8.7
50
1.9
52
87.
165
54
9.6
184
6.7
314
4.7
133
5.6
596
0.7
69
187.
87
27
80
.57
724
.412
15.6
09
1.76
1.19
8M
arA
pr
149
.414
47.3
9119
6.8
06
43.8
58
22
.241
36
8.2
68
1.8
69
120
.72
555
6.9
62
34
.60
942
.20
93
0.5
155
8.7
0716
6.0
39
762
.411
23
.25
717
.32
01.
72
2.7
95
Ap
rM
aj13
6.3
87
117.
655
25
4.0
423
9.8
93
21.2
143
95
.43
31.
841
107.
316
56
5.6
97
39
.512
40
.642
24.6
60
53
.36
415
8.1
79
747.
007
21.9
63
12.9
70
1.7
59.8
58
May
Jun
135
.78
011
1.0
5124
6.8
313
8.2
99
25
.48
24
00
.12
52
.16
210
2.4
50
56
8.5
183
8.9
82
43.6
35
22
.53
35
3.3
4115
8.4
92
75
0.3
08
22
.13
810
.80
51.
75
7.0
92
Jun
Jul
83
.80
012
8.5
7621
2.3
764
0.0
5124
.851
39
6.8
742
.53
39
8.8
73
56
3.1
82
39
.521
44
.22
32
2.2
88
51.1
45
157.
176
763
.98
02
2.0
73
13.9
69
1.7
32.7
56
Jul
Avg
80
.619
115
.910
196
.52
94
5.6
25
29
.541
426
.051
2.8
435
8.7
33
56
2.7
93
59.9
763
6.8
1321
.661
50
.56
616
9.0
1676
7.07
52
2.9
0712
.074
1.7
30
.39
4A
ugSe
p7
2.7
7111
4.5
63
187.
33
414
1.3
08
30
.776
50
2.9
23
2.4
815
8.3
98
73
5.8
86
59.1
72
43.0
50
18.3
60
51.5
1817
2.1
0176
9.9
27
22
.72
812
.25
31.
90
0.2
29
Sep
Oct
67.
166
114
.26
818
1.43
43
3.2
35
31.2
39
49
0.3
08
2.2
92
64
.043
621
.117
75
.771
38
.137
24.0
57
48
.051
186
.016
813
.542
23
.511
12.1
38
1.8
37.7
58
Oct
Nov
83
.53
313
4.3
3221
7.8
65
46
.99
02
8.4
8147
7.17
02
.37
76
0.1
82
615
.20
076
.05
33
8.9
612
0.9
5547
.117
183
.08
681
6.4
5924
.69
912
.301
1.8
69
.610
Nov
Dec
80
.20
210
5.1
5918
5.3
6141
.17
52
6.7
154
66
.821
2.0
64
66
.471
60
3.2
46
57.
719
35
.13
517
.47
24
8.1
4115
8.4
67
843
.907
25
.10
58
.60
21.
824
.68
8D
ec20
10.
6.65
410
7.06
711
3.72
144
.888
14.5
3939
1.67
22.
587
48.2
4450
1.93
058
.412
23.0
0517
.982
23.9
1112
3.31
095
1.85
424
.481
74.5
541.
789.
850
2010
.Ja
n8
0.4
45
111.
430
191.
87
52
9.4
88
25
.459
461
.66
32
.05
25
6.8
315
75
.49
35
6.8
213
4.1
08
14.9
09
47.4
54
153
.29
28
27.
96
32
5.0
815
.28
01.
77
8.9
84
Jan
Feb
80
.251
111.
63
519
1.8
86
28
.44
92
3.5
374
51.6
02
2.0
98
53
.06
055
8.7
46
56
.88
73
5.6
1812
.66
24
5.7
66
150
.93
38
39
.191
24.4
28
2.7
471.
767.
931
Feb
Mar
77.
22
811
1.32
118
8.5
49
89
.59
518
.881
39
4.2
53
2.0
82
53
.58
655
8.3
97
56
.19
83
0.1
68
10.1
62
48
.916
145
.44
48
49
.713
22
.57
53
.13
91.
767.
817
Mar
Ap
r8
3.9
09
113
.832
197.
741
92
.62
816
.35
837
1.4
50
2.1
5561
.03
45
43.6
25
54
.681
27.
078
9.0
473
4.6
1512
5.4
218
53
.861
23
.276
5.5
38
1.74
9.4
62
Ap
rM
aj8
4.5
0111
2.1
5119
6.6
52
102
.00
614
.54
541
0.0
242
.15
66
3.4
1059
2.1
415
3.6
762
8.1
70
9.9
05
35
.86
612
7.61
78
66
.25
72
2.0
73
2
.65
3
1.8
07.3
93
May
Jun
75
.89
611
2.6
45
188
.541
101.
83
414
.42
642
7.0
54
2.4
89
60
.207
60
6.0
105
0.7
6124
.78
68
.97
23
6.0
1112
0.5
30
86
8.3
212
2.0
11
2.8
95
1.
80
8.3
08
Jun
Jul
60
.84
511
5.1
62
176
.007
107.
02
018
.17
741
2.2
70
2.9
78
53
.818
594
.26
347
.89
024
.32
29
.26
03
6.4
3111
7.9
03
89
8.0
28
21.5
07
2.4
83
1.
810
.191
Jul
Avg
45
.932
118
.87
216
4.8
04
111.
593
17.9
00
46
4.7
613
.34
851
.78
56
49
.38
75
0.1
38
25
.301
10.9
40
35
.42
712
1.8
06
90
5.2
92
23
.80
0
2.5
73
1.
86
7.6
62
Aug
Sep
9.1
1611
7.3
82
126
.49
811
8.5
85
17.5
474
06
.007
3.1
54
49
.443
594
.73
65
3.4
912
5.3
85
9.3
78
35
.40
512
3.6
5991
2.3
89
22
.63
6
2.9
40
1.
78
2.8
58
Sep
Okt
6.2
4711
2.4
64
118
.711
115
.77
817
.22
74
09
.911
2.9
85
47.9
7159
3.8
72
52
.45
62
7.10
89
.72
83
4.9
25
124
.217
92
3.8
39
22
.07
33
.52
51.
78
6.2
37O
ctN
ov9
.26
410
7.4
90
116
.75
44
5.4
0715
.56
54
05
.36
32
.83
94
6.4
04
515
.57
86
0.6
182
5.1
768
.914
26
.54
812
1.2
56
93
9.8
142
3.0
69
73
.88
31.
79
0.3
54
Nov
Dec
6.6
54
107.
06
711
3.7
214
4.8
88
14.5
39
391
.67
22
.58
74
8.2
44
501
.93
05
8.4
122
3.0
05
17.9
82
23
.911
123
.310
951
.85
424
.481
74.5
54
1.7
89
.85
0D
ec20
11.
2011
.Ja
n9
.951
100
.27
011
0.2
218
0.0
83
14.6
173
88
.315
2.8
02
47.2
915
33
.10
859
.44
024
.92
316
.58
821
.941
122
.89
29
43.8
57
23
.82
874
.921
1.8
08
.82
7Ja
nFe
b2
0.0
29
94
.924
114
.95
38
0.1
73
13.7
08
38
7.8
26
2.5
69
46
.88
95
31.1
65
58
.519
24.8
6119
.45
32
3.2
22
126
.055
947
.88
52
3.5
77
74.3
70
1.81
8.0
05
Feb
Mar
8.5
94
93
.10
910
1.7
03
74.7
1813
.22
037
0.2
48
2.5
124
9.7
25
510
.42
35
6.4
05
26
.819
18.3
58
20
.88
512
2.4
67
95
3.9
22
22
.259
72
.80
31.
78
3.5
77
Mar
Ap
r21
.57
39
5.8
25
117.
39
87
2.7
48
11.2
83
36
9.0
57
2.5
0151
.224
50
6.8
144
8.6
182
3.3
3215
.212
21.0
36
108
.19
89
71.1
0721
.812
71.4
421.
79
6.7
70
Ap
r
12
3 (1
+2)
45
67
89
(4+.
.+8)
1011
1213
14
(10+
..+13
)15
1617
18
(3+
9+14
+15+
16+1
7)
Bank
sO
ther
fin
anci
al
inst
itutio
nsTo
tal
Stat
e ow
ned
com
pani
es
Publ
ic o
wne
d or
gani
zatio
ns
Priv
atel
y ow
ned
com
pani
esEn
terp
rene
urs
Fore
ign
com
pani
esTo
tal
Cent
ral
Gov
ernm
ent
Agen
cies
an
d in
stitu
tions
of
Cen
tral
G
over
nmen
t
Loca
l G
over
nmen
t-
Mun
icip
aliti
es
Gov
ernm
ent
Fund
sTo
tal
Hou
seho
lds
Non
prof
it or
gani
zatio
nsO
ther
Tota
l
Fina
ncia
l ins
itutio
nsN
onfin
anci
al in
stitu
tions
Gen
eral
Gov
ernm
ent
Ta
ble
1.9
- S
tru
ctu
re o
f d
ep
osi
ts b
y s
ec
tors
en
d-p
eri
od
ba
lan
ce, E
UR
th
ou
san
d Sour
ce: C
BM
Statistical BulletinMay 2011
41
Tabela 1.10 - Depoziti stanovništva, u 000.000 eura,
stanje na kraju perioda
I II III IV V VI VII VIII IX X XI XII
2003. 22,6 23,4 25,5 28,1 26,0 27,7 29,5 33,1 35,0 40,5 41,2 45,1
2004. 42,5 44,5 47,5 50,5 51,3 52,6 56,7 60,3 63,5 70,1 70,7 79,3
2005. 77,1 91,0 93,2 101,5 103,6 115,8 127,3 129,2 141,4 151,4 164,3 175,7
2006. 186,1 181,1 198,2 207,8 224,7 253,5 283,4 315,3 351,8 382,8 424,4 499,4
2007. 524,5 570,3 620,5 683,3 719,2 766,7 864,2 905,0 923,2 956,9 970,9 1.019,3
2008. 1.042,4 1.058,8 1.061,0 1.089,3 1.083,0 1.075,4 1.110,9 1.123,1 1.114,1 982,2 898,0 856,5
2009. 822,3 792,8 780,6 762,4 747,0 750,3 764,0 767,1 769,9 813,5 816,5 843,9
2010. 828,0 839,2 849,7 853,9 866,3 868,3 898,0 905,3 912,4 923,8 939,8 951,8
2011. 943,9 947,9 953,9 971,1
Table 1.10 - Deposits by households
end-period balance, EUR million
Izvor: CBCG Source: CBM
42Statistički biltenMaj 2011.
Tabela 1.11 - Depoziti stanovništva,
u 000.000 eura, stanje na kraju perioda
Izvor: CBCG
Depoziti
po viđenju
Oročeni depoziti
Ukupno
do
3 mjeseca
od 3 mjeseca do
godinu dana
od 1 do
3 godine
preko
3 godineUkupno
2004 40,1 5,1 29,7 4,4 0,1 39,2 79,3 2004
2005 93,5 7,6 55,0 19,4 0,3 82,3 175,8 2005
2006 294,4 25,8 114,1 64,8 0,3 205,0 499,4 2006
2007 466,0 145,6 278,4 121,4 8,0 553,4 1.019,4 2007
2008 302,5 91,0 224,5 221,8 16,5 553,8 856,3 2008
2009 266,6 163,9 305,4 93,5 14,6 577,3 843,9 2009
Jan 288,0 83,7 233,2 200,4 16,7 534,0 822,0 Jan
Feb 270,8 76,8 237,0 192,0 16,3 522,1 792,9 Feb
Mar 281,5 127,7 249,2 107,6 14,5 499,0 780,5 Mar
Apr 256,6 135,1 264,7 92,0 14,0 505,8 762,4 Apr
Maj 248,7 140,9 254,2 89,2 14,0 498,3 747,0 May
Jun 248,1 153,6 247,4 86,4 14,8 502,2 750,3 Jun
Jul 258,0 159,6 245,4 87,3 13,6 506,0 764,0 Jul
Avg 257,6 158,8 248,9 88,9 13,0 509,5 767,1 Aug
Sep 259,1 157,1 255,4 85,3 13,0 510,8 769,9 Sep
Oct 267,0 168,1 278,7 85,5 14,3 546,6 813,6 Oct
Nov 255,5 176,2 284,6 85,6 14,6 561,0 816,5 Nov
Dec 266,6 163,9 305,4 93,5 14,6 577,3 843,9 Dec
2010 314,7 135,3 371,1 112,1 18,7 637,2 951,9 2010
Jan 260,2 163,3 295,6 93,5 15,4 567,8 828,0 Jan
Feb 263,6 162,3 306,1 93,5 13,7 575,6 839,2 Feb
Mar 272,9 165,8 306,4 90,4 14,3 576,9 849,7 Mar
Apr 278,4 162,7 307,0 91,6 14,2 575,4 853,9 Apr
Maj 292,0 159,9 305,9 94,2 14,3 574,3 866,3 May
Jun 287,6 163,3 303,4 99,4 14,6 580,7 868,3 Jun
Jul 309,7 170,1 302,4 101,0 14,8 588,3 898,0 Jul
Avg 298,3 174,4 311,0 105,9 15,7 607,0 905,3 Aug
Sep 301,1 171,5 317,3 105,8 16,7 611,3 912,4 Sep
Okt 300,6 149,5 347,6 109,1 17,1 623,2 923,8 Oct
Nov 302,8 145,8 364,5 108,0 18,7 637,0 939,8 Nov
Dec 314,7 135,3 371,1 112,1 18,7 637,2 951,9 Dec
2011 2011
Jan 304,5 140,7 375,3 104,6 18,7 639,3 943,8 Jan
Feb 304,0 144,1 374,3 105,5 19,9 643,8 947,8 Feb
Mar 303,6 144,6 370,7 113,7 21,3 650,3 953,9 Mar
Apr 319,0 146,2 369,2 115,3 21,6 652,2 971,1 Apr
Demand
depositis
up to 3
months
from 3 months
to 1 year
from 1 to
3 years
over 3
yearTotal
Total
Time deposits
Table 1.11 - Deposits by households
end-period balance, EUR million
Source: CBM
Statistical BulletinMay 2011
43
Tabela 1.12 - Obavezna rezerva, u 000 eura,
stanje na kraju perioda Table 1.12 - Reserve requirements, end-period balance,
EUR thousand
Source: CBMIzvor: CBCG
I II III IV V VI VII VIII IX X XI XII
2005 32.622 34.007 34.959 37.912 42.742 43.348 46.077 53.746 53.803 55.766 59.003 61.690
2006 57.849 59.809 59.906 82.316 86.519 95.932 105.972 123.157 128.776 134.344 140.398 172.762
2007 169.969 184.781 195.796 202.110 215.408 228.316 240.726 256.366 256.476 256.399 255.910 258.997
2008 278.428 285.007 278.776 279.794 280.265 283.246 288.847 298.695 287.563 234.773 229.321 216.575
2009 196.653 198.094 202.181 165.179 171.847 180.359 161.690 158.361 168.232 170.837 172.360 172.793
2010 169.021 166.309 165.829 162.876 162.122 162.913 161.910 163.128 164.593 163.445 163.423 164.550
2011 162.696 165.735 163.968 164.488
Tabela 1.13 - Mikrokreditne finansijske institucije
u 000 eura, stanje na kraju perioda
Izvor: CBCG
Table 1.13 - Micro-credit financial institutions balance
at end-months, EUR thousand
Source: CBM
I II III IV V VI VII VIII IX X XI XII
Bilansna suma
2006 19.204 19.434 21.958 22.741 23.477 23.792 25.680 25.847 26.236 29.058 32.536 34.034 2006
Total assets
2007 35.125 36.483 42.416 42.238 47.456 46.341 46.378 48.434 48.917 50.791 53.396 54.446 2007
2008 56.130 58.764 62.034 63.011 65.335 69.432 69.258 70.719 69.973 76.645 76.935 79.124 2008
2009 78.673 77.876 76.234 77.312 78.835 77.667 77.665 76.923 75.549 75.502 74.846 75.430 2009
2010 75.121 74.323 71.305 70.459 67.678 66.058 66.300 64.729 62.290 62.105 58.602 58.732 2010
2011 57.587 55.376 51.092 52.071 2011
Krediti
2006 17.697 18.398 19.211 20.163 21.290 22.745 23.395 23.967 25.408 27.648 30.333 32.473 2006
Loans
2007 33.122 35.231 37.801 40.111 41.728 42.962 43.239 43.897 45.317 47.883 50.447 52.901 2007
2008 53.785 56.007 58.163 60.830 62.719 65.782 66.669 67.411 68.990 71.928 74.002 75.822 2008
2009 75.095 75.313 74.630 74.106 73.118 72.320 71.008 69.206 68.661 67.863 66.915 65.834 2009
2010 63.583 61.771 60.137 58.435 56.359 54.342 51.951 49.551 47.918 46.168 44.519 43.485 2010
2011 41.702 40.377 39.513 38.686 2011
44Statistički biltenMaj 2011.
Tabela 1.14 - Prosječna ponderisana aktivna kamatna stopa banaka, u %, na godišnjem nivou
* PPNS - Prosječne ponderisane nominalne kamatne stope ** PPES - Prosječne ponderisane efektivne kamatne stope*** Od janura 2008. godine dat je prikaz kamatnih stopa po novoj metodologiji. Radi uporedivosti, dajemo prikaz kamatnih stopa za decembar 2007. i po staroj i po novoj metodologiji. Po staroj metodologiji, u obračun kamatnih stopa su bili uključeni krediti od i iznad 3.000 eura, dok su, po novoj metodologiji, u obračun uključeni svi krediti.Izvor: CBCG
2005 2006 2007 2008 2009
XII XII III VI IX XII XII*** III VI IX XII III VI IX XII
I KAMATNE STOPE PO KLJUCNIM SEKTORIMA
1. Krediti državnom sektoru*PPNS: 8,70 7,41 7,23 7,29 7,03 7,14 7,14 7,01 7,06 7,20 7,37 7,28 7,70 7,82 8,32
**PPES: 10,41 7,56 7,57 7,59 7,24 7,38 7,38 7,26 7,37 7,86 10,02 7,48 8,23 8,74 8,72
2. Krediti privatnom sektoruPPNS: 11,24 9,25 8,74 8,42 8,52 8,42 8,59 8,45 8,53 8,64 8,86 8,81 8,75 8,79 8,91
PPES: 12,46 10,23 9,55 9,18 9,13 9,15 9,36 9,24 9,30 9,38 9,40 9,37 9,45 9,46 9,45
3. Krediti stranom sektoruPPNS: 11,04 7,34 3,68 5,27 7,35 6,99 7,00 7,22 7,80 8,01 8,28 8,15 7,69 7,26 6,82
PPES: 14,63 5,42 3,37 8,16 8,10 8,85 8,86 7,83 8,36 8,19 8,51 8,40 8,17 7,62 7,18
II KAMATNE STOPE PO DJELATNOSTIMA
1. Poljoprivreda, lov, ribolovPPNS: 7,49 6,52 6,58 6,82 7,09 6,92 6,93 7,03 7,26 7,42 6,92 7,11 6,05 5,94 6,98
PPES: 7,62 6,88 6,89 7,17 7,42 7,25 7,27 7,36 7,64 8,00 7,70 7,65 6,62 6,63 6,47
2. RudarstvoPPNS: 11,71 7,81 8,30 7,91 7,75 7,47 7,47 7,50 7,61 7,65 7,77 7,91 8,38 8,89 9,13
PPES: 12,81 7,29 8,09 8,21 7,87 8,32 8,32 7,78 7,97 7,98 8,26 9,50 9,07 9,88 9,77
3. ProizvodnjaPPNS: 10,68 8,25 7,70 7,11 7,43 7,71 7,71 7,83 7,93 7,90 8,22 8,33 8,18 8,17 8,25
PPES: 11,70 8,89 8,45 7,92 7,99 8,49 8,49 8,49 8,53 8,51 8,72 8,67 8,64 8,79 8,69
4. EnergetikaPPNS: 10,45 8,27 7,58 7,92 7,40 7,02 7,02 7,24 7,33 7,17 7,49 7,54 8,32 8,57 8,69
PPES: 14,17 8,90 8,16 8,43 8,22 7,65 7,65 8,02 7,96 7,81 8,36 8,36 9,15 9,31 9,48
5. GrađevinarstvoPPNS: 11,97 8,33 7,85 7,45 7,72 7,74 7,74 7,91 7,97 8,06 8,17 8,13 8,39 8,49 8,74
PPES: 12,72 9,06 9,42 8,32 8,36 8,69 8,69 8,52 8,58 8,67 8,46 8,26 8,86 8,73 8,97
6. TrgovinaPPNS: 11,04 8,57 7,79 7,78 7,79 7,66 7,66 7,68 7,72 7,82 7,96 8,26 8,25 8,29 8,70
PPES: 12,24 9,53 8,44 8,32 8,31 8,06 8,06 8,31 8,32 8,33 8,34 8,76 8,88 8,91 9,25
7. Usluge,turizam,ugostiteljstvoPPNS: 9,78 7,57 7,73 7,28 8,34 8,34 8,34 7,96 7,93 8,02 8,12 7,75 7,69 7,70 7,73
PPES: 11,06 8,55 7,90 7,84 8,43 9,39 9,39 8,41 8,45 8,53 8,55 8,31 8,33 8,41 8,17
8. Transport,skladištenje,pttPPNS: 9,78 8,52 8,03 8,00 7,97 7,73 7,73 7,75 7,95 8,07 8,34 8,25 8,28 8,37 8,29
PPES: 10,81 9,37 8,78 8,63 8,44 8,37 8,37 8,31 8,49 8,80 8,84 8,63 8,86 8,83 8,63
9. FinansijePPNS: 5,85 7,12 6,68 5,91 6,92 7,19 7,19 7,33 7,20 8,20 8,23 8,00 7,81 7,91 7,78
PPES: 6,11 7,85 7,15 7,47 7,22 8,21 8,21 7,76 7,68 8,71 8,60 8,24 8,78 7,98 8,20
10. Trgovina nekretninamaPPNS: 11,74 8,42 7,83 7,44 7,72 7,74 7,74 7,79 7,96 8,04 8,23 7,77 7,33 7,47 7,48
PPES: 13,04 9,51 8,46 8,49 8,35 8,72 8,72 8,40 8,58 8,69 8,67 8,09 8,12 8,21 7,84
11. Administr. i dr. javne uslugePPNS: 9,28 7,97 7,58 7,31 7,46 7,48 7,49 7,69 7,93 8,20 8,41 8,35 8,25 8,37 8,59
PPES: 11,05 8,51 8,23 7,78 7,63 7,79 7,80 7,87 8,26 8,60 11,23 8,66 8,80 9,30 9,01
12. OstaloPPNS: 10,24 7,27 7,53 4,77 6,81 7,30 7,30 6,44 7,05 7,22 7,36 8,01 7,38 6,80 6,25
PPES: 10,81 4,78 5,32 7,23 7,45 9,61 9,61 6,95 7,44 7,15 7,28 7,84 7,71 6,98 6,61
Prosječno-ponderisane kamatne stope za pravna lica:
PPNS: 10,42 8,21 7,73 7,46 7,71 7,69 7,69 7,70 7,80 7,92 8,09 8,10 8,01 8,06 8,24
PPES: 11,67 9,01 8,38 8,17 8,18 8,43 8,43 8,28 8,37 8,46 8,58 8,50 8,63 8,65 8,66
III KREDITI FIZIČKIM LICIMA
1. ZaposleniPPNS: 7,21 6,82 6,72 6,76 6,74 6,84 6,87 6,65 6,71 6,70 6,80 6,33 6,22 6,15 5,88
PPES: 7,28 7,02 6,86 6,85 6,96 7,01 7,05 6,92 6,94 6,89 6,91 6,52 6,41 6,40 6,05
2. RezidentiPPNS: 12,70 11,22 10,48 10,19 10,03 9,84 10,16 9,65 9,74 9,81 10,11 9,97 9,97 10,00 10,00
PPES: 14,56 12,35 11,49 11,05 10,92 10,62 11,04 10,83 10,83 10,90 10,89 10,77 10,79 10,83 10,74
3. NerezidentiPPNS: 9,25 9,66 9,31 9,52 8,64 6,07 6,10 9,50 9,23 9,52 10,11 8,47 8,11 8,14 8,36
PPES: 9,40 10,69 10,01 9,94 9,05 6,52 6,57 10,36 10,07 10,23 10,72 9,46 9,08 9,14 8,70
4. Kreditne karticePPNS: - 12,00 13,66 13,63 -
PPES: - 12,00 13,66 13,63 -
Prosječne- ponderisane kamatne stope za fizička lica:
PPNS: 12,45 11,06 10,36 10,10 9,93 9,68 10,00 9,57 9,65 9,72 10,01 9,84 9,82 9,83 9,82
PPES: 14,23 12,16 11,34 10,93 10,80 10,44 10,86 10,73 10,72 10,78 10,76 10,62 10,62 10,64 10,53
IV. PROSJEČNE-PONDERISANE AKTIVNE KAMATNE STOPE:
PPNS: 10,76 9,06 8,56 8,33 8,43 8,34 8,51 8,38 8,47 8,58 8,81 8,76 8,69 8,73 8,85
PPES: 12,11 9,94 9,31 9,07 9,03 9,09 9,29 9,16 9,23 9,31 9,40 9,30 9,38 9,40 9,38
Statistical BulletinMay 2011
45
WALNIR* Weighted average lending nominal interest ratesWALEIR** Weighted average lending effective interest rates
***As of January 2008, interest rates have been presented in accordance with the new methodology. For the purpose of comparison, we are presenting data on interest rates in December 2007 in accordance with both the old and the new methodology. The old methodology
covered interest rates on loans of EUR 3,000 and higher, whereas the new methodology covers all extended loans.Source: CBM
Table 1.14 - Weighted average lending interest rates, in %, annually
2010 2011
I II III IV V VI VII VIII IX X XI XII I II III IV
I. INTEREST RATES BY MAIN SECTORS
8,18 8,34 8,37 8,54 8,41 8,57 8,55 8,37 8,35 8,32 8,34 8,46 8,34 8,37 8,41 8,37 WALNIR* 1. Loans to government sector
8,79 8,88 8,90 9,06 8,91 9,08 9,15 8,88 8,86 8,80 8,88 8,91 8,75 8,80 8,83 8,83 WALEIR**
8,91 8,92 8,93 8,89 8,93 8,96 9,02 9,02 9,04 9,05 9,03 9,04 9,03 9,03 9,09 9,12 WALNIR 2. Loans to private sector
9,50 9,53 9,52 9,50 9,54 9,57 9,63 9,66 9,67 9,66 9,64 9,70 9,69 9,70 9,76 9,77 WALEIR
6,83 6,81 7,01 7,24 7,69 7,66 7,70 7,48 7,63 7,69 7,81 7,83 7,87 8,06 8,06 8,09 WALNIR 3. Loans to foreing sector
7,32 7,35 7,65 8,01 8,02 7,96 8,13 8,30 8,37 8,23 8,33 8,34 8,04 8,74 8,74 8,74 WALEIR
II. INTEREST RATES BY ACTIVITIES
6,08 6,75 6,77 6,81 6,78 6,84 6,97 6,95 7,07 6,66 6,71 6,78 6,79 6,86 6,98 6,84 WALNIR 1. Agriculture, hunting, fishing
7,00 7,19 7,21 7,24 7,18 7,24 7,49 7,43 7,51 7,27 7,72 7,06 7,18 7,27 7,39 7,26 WALEIR
9,22 9,35 9,32 9,31 9,31 9,34 9,35 9,29 9,23 9,26 9,21 9,23 9,20 9,21 9,73 9,71 WALNIR 2. Mining industry
9,79 9,93 9,67 9,64 9,62 9,63 9,63 9,54 9,51 9,65 9,69 9,71 9,63 9,81 10,18 10,17 WALEIR
8,29 8,06 8,18 8,22 8,21 7,99 7,96 7,96 8,23 7,96 8,15 7,91 7,92 7,95 8,24 8,31 WALNIR 3. Production
8,70 8,62 8,56 8,63 8,58 8,58 8,58 8,57 8,61 8,54 8,52 8,51 8,55 8,59 8,70 8,78 WALEIR
8,66 8,68 8,87 8,91 8,94 8,95 8,41 8,34 8,28 8,25 8,30 8,34 8,30 8,27 8,15 8,15 WALNIR 4. Energetic
9,46 9,47 9,71 9,74 9,78 9,68 9,03 8,94 8,84 8,81 8,89 8,82 8,78 8,75 8,61 8,62 WALEIR
8,77 8,80 8,77 8,69 8,92 8,89 8,90 8,96 8,85 8,90 8,91 8,90 8,86 8,87 8,98 9,01 WALNIR 5. Construction
9,02 9,03 9,00 8,91 9,20 9,21 9,26 9,34 9,28 9,31 9,32 9,75 9,66 9,66 9,85 9,70 WALEIR
8,67 8,69 8,64 8,66 8,68 8,80 8,82 8,77 8,76 8,77 8,70 8,77 8,76 8,79 8,84 8,85 WALNIR 6. Trade
9,27 9,32 9,19 9,29 9,27 9,35 9,38 9,37 9,39 9,34 9,28 9,42 9,42 9,48 9,52 9,55 WALEIR
7,72 7,79 7,79 7,71 7,83 7,96 8,02 7,84 7,89 8,05 8,10 7,96 7,94 7,95 7,79 7,94 WALNIR 7. Services, tourism, catering
8,12 8,20 8,26 8,14 8,27 8,46 8,64 8,50 8,41 8,45 8,22 8,35 8,38 8,37 8,37 8,47 WALEIR
8,19 8,19 8,26 8,20 8,24 8,40 8,38 8,33 8,32 8,38 8,38 8,46 8,44 8,45 8,47 8,49 WALNIR 8. Transportation, storage,
postal services8,59 8,56 8,62 8,58 8,64 8,83 8,86 8,79 8,73 8,78 8,92 8,89 8,86 8,88 8,90 8,91 WALEIR
7,77 7,76 7,75 7,66 7,76 8,07 7,79 7,79 7,75 7,79 7,94 7,96 7,96 7,97 7,71 7,73 WALNIR 9. Finance
8,41 8,40 8,38 8,36 8,45 8,83 8,20 8,21 8,21 8,26 8,50 8,47 8,47 8,48 8,21 8,31 WALEIR
7,60 7,73 7,73 7,35 7,48 7,66 8,14 8,29 8,32 8,40 8,41 8,64 8,63 8,70 8,63 8,67 WALNIR10. Real estate trade
8,09 8,23 8,27 7,95 8,09 8,24 8,68 8,84 8,87 8,94 8,98 9,04 9,03 9,03 9,03 9,05 WALEIR
8,64 8,57 8,61 8,62 8,77 8,80 8,83 8,83 8,86 8,86 8,82 8,91 8,75 8,81 9,00 9,00 WALNIR11. Administration and public services
9,16 9,09 9,24 9,27 9,37 9,41 9,61 9,51 9,51 9,52 9,50 9,61 9,43 9,52 9,69 9,72 WALEIR
6,32 6,41 6,74 7,10 7,68 7,63 7,57 7,30 7,48 7,57 7,68 7,46 7,82 8,07 8,11 8,07 WALNIR12. Other
6,89 7,14 7,50 8,01 8,03 7,97 8,03 8,25 8,31 8,17 8,26 8,23 7,98 8,83 8,88 8,80 WALEIR
8,26 8,28 8,30 8,23 8,32 8,38 8,47 8,46 8,49 8,50 8,50 8,53 8,52 8,55 8,62 8,64 WALNIR Weighted average interest rates for legal entities:8,75 8,80 8,78 8,76 8,82 8,90 9,00 9,02 9,03 9,02 9,02 9,12 9,09 9,15 9,21 9,22 WALEIR
III LOANS TO HOUSE HOLDS
5,57 5,52 5,52 5,56 5,54 5,49 5,46 5,38 5,35 5,37 5,43 5,49 5,48 5,45 5,46 5,46 WALNIR 1.Employees
6,01 6,01 5,98 5,95 5,91 5,82 5,83 5,78 5,75 5,77 5,72 5,78 5,78 5,75 5,74 5,75 WALEIR
9,97 9,97 9,98 10,00 10,00 9,99 9,98 9,96 9,97 9,98 9,94 9,92 9,91 9,88 9,86 9,86 WALNIR 2. Residents
10,72 10,72 10,74 10,75 10,76 10,76 10,74 10,75 10,77 10,76 10,72 10,69 10,68 70,64 10,61 10,61 WALEIR
8,34 8,32 8,28 8,26 8,31 8,27 8,45 8,47 8,46 8,47 8,50 8,47 8,39 8,37 8,35 8,57 WALNIR 3. Non-residents
8,66 8,63 8,59 8,57 8,64 8,49 8,75 8,77 8,78 8,75 8,78 8,75 8,65 8,64 8,62 8,85 WALEIR
WALNIR 4. Credit cards
WALEIR
9,77 9,76 9,77 9,79 9,79 9,77 9,76 9,73 9,74 9,75 9,71 9,69 9,67 9,64 9,62 9,62 WALNIR Weighted average lending interest rates for households:10,50 10,50 10,51 10,52 10,52 10,51 10,49 10,50 10,51 10,50 10,45 10,43 10,41 10,37 10,35 10,34 WALEIR
8,85 8,86 8,87 8,84 8,89 8,91 8,96 8,95 8,97 8,98 8,97 8,98 8,97 8,98 9,02 9,04 WALNIR IV WEIGHTED AVERAGE LENDING INTEREST RATE9,44 9,46 9,46 9,45 9,48 9,52 9,57 9,59 9,60 9,59 9,57 9,63 9,61 9,63 9,67 9,68 WALEIR
46Statistički biltenMaj 2011.
Ta
be
la 1
.15
- P
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ečn
a p
on
de
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na
pa
siv
na
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ma
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pa
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, u %
, na
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m n
ivo
u
Ta
ble
1.1
5 -
We
igh
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av
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ge
de
po
sit
inte
rest
ra
tes,
in %
, an
nu
all
y
PPPN
S*
Pros
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e pa
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e no
min
alne
kam
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stop
e PP
PES*
* P
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pon
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ane
pasi
vne
efek
tivne
kam
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stop
e Iz
vor:
CBCG
WAD
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* W
eigh
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aver
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depo
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tere
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EIR*
* W
eigh
ted
aver
age
depo
sit e
ffect
ive
inte
rest
rate
s So
urce
: CBM
2007
2008
2009
2010
2011
XII
XII
III
IIIIV
VVI
VII
VIII
IXX
XIXI
II
IIIII
IVV
VIVI
IVI
IIIX
XXI
XII
III
IIIIV
Pros
ječn
o po
nder
isan
e ka
mat
ne s
tope
za
prav
na li
ca:
PPPN
S:3
,47
3,9
64
,15
3,9
43
,68
3,4
93
,37
3,3
33
,08
3,1
12
,74
3,1
53
,27
3,3
23
,41
3,4
23
,46
3,4
53
,33
3,3
33
,18
2,9
03
,08
3,1
02
,96
2,7
82
,66
2,7
12
,68
2
,58
W
AD
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Wei
ghte
d av
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t int
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t rat
es
for l
egal
ent
ities
:PP
PES:
3,3
63
,95
4,1
53
,86
3,6
63
,47
3,3
73
,33
3,0
83
,11
2,7
43
,15
3,2
73
,32
3,4
13
,42
3,4
73
,46
3,3
43
,34
3,1
92
,90
3,0
83
,10
2,9
72
,78
2,6
62
,71
2,7
2
2,5
8
WA
DEI
R
Pros
ječn
e po
nder
isan
e ka
mat
ne s
tope
za
fizič
ka
lica:
PPPN
S:3
,49
4,3
14
,41
4,3
94
,11
4,3
34
,27
4,4
34
,35
4,4
54
,37
4,4
34
,49
4,5
04
,49
4,5
24
,53
4,5
44
,47
4,4
74
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3,9
93
,94
3,9
23
,73
3,6
93
,70
3,6
93
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3
,42
W
AD
NIR
Wei
ghte
d av
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e de
posi
t int
eres
t rat
es
for h
ouse
hold
s:PP
PES:
3,3
54
,30
4,4
14
,39
4,1
14
,33
4,2
74
,43
4,3
54
,45
4,3
74
,43
4,4
94
,50
4,4
94
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4,5
34
,54
4,4
74
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4,2
53
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3,9
43
,92
3,7
33
,69
3,7
03
,69
3,6
8
3,4
2
WA
DEI
R
PRO
SJEČ
NE
PON
DER
ISA
NE
PASI
VNE
KAM
ATN
E ST
OPE
:
PPPN
S:3
,48
4,1
14
,27
4,1
43
,86
3,8
63
,75
3,8
03
,64
3,7
03
,40
3,7
23
,80
3,8
73
,91
3,9
43
,97
3,9
93
,88
3,8
83
,71
3,4
33
,52
3,5
23
,36
3,2
63
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3,2
23
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3
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W
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TED
AVE
RAG
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TES
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S:3
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4,1
04
,27
4,1
03
,85
3,8
53
,75
3,8
03
,64
3,7
03
,40
3,7
23
,80
3,8
73
,91
3,9
43
,98
3,9
93
,88
3,8
83
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3,4
33
,52
3,5
23
,37
3,2
63
,20
3,2
23
,23
3
,04
W
AD
EIR
Statistical BulletinMay 2011
47
II Tržište novca i tržište kapitala
Aukcije državnih zapisa Datum Emitovano Prodato Ukupna tražnja Ponderisana stopa
I Aukcija na 28 dana 06.09.2001. 2,556.4 2,556.4 3,364.3 6.50 I Auction of 28-day
II Aukcija na 28 dana 02.10.2001. 3,579.0 2,668.9 2,688.9 6.89 II Auction of 28-day
III Aukcija na 28 dana 01.11.2001. 3,579.0 3,093.3 3,039.3 6.83 III Auction of 28-day
IV Aukcija na 28 dana 29.11.2001. 3,579.0 3,579.0 4,714.1 7.31 IV Auction of 28-day
V Aukcija na 28 dana 27.12.2001. 3,579.0 3,579.0 4,049.4 7.14 V Auction of 28-day
Issue date Issued Sold Total demand
Average weighted
interest rate (annual%)
Auction of treasury bills
Ukupno - septembar - decembar 2001. godine Total - September- December 2001
5 aukcija 16,872.4 15,476.6 17,856.0 5 Auction
Tabela 2.1 - Pregled održanih aukcija u 2001. godini,
u 000 eura
Table 2.1 - Auction of treasury bills in 2001,
in EUR thousand
II Money Market and Capital Market
Izvor: CBCG Source: CBM
48Statistički biltenMaj 2011.
Aukcije državnih zapisa Datum Emitovano Prodato Ukupna tražnjaPonderisana
stopa
Januar January
VI Aukcija na 28 dana 24.01.2002. 2,500.0 2,500.0 2,794.0 7.05 VI Auction of 28-day
Februar February
I Aukcija na 56 dana 06.02.2002. 2,000.0 0.0 0.0 0.00 I Auction of 56-day
VII Aukcija na 28 dana 21.02.2002. 2,500.0 2,500.0 4,259.5 7.05 VII Auction of 28-day
Mart March
II Aukcija na 56 dana 07.03.2002. 3,000.0 1,085.0 1,085.0 7.50 II Auction of 56-day
VIII Aukcija na 28 dana 21.03.2002. 2,500.0 2,500.0 3,069.5 7.02 VIII Auction of 28-day
April April
IX Aukcija na 28 dana 18.04.2002. 2,500.0 2,500.0 3,500.0 7.02 IX Auction of 28-day
Maj May
III Aukcija na 56 dana 02.05.2002. 2,000.0 800.0 800.0 6.88 III Auction of 56-day
X Aukcija na 28 dana 16.05.2002. 2,500.0 2,500.0 2,864.0 6.99 X Auction of 28-day
IVAukcija na 56 dana 30.05.2002. 2,000.0 1,500.0 1,500.0 7.00 IV Auction of 56-day
Jun June
XI Aukcija na 28 dana 13.06.2002. 2,500.0 2,500.0 2,769.5 6.92 XI Auction of 28-day
V Aukcija na 56 dana 27.06.2002. 1,000.0 560.0 560.0 6.61 V Auction of 56-day
Jul July
XII Aukcija na 28 dana 11.07.2002. 3,000.0 2,869.5 2,869.5 7.13 XII Auction of 28-day
VI Aukcija na 56 dana 25.07.2002. 2,000.0 2,000.0 3,120.0 7.72 VI Auction of 56-day
Avgust August
XIII Aukcija na 28 dana 08.08.2002. 3,500.0 2,904.5 2,904.5 7.37 XIII Auction of 28-day
VII Aukcija na 56 dana 22.08.2002. 2,500.0 1,560.0 1,560.0 7.80 VII Auction of 56-day
Septembar September
XIV Aukcija na 28 dana 05.09.2002. 3,500.0 3,492.0 3,492.0 7.53 XIV Auction of 28-day
VIII Aukcija na 56 dana 19.09.2002. 3,000.0 1,386.5 1,386.0 7.82 VIII Auction of 56-day
Oktobar October
XV Aukcija na 28 dana 03.10.2002. 4,000.0 2,792.0 2,792.0 7.36 XV Auction of 28-day
IX Aukcija na 56 dana 16.10.2002. 3,000.0 1,750.0 1,750.0 7.96 IX Auction of 56-day
XVI Aukcija na 28 dana 31.10.2002. 6,000.0 4,467.0 4,467.0 7.41 XVI Auction of 28-day
Novembar November
X Aukcija na 56 dana 14.11.2002. 3,000.0 1,670.0 1,670.0 8.04 X Auction of 56-day
XVII Aukcija na 28 dana 28.11.2002. 6,000.0 5,077.0 5,077.0 7.79 XVII Auction of 28-day
Decembar December
XI Aukcija na 56 dana 12.12.2002. 3,500.0 2,350.0 2,350.0 8.13 XI Auction of 56-day
XVIII Aukcija na 28 dana 26.12.2002. 6,600.0 5,774.0 5,774.0 8.14 XVIII Auction of 28-day
Issue date Issued Sold Total demand
Average weighted
interest rate (annual%)
Auction of treasury bills
Ukupno - januar-decembar 2002. godine Total - January-December 2002.
24 aukcije 74,600.00 57,037.50 62,413.50 24 auctions
Tabela 2.2 - Pregled održanih aukcija u 2002. godini,
u 000 eura
Table 2.2 - Auction of treasury bills in 2002,
in EUR thousand
Izvor: CBCG Source: CBM
Statistical BulletinMay 2011
49
Aukcije državnih zapisa Datum Emitovano ProdatoUkupna tražnja
Ponderisana stopa
Januar January
XII Aukcija na 56 dana 08.01.2003. 3,000.0 1,670.0 1,670.0 8,13 XII Auction of 56-day
XIX Aukcija na 28 dana 22.01.2003. 7,000.0 5,912.0 5,912.0 7,99 XIX Auction of 28-day
Februar February
XIII Aukcija na 56 dana 05.02.2003. 3,000.0 2,250.0 2,250.0 8,38 XIII Auction of 56-day
XX Aukcija na 28 dana 19.02.2003. 6,500.0 5,762.0 5,762.0 8,49 XX Auction of 28-day
Mart March
XIV Aukcija na 56 dana 05.03.2003. 4,500.0 1,320.0 1,320.0 9,13 XIV Auction of 56-day
XXI Aukcija na 28 dana 19.03.2003. 7,000.0 6,065.0 6,065.0 8,94 XXI Auction of 28-day
April April
XV Aukcija na 56 dana 02.04.2003. 4,000.0 2,866.0 2,866.0 10,05 XV Auction of 56-day
XXII Aukcija na 28 dana 16.04.2003. 7,500.0 7,028.0 7,028.0 10,17 XXII Auction of 28-day
XVI Aukcija na 56 dana 29.04.2003. 3,000.0 2,100.0 2,100.0 10,06 XVI Auction of 56-day
Maj May
XXIII Aukcija na 28 dana 14.05.2003. 8,000.0 6,949.0 6,949.0 10,45 XXIII Auction of 28-day
XVII Aukcija na 56 dana 28.05.2003. 3,000.0 2,876.0 2,876.0 10,76 XVII Auction of 56-day
Jun June
XXIV Aukcija na 28 dana 11.06.2003. 7,500.0 6,674.0 6,674.0 10,75 XXIV Auction of 28-day
XVIII Aukcija na 56 dana 25.06.2003. 2,500.0 2,143.0 2,143.0 11,51 XVIII Auction of 56-day
Jul July
XXV Aukcija na 28 dana 09.07.2003. 7,000.0 6,682.0 6,682.0 10,71 XXV Auction of 28-day
XIX Aukcija na 56 dana 23.07.2003. 4,500.0 3,826.0 3,826.0 11,24 XIX Auction of 56-day
Avgust August
XXVI Aukcija na 28 dana 06.08.2003. 7,000.0 7,000.0 8,285.0 10,83 XXVI Auction of 28-day
XX Aukcija na 56 dana 20.08.2003. 3,000.0 3,000.0 3,443.5 11,12 XX Auction of 56-day
Septembar September
XXVII Aukcija na 28 dana 03.09.2003 8,000.0 8,000.0 8,832.0 10,76 XXVII Auction of 28-day
XXI Aukcija na 56 dana 18.09.2003. 4,500.0 4,500.0 5,340.0 10,63 XXI Auction of 56-day
Oktobar October
XXVIII Aukcija na 28 dana 02.10.2003 8,500.0 8,500.0 8,847.0 10,57 XXVIII Auction of 28-day
XXIII Aukcija na 56 dana 15.10.2003.. 4,000.0 3,235.5 3,235.5 10,45 XXII Auction of 56-day
XXIX Aukcija na 28 dana 30.10.2003. 9,500.0 9,500.0 10,760.0 10,25 XXIX Auction of 28-day
Novembar November
XXIII Aukcija na 56 dana 13.11.2003. 5,500.0 4,982.0 4,982.0 10,03 XXIII Auction of 56-day
XXX Aukcija na 28 dana 26.11.2003.. 12,000.0 10,629.0 10,629.0 10,01 XXX Auction of 28-day
Decembar December
XXIV Aukcija na 56 dana 11.12.2003. 4,000.0 2,743.5 2,743.5 10,13 XXIV Auction of 56-day
XXXI Aukcija na 28 dana 24.12.2003. 13,000.0 12,008.0 12,008.0 10,08 XXXI Auction of 28-day
Issue date Issued Sold Total demandAverage weighted
interest rate (annual%)
Auction of treasury bills
Ukupno - januar-decembar 2003. godine Total - January-December 2003.
26 aukcija 157,000 138,221 143,229 26 auctions
Tabela 2.3 - Pregled održanih aukcija u 2003. godini,
u 000 eura
Table 2.3 - Auction of treasury bills in 2003,
in EUR thousand
Izvor: CBCG Source: CBM
50Statistički biltenMaj 2011.
Aukcije državnih zapisa Datum Emitovano ProdatoUkupna tražnja
Ponderisana stopa
Januar January
XXV Aukcija na 56 dana 13.01.2004. 5,500.0 3,788.0 3,788.0 10.22 XXV Auction of 56-day
XXXII Aukcija na 28 dana 22.01.2004. 12,000.0 12,000.0 12,162.0 10.10 XXXII Auction of 28-day
Februar February
XXVI Aukcija na 56 dana 05.02.2004. 4,500.0 3,403.5 3,403.5 10.48 XXVI Auction of 56-day
XXXIII Aukcija na 28 dana 19.02.2004. 12,500.0 11,225.0 11,225.0 10.71 XXXIII Auction of 28-day
Mart March
XXVII Aukcija na 56 dana 04.03.2004. 4,500.0 2,568.0 2,568.0 10.80 XXVII Auction of 56-day
XXXIV Aukcija na 28 dana 18.03.2004. 12,000.0 11,647.0 11,647.0 10.72 XXXIV Auction of 28-day
April April
XXVIII Aukcija na 56 dana 01.04.2004. 4,000.0 3,095.5 3,095.5 10.63 XXVIII Auction of 56-day
XXXV Aukcija na 28 dana 15.04.2004. 17,000.0 15,027.0 15,027.0 10.73 XXXV Auction of 28-day
XXIX Aukcija na 56 dana 29.04.2004. 3,000.0 2,873.5 2,873.5 10.82 XXIX Auction of 56-day
Maj May
XXXVI Aukcija na 28 dana 13.05.2004. 16,000.0 15,840.5 15,840.5 10.49 XXXVI Auction of 28-day
XXX Aukcija na 56 dana 27.05.2004. 4,000.0 4,000.0 4,197.5 10.57 XXX Auction of 56-day
Jun June
XXXVII Aukcija na 28 dana 10.06.2004. 15,000.0 15,000.0 15,555.5 10.45 XXXVII Auction of 28-day
XXXI Aukcija na 56 dana 24.06.2004. 4,000.0 4,000.0 4,000.0 10.19 XXXI Auction of 56-day
I Aukcija na 91 dana 25.06.2004. 2,000.0 2,000.0 2,000.0 10.90 I Auction of 91-day
Jul July
II Aukcija na 91 dana 01.07.2004. 2,000.0 2,000.0 2,115.0 10.97 II Auction of 91-day
XXXVIII Aukcija na 28 dana 08.07.2004. 15,500.0 15,132.0 15,132.0 10.48 XXXVIII Auction of 28-day
I Aukcija na 182 dana 16.07.2004. 3,500.0 3,500.0 3,500.0 10.80 I Auction of 182-day
XXXII Aukcija na 56 dana 22.07.2004. 4,500.0 4,499.0 4,499.0 10.41 XXXII Auction of 56-day
Avgust August
XXXIX Aukcija na 28 dana 05.08.2004. 16,000.0 16,000.0 16,559.0 10.45 XXXIX Auction of 28-day
XXXIII Aukcija na 56 dana 19.08.2004. 5,000.0 5,000.0 7,152.5 9.98 XXXIII Auction of 56-day
Septembar September
XL Aukcija na 28 dana 02.09.2004. 16,100.0 16,100.0 18,812.5 9.92 XL Auction of 28-day
XXXIV Aukcija na 56 dana 16.09.2004. 5,500.0 5,500.0 5,524.0 9.78 XXXIV Auction of 56-day
III Aukcija na 91 dana 24.09.2004. 2,100.0 2,000.0 2,000.0 10.90 III Auction of 91-day
XLI Aukcija na 28 dana 30.09.2004. 13,500.0 12,962.0 12,962.0 9.59 XLI Auction of 28-day
IV Aukcija na 91 dana 30.09.2004. 5,000.0 5,000.0 9,128.0 9.80 IV Auction of 91-day
Oktobar October
XXXV Aukcija na 56 dana 14.10.2004. 5,000.0 5,000.0 7,744.0 8.94 XXXV Auction of 56-day
XLII Aukcija na 28 dana 28.10.2004. 13,000.0 12,556.5 12,556.5 9.38 XLII Auction of 28-day
Novembar November
XXXVI Aukcija na 56 dana 11.11.2004. 5,500.0 5,500.0 7,407.0 8.78 XXXVI Auction of 56-day
II Aukcija na 182 dana 17.11.2004. 2,000.0 0.0 0.0 0.00 II Auction of 182-day
XLIII Aukcija na 28 dana 25.11.2004. 10,556.5 10,556.5 11,138.0 8.92 XLIII Auction of 28-day
III Aukcija na 182 dana 25.11.2004. 2,000.0 2,000.0 2,500.0 10.15 III Auction of 182-day
Decembar December
IV Aukcija na 182 dana 02.12.2004. 2,000.0 2,000.0 2,500.0 9.00 IV Auction of 182-day
XXXVII Aukcija na 56 dana 08.12.2004. 5,200.0 4,622.0 4,622.0 8.62 XXXVII Auction of 56-day
XLIV Aukcija na 28 dana 23.12.2004. 10,700.0 10,623.0 10,623.0 8.83 XLIV Auction of 28-day
V Aukcija na 91 dana 23.12.2004. 2,000.0 2,000.0 2,225.0 10.66 V Auction of 91-day
VI Aukcija na 91 dana 29.12.2004. 4,000.0 2,035.0 2,035.0 9.50 VI Auction of 91-day
VII Aukcija na 91 dana 30.12.2004. 5,100.0 5,100.0 5,100.5 9.70 VII Auction of 91-day
VIII Aukcija na 91 dana 31.12.2004. 2,000.0 0.0 0.0 0.00 VIII Auction of 91-day
Issue date Issued Sold Total demand
Average weighted
interest rate (annual%)
Auction of treasury bills
Ukupno - januar-decembar 2004. godine Total - January-December 2004.
38 aukcija 273,756.5 256,154.0 273,218.0 38 auction
Tabela 2.4 - Pregled održanih aukcija u 2004. godini,
u 000 eura
Table 2.4 - Auction of treasury bills in 2004,
in EUR thousand
Izvor: CBCG Source: CBM
Statistical BulletinMay 2011
51
Aukcije državnih zapisa Datum Emitovano ProdatoUkupna tražnja
Ponderisana stopa
Januar January
XXXVIII Aukcija na 56 dana 12.01.2005. 5,600.0 5,600.0 5,632.0 8.78 XXXVIII Auction of 56-day
V Aukcija na 182dana 13.01.2005. 3,600.0 3,517.0 3,517.0 9.88 V Auction of 182-day
XLV Aukcija na 28 dana 20.01.2005. 8,700.0 8,273.0 8,273.0 8.89 XLIV Auction of 28-day
IX Aukcija na 91 dan 20.01.2005. 2,000.0 2,000.0 2,000.0 8.65 IX Auction of 91-day
Februar February
XXXIX Aukcija na 56 dana 03.02.2005. 5,000.0 4,725.0 4,725.0 8.95 XXXIX Auction of 56-day
XLVI Aukcija na 28 dana 17.02.2005. 8,500.0 8,500.0 9,267.0 9.00 XLV Auction of 28-day
VI Aukcija na 182dana 24.02.2005. 3,000.0 3,000.0 3,260.0 8.95 VI Auction of 182-day
Mart March
XL Aukcija na 56 dana 09.03.2005. 6,000.0 6,000.0 6,476.0 9.35 XL Auction of 56-day
VII Aukcija na 182 dana 11.03.2005. 1,000.0 1,000.0 1,000.0 8.95 VII Auction of 182-day
XLVII Aukcija na 28 dana 17.03.2005. 9,000.0 9,000.0 9,705.0 9.22 XLVI Auction of 28-day
X Aukcija na 91 dan 24.03.2005. 2,500.0 2,000.0 2,000.0 9.03 X Auction of 91-day
XI Aukcija na 91 dan 30.03.2005. 2,500.0 2,500.0 2,535.0 10.20 XI Auction of 91-day
XII Aukcija na 91 dan 31.03.2005. 5,500.0 4,830.0 4,830.0 9.68 XII Auction of 91-day
XLI Aukcija na 56dana 31.03.2005. 5,000.0 5,000.0 5,081.5 9.38 XLI Auction of 56-day
April April
VIII Aukcija na 182dana 07.04.2005. 2,000.0 2,000.0 2,148.5 9.48 VIII Auction of 182-day
XLVIII Aukcija na 28 dana 14.04.2005. 5,000.0 5,000.0 8,817.3 8.33 XLVII Auction of 28-day
XIII Aukcija na 91 dan 21.04.2005. 2,000.0 2,000.0 2,560.0 8.61 XIII Auction of 91-day
Maj May
XLII Aukcija na 56 dana 05.05.2005. 4,000.0 4,000.0 6,426.0 8.30 XLII Auction of 56-day
XLIX Aukcija na 28 dana 12.05.2005. 1,000.0 1,000.0 4,295.0 4.50 XLVIII Auction of 28-day
IX Aukcija na 182 dana 25.05.2005. 2,000.0 2,000.0 3,130.0 8.69 IX Auction of 182-day
XLIII Aukcija na 5 6dana 26.05.2005. 5,000.0 5,000.0 6,163.5 7.63 XLIII Auction of 56-day
Jun June
XIV Aukcija na 91 dan 23.06.2005. 1,000.0 1,000.0 3,815.0 6.88 XIV Auction of 91-day
XV Aukcija na 91 dan 29.06.2005. 1,000.0 1,000.0 1,685.0 5.59 XV Auction of 91-day
XVI Aukcija na 91 dan 30.06.2005. 2,000.0 2,000.0 6,263.5 5.82 XVI Auction of 91-day
XLIV Aukcija na 56 dana 30.06.2005. 1,500.0 1,500.0 3,336.9 5.45 XLIV Auction of 56-day
Jul July
X Aukcija na 182 dana 12.07.2005. 1,500.0 1,500.0 2,150.0 3.82 X Auction of 182-day
XLV Aukcija na 56 dana 21.07.2005. 3,000.0 3,000.0 6,928.7 3.57 XLV Auction of 56-day
XVII Aukcija na 91 dan 21.07.2005. 1,000.0 1,000.0 1,920.8 4.82 XVII Auction of 91-day
Avgust August
XI Aukcija na 182 dana 25.08.2005. 1,500.0 1,500.0 1,964.4 4.30 XI Auction of 182-day
XLVI Aukcija na 56 dana 25.08.2005. 1,000.0 1,000.0 3,950.0 2.96 XLVI Auction of 56-day
Septembar September
XLVII Aukcija na 56 dana 15.09.2005. 1,500.0 1,500.0 4,653.0 2.88 XLVII Auction of 56-day
XVIII Aukcija na 91 dan 22.09.2005. 1,000.0 1,000.0 3,190.0 2.24 XVIII Auction of 91-day
XIX Aukcija na 91 dan 29.09.2005. 1,000.0 1,000.0 3,520.0 1.06 XIX Auction of 91-day
Oktobar October
XII Aukcija na 182dana 06.10.2005. 1,000.0 1,000.0 1,204.0 3.24 XII Auction of 182-day
XX Aukcija na 91 dan 20.10.2005. 1,000.0 1,000.0 2,360.0 1.42 XX Auction of 91-day
Novembar November
XLVIII Aukcija na 56dana 10.11.2005. 1,000.0 1,000.0 1,910.0 1.64 XLVIII Auction of 56-day
XIII Aukcija na 182dana 23.11.2005. 1,000.0 1,000.0 2,100.0 1.01 XIII Auction of 182-day
Decembar December
XXI Aukcija na 91 dan 22.12.2005. 1,000.0 1,000.0 2,195.0 0.98 XXI Auction of 91-day
Issue date Issued Sold Total demand
Average weighted
interest rate (annual%)
Auction of treasury bills
Ukupno - januar-decembar 2005. godine Total - January-December 2005.
38 aukcija 110,900.00 108,945.00 154,988.10 38 auction
Tabela 2.5 - Pregled održanih aukcija u 2005. godini,
u 000 eura
Table 2.5 - Auction of treasury bills in 2005,
in EUR thousand
Izvor: CBCG Source: CBM
52Statistički biltenMaj 2011.
Aukcije državnih zapisa Datum EmitovanoProdati
državni zapisiUkupna tražnja
Ponderisana stopa
Januar January
XIII Aukcija na 182 dana 09.01.2006. 1,500.0 1,500.0 3,161.0 0,69% XIV Auction of 182-day
XII Aukcija na 91 dan 18.01.2006. 700.0 700.0 2,220.0 0,49% XXII Auction of 91-day
Februar February
XV Aukcija na 182 dana 22.02.2006. 1,300.0 1,300.0 2,715.0 0,46% XV Auction of 182-day
Mart March
XXIII Aukcija na 91 dan 22.03.2006. 1,000.0 1,000.0 1,190.0 0,97% XXIII Auction of 91-day
April April
XVI Aukcija na 182 dana 06.04.2006. 1,000.0 1,000.0 1,900.0 0,91% XVI Auction of 182-day
XXIV Aukcija na 91 dan 19.04.2006. 700.0 700.0 700.0 2,52% XXIV Auction of 91-day
Maj May
XVII Aukcija na 182 dana 23.05.2006 1,000.0 1,000.0 1,013.0 2,96% XVII Auction of 182-day
Jun June
XXV Aukcija na 91 dan 21.06.2006 1.000,0 1.000,0 1.750,0 1,48% XXV Auction of 91-day
Jul July
XXVI Aukcija na 91 dan 19.07.2006 500,0 500,0 1.686,0 0,90% XXVI Auction of 91-day
XVIII Aukcija na 182 dana 10.07.2006 1.300,0 1.300,0 1.450,0 2,96% XVIII Auction of 182-day
Avgust August
XIX Aukcija na 182 dana 23.08.2006 500.0 500.0 1,300.0 0,45% XIX Auction of 182-day
Septembar September
XXVII Aukcija na 91 dan 20.09.2006 500.0 500.0 800.0 0,92% XXVII Auction of 91-day
Oktobar October
XX Aukcija na 182 dana 05.10.2006 200.0 200.0 500.0 0,53% XX Auction of 182-day
Novembar November
XXI Aukcija na 182 dana 21.11.2006 800.0 800.0 1,600.0 0,50% XXI Auction of 182-day
Decembar December
XXVIII Aukcija na 91 dan 20.12.2006 500.0 500.0 800.0 0,97% XXVIII Auction of 91-day
Issue date Issued Sold Total demand
Average weighted
interest rate (annual%)
Auction of treasury bills
Ukupno - januar - decembar 2006. godine Total - January-December 2006.
15 aukcija 12,500.00 12,500.00 22,785.00 15 auctions
Tabela 2.6 - Pregled održanih aukcija u 2006. godini,
u 000 eura
Table 2.6 - Auction of treasury bills in 2006,
in EUR thousand
Izvor: CBCG Source: CBM
Statistical BulletinMay 2011
53
Izvor: CBCG Source: CBM
Tabela 2.8 - Pregled održanih aukcija u 2009. godini,
u 000 eura
Table 2.8 - Auctions of treasury bills in 2009,
EUR thousand
Aukcije državnih zapisa Datum EmitovanoProdati
državni zapisiUkupna tražnja
Ponderisana stopa
Mart March
XXIV Aukcija na 182 dana 04.03.2009 40.000,0 30.250,0 34.850,0 3,98% XXIV Auction of 182-day
XXV Aukcija na 182 dana 18.03.2009 10.000,0 2.500,0 5.900,0 4,30% XXV Auction of 182-day
XXVI Aukcija na 182 dana 25.03.2009 6.000,0 1.900,0 1.900,0 5,00% XXVI Auction of 182-day
Septembar September
XXVII Aukcija na 182 dana 01.09.2009. 35.000,0 34.592,0 39.742,0 3,82% XXVII Auction of 182-day
XXVIII Aukcija na 182 dana 14.09.2009. 5.000,0 5.000,0 7.730,0 3,92% XXVIII Auction of 182-day
XXIX Aukcija na 182 dana 21.09.2009. 2.000,0 2.000,0 4.050,0 4,15% XXIX Auction of 182-day
Oktobar/October
XXX Aukcija na 182 dana 26.10.2009. 8.000,0 8.000,0 12.050,0 3,00% XXX Auction of 182-day
Issue date Issued Sold Total demandAverage-weighted
interest rate (annual, in %)Auctions of treasury bills
Ukupno 2009. godina Total 2009
7 aukcija 106.000,00 84.242,00 106.222,00 7 auction
Aukcije državnih zapisa Datum EmitovanoProdati
državni zapisiUkupna tražnja
Ponderisana stopa
Januar January
XXII Aukcija na 182 dana 09.01.2007 1.300,0 1.300,0 1.500,0 0,90% XXII Auction of 182-day
Februar February
XXIII Aukcija na 182 dana 21.02.2007 500.0 500.0 800.0 0.49% XXIII Auction of 182-day
Issue date Issued Sold Total demandAverage-weighted
interest rate (annual, in %)Auctions of treasury bills
Ukupno Januar-Februar 2007.godina Total January-February 2007
2 aukcije 1.800,00 1.800,00 2.300,00 2 auction
Tabela 2.7 - Pregled održanih aukcija u 2007. godini,
u 000 eura
Table 2.7 - Auction of treasury bills in 2007,
in EUR thousand
Izvor: CBCG Source: CBM
54Statistički biltenMaj 2011.
Aukcije državnih zapisa Datum EmitovanoProdati
državni zapisiUkupna tražnja
Ponderisana stopa
Mart March
XXXI Aukcija na 182 dana 01.03.2010. 35.500,0 35.500,0 40.092,0 3,96% XXXI Auction of 182-day
XXXII Aukcija na 182 dana 15.03.2010. 7.000,0 7.000,0 11.640,0 3,56% XXXII Auction of 182-day
XXXIII Aukcija na 182 dana 23.03.2010. 4.000,0 3.160,0 6.160,0 4,34% XXXIII Auction of 182-day
April April
XXXIV Aukcija na 182 dana 27.04.2010. 9.500,0 9.500,0 14.000,0 3,50% XXXIV Auction of 182-day
Avgust August
XXXV Aukcija na 182 dana 30.08.2010. 39.000,0 39.000,0 47.992,0 3,36% XXXV Auction of 182-day
Septembar September
XXXVI Aukcija na 182 dana 13.09.2010. 7.000,0 7.000,0 15.232,0 3,43% XXXVI Auction of 182-day
Oktobar October
XXXVII Aukcija na 182 dana 26.10.2010. 3.592,0 3.592,0 9.592,0 2,58% XXXVII Auction of 182-day
Issue date Issued Sold Total demandAverage-weighted interest
rate (annual, in %)Auctions of treasury bills
Ukupno 2010. godina Total 2010
7 aukcija 105.592,00 104.752,00 144.708,00 7 auction
Tabela 2.9 - Pregled održanih aukcija u 2010. godini,
u 000 eura
Table 2.9 - Auction of treasury bills in 2010,
in EUR thousand
Izvor: CBCG Source: CBM
Aukcije državnih zapisa Datum EmitovanoProdati
državni zapisiUkupna tražnja
Ponderisana stopa
Februar February
XXXVIII Aukcija na 182 dana 28.02.2011. 44.000,0 44.000,0 51.239,5 2,64% XXXVIII Auction of 182-day
Mart March
XXXIX Aukcija na 182 dana 14.03.2011. 10.000,0 10.000,0 11.297,7 2,90% XXXIX Auction of 182-day
April April
XL Aukcija na 182 dana 26.04.2011. 3.592,0 3.592,0 5.268,6 2,72% XL Auction of 182-day
Issue date Issued Sold Total demandAverage-weighted interest
rate (annual, in %)Auctions of treasury bills
Ukupno 2011.godina Total 2011
3 aukcija 57.592,00 57.592,00 67.805,79 3 auction
Tabela 2.10 - Pregled održanih aukcija u 2011. godini,
u 000 eura
Table 2.10 - Auctions of treasury bills in 2011,
EUR thousand
Izvor: CBCG Source: CBM
Statistical BulletinMay 2011
55
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ater
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kcije
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onda
za
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šteć
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ezni
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a sa
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***
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štin
a***
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ezni
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kcije
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****
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613.
376
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.N
.A.
N.A
.N
.A.
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.N
.A.
2002
2003
43.5
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000
00
00
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0320
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9.09
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00
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00
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2005
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2.83
4.41
919
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3.36
216
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894
515
.966
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9.99
90,
323.
830.
191
1,02
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8013
,87
2006
2007
727.
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166
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822,
0671
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297
,94
569.
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0,26
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61,
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7713
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419
,21
2007
2008
160.
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040
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01,
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00
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975
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ua
r3
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Tota
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EUR
Prim
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%Se
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%Sh
ares
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Tota
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by se
curit
ies
56Statistički biltenMaj 2011.
Ukupno
Promet € Kapitalizacija € KOS
1 2 3
2008 2008
Decembar 5.704.903 3.225.119.095 0,001769 December
2009 2009
Januar 3.438.808 2.223.745.568 0,001546 January
Februar 6.108.316 3.262.576.426 0,001872 February
Mart 17.614.049 3.102.389.726 0,005678 March
April 3.607.686 3.104.257.378 0,001162 April
May 130.877.555 3.359.685.859 0,038955 May
Jun 9.576.403 3.363.245.982 0,002847 June
Jul 41.680.689 3.291.335.863 0,012664 July
Avgust 14.040.912 3.475.801.235 0,004040 August
Septembar 115.894.222 3.662.425.121 0,031644 September
Oktobar 21.095.066 3.301.017.276 0,006390 October
Novembar 11.036.824 2.755.077.294 0,004006 November
Decembar 30.839.655 2.865.099.137 0,010764 December
2010 2010
Januar 6.881.688 2.885.612.869 0,002385 January
Februar 3.716.808 2.797.029.261 0,001329 February
Mart 3.935.581 2.734.328.113 0,001439 March
April 4.274.651 2.653.423.750 0,001611 April
Maj 5.571.328 2.563.823.698 0,002173 May
Jun 8.122.567 2.644.236.475 0,003072 June
Jul 2.490.257 2.680.232.023 0,000929 July
Avgust 3.160.914 2.764.668.482 0,001143 August
Septembar 4.361.300 2.794.706.915 0,001561 September
Oktobar 4.450.705 2.713.612.522 0,001640 October
Novembar 2.823.889 2.724.943.548 0,001036 November
Decembar 5.006.723 2.716.527.343 0,001843 December
2011 2011
Januar 4.095.242 3.265.570.369 0,001254 January
Februar 2.609.053 3.144.765.632 0,000830 February
Mart 3.863.723 3.030.736.122 0,001275 March
April 8.566.515 3.019.923.037 0,002837 April
1 2 3
Turnover € Capitalization € TC
Total
Tabela 2.12 -
Montenegroberza:
promet, kapitalizacija
i koeficijent obrta
sredstava (KOS)
Table 2.12 -
Montenegro stock
exchange: turno-
ver, capitalization,
and turnover
coefficient (TC)
Izvor: Montenegro berza
Napomena: Od 01. januara 2011.
godine posluje jedinstvena berza
Source: Montenegro stock exchangeNote: Since January 01 2011 operates unique stock exchange
Statistical BulletinMay 2011
57
Tabela 2.13 -
Montenegro berza -
berzanski indeksi
Izvor: Montenegroberza
Monex 20 Monex PIF
1 2
2007 2007
Januar 21.227,46 20.485,97 January
Februar 25.993,45 23.478,04 February
Mart 40.092,65 31.158,95 March
April 46.232,45 41.789,77 April
Maj 41.833,33 45.585,05 May
Jun 40.433,96 43.797,01 June
Jul 39.718,79 42.242,86 July
Avgust 43.318,59 48.156,95 August
Septembar 39.393,33 44.205,77 September
Oktobar 36.902,99 40.767,17 October
Novembar 30.298,27 34.897,92 November
Decembar 34.168,63 39.229,17 December
2008 2008
Januar 30.626,23 33.880,86 January
Februar 30.273,16 33.839,72 February
Mart 24.958,86 27.686,03 March
April 23.195,12 25.198,29 April
Maj 21.359,82 21.730,85 May
Jun 18.077,77 17.736,12 June
Jul 19.387,89 17.720,94 July
Avgust 17.361,25 15.953,62 August
Septembar 15.309,36 13.193,78 September
Oktobar 11.096,00 7.898,76 October
Novembar 8.378,80 5.305,28 November
Decembar 10.002,93 5.844,64 December
2009 2009
Januar 10.850,30 7.337,73 January
Februar 9.452,00 5.560,27 February
Mart 8.905,72 4.485,88 March
April 9.763,52 5.309,65 April
Maj 15.551,82 10.685,04 May
Jun 14.178,9 7.998,3 June
Jul 14.974,49 7.299,70 July
Avgust 17.083,52 8.962,06 August
Septembar 18.076,04 10.664,67 September
Oktobar 15.349,55 8.243,47 October
Novembar 14.266,91 6.983,03 November
Decembar 14.596,88 7.020,66 December
2010 2010
Januar 14.415,58 6.542,70 January
Februar 15.071,43 6.917,58 February
Mart 14.930,19 6.877,79 March
April 14.685,02 7.163,73 April
Maj 12.880,61 6.852,56 May
Jun 13.063,41 6.572,19 June
Jul 13.387,47 6.057,12 July
Avgust 13.705,93 6.127,96 August
Septembar 13.870,26 5.703,72 September
Oktobar 13.764,93 5.653,76 October
Novembar 14.051,43 5.460,58 November
Decembar 14.522,53 6.777,76 December
2011 2011
Januar 15.093,28 6.254,78 January
Februar 13.821,59 6.060,14 February
Mart 12.761,66 5.612,21 March
April 12.682,45 5.519,77 April
1 2
Monex 20 Monex PIF
Table 2.13 -
Montenegrin stock
exchange, indices
Source: Montenegro stock exchange
58Statistički biltenMaj 2011.
Ta
be
la 3
.1 -
Pla
tni b
ila
ns
Crn
e G
ore
, u 0
00
eu
ra
T
ab
le 3
.1-
Ba
lan
ce o
f p
ay
me
nts
of
Mo
nte
ne
gro
, EU
R t
ho
usa
nd
III International Economic RelationsIII Ekonomski odnosi a inostranstvom
Kona
čni p
odac
i za
2010
. god
inu
i pre
limin
arni
pod
aci z
a 20
11. g
odin
uIz
vor:
CBCG
* M
etod
ološ
ke n
apom
ene:
Pod
aci o
spol
jnoj
trgo
vini
u p
latn
om b
ilans
u Cr
ne G
ore
prik
azan
i su
po sp
ecija
lnom
sist
emu
trgo
vine
. CBC
G v
rši p
rilag
ođav
anje
pod
atak
a do
bi-
jeni
h od
Mon
stat
-a z
a po
treb
e iz
rade
pla
tnog
bila
nsa
u sk
ladu
sa m
etod
olog
ijom
M
MF-
a (B
alan
ce o
f Pay
men
ts M
anua
l, Fi
fth
editi
on, I
MF,
1993
).
Fina
l dat
a fo
r 201
0 an
d pr
elim
inar
y da
ta fo
r 201
1So
urce
: Cen
tral
Ban
k of
Mon
tene
gro
* M
etho
dolo
gica
l not
es: D
ata
on m
erch
andi
se tr
ade
in th
e Ba
lanc
e of
Pay
men
ts
of M
onte
negr
o ar
e co
mpi
led
in a
ccor
danc
e w
ith th
e sp
ecia
l tra
de sy
stem
. Ce
ntra
l ban
k of
Mon
tene
gro
mak
es a
djus
tmen
ts o
f dat
a ob
tain
ed fr
om M
onst
at
for t
he b
alan
ce o
f pay
men
ts p
urpo
ses i
n ac
cord
ance
with
the
IMF
met
hodo
logy
(B
alan
ce o
f Pay
men
ts M
anua
l, fif
th e
ditio
n, 1
993)
.
2007
2008
2009
2010
2009
2010
2011
III
IIIIV
III
IIIIV
I
A. T
EKU
ĆI R
AČ
UN
(1+
2+3+
4)-1
.077
.544
-1.5
83.6
87-8
96.3
29-7
78.2
80-2
57.9
78-2
93.5
21-1
6.98
6-3
27.8
44-2
43.1
58-2
67.7
8510
.121
-277
.458
-188
.462
A. C
URR
ENT
ACC
OU
NT
(1+
2+3+
4)
1. R
obe*
-1.6
07.1
73
-2.1
01.9
23
-1.3
71.6
99
-1.3
17.3
82
-27
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54
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53
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68
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427
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ood
s*
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oz
48
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35
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912
96
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57.
90
48
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20
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80
60
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99
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4393
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107.
612
115
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8
1
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xpo
rt
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oz
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90
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82
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66
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121.
674
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64
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447
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30
435
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03
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mp
ort
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slug
e43
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93
48
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7.21
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473
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83
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2. S
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ces
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ho
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024
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dit
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eb
it
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oho
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814
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47 3
. In
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e
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rih
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i10
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35
168
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02
40
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29
38
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24
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36
44
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6
3
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red
it
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29
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39
518
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40
26
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95
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9724
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9
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eb
it
4. T
ekuć
i tra
nsfe
ri59
.37
97
3.0
60
85
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711
4.4
08
15.8
152
2.1
58
21.9
89
25
.415
23
.40
62
8.8
39
27.
415
34
.74
82
5.5
86
4. C
urre
nt tr
ansf
ers
4.1
. Pri
ho
di
100
.761
109
.30
811
7.6
8114
6.3
162
6.4
02
28
.18
32
9.5
173
3.5
80
30
.38
43
6.2
143
5.7
89
43.9
29
33
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8
4
.1. C
red
it
4.2
. Ra
sho
di
41.3
813
6.2
48
32.3
04
31.9
08
10.5
87
6.0
25
7.5
28
8.1
65
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78
7.37
48
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9.1
818
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3
4
.2. D
eb
it
B. K
API
TALN
I I F
INA
NSI
JSKI
RA
ČU
N1.
053.
418
1.32
5.48
352
8.10
437
0.48
421
4.03
217
9.92
7-1
71.0
6830
5.21
219
5.73
713
1.57
8-2
45.6
5128
8.81
815
7.39
8B.
CA
PITA
L A
ND
FIN
AN
CIA
L A
CCO
UN
T
B1.
Ka
pit
aln
i ra
čun
-1.4
35
-46
31.
959
-49
5-3
1.9
95
-39
6-3
194
6-5
2-1
70
-13
6 B
1. C
ap
ita
l acc
ou
nt
B2
. Fin
an
sijs
ki r
aču
n1.
05
4.8
53
1.32
5.9
46
52
6.1
45
370
.97
921
4.0
35
177.
932
-171
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83
05
.20
619
6.0
57
131.
532
-24
5.5
99
28
8.9
89
157.
53
3 B
2. F
ina
nci
al a
cco
un
t
1
. Dir
ek
tne
inv
est
icije
567
.78
25
81.9
52
1.0
66
.497
552
.107
90
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324
1.61
359
2.2
9714
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1513
8.2
28
185
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88
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88
139
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311
4.2
11
1. D
ire
ct
inv
est
me
nt
1.1.
U in
ost
ran
stv
o-1
14.9
56
-73
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4-3
2.8
90
-22
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0-1
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57
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10-8
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3-8
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93-2
8.5
77
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62
7.9
85
2.4
36
1.1.
Ab
roa
d
1.2
. U C
rnu
Go
ru6
82
.73
96
55.6
57
1.0
99
.38
75
74.1
6710
0.6
29
246
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36
00
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915
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36
135
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521
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05
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50
131.
57
711
1.7
75
1.
2. I
n M
on
ten
eg
ro
2
. Po
rtfo
lio in
ve
stic
ije5
.19
0-1
5.5
28
-41.
851
188
.20
8-1
0.4
69
-18
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-8.8
02
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311.
114
188
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60
914
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9
2. P
ort
folio
inv
est
me
nt
2.1
. Sre
dst
va
-2.7
16-1
1.6
42-3
8.2
61-3
.637
-9.7
90
-18
.09
9-3
.18
0-7
.191
921
2.4
22
-4.5
19-2
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06
2.1
. Ass
ets
2.2
. Ob
av
eze
7.9
05
-3.8
86
-3.5
90
191.
84
5-6
79
-55
2-7
49
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11-2
.65
3-1
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192
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53
.07
017
.28
6
2
.2. L
iab
iliti
es
3
. Ost
ale
inv
est
icije
632
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60
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20
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52
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37
2.4
64
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92
9-5
51.7
52
123
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54
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3-9
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97-3
54
.37
99
2.1
60
-78
.20
4
3. O
the
r in
vest
me
nt
3.1
. Sre
dst
va
-30
4.9
72
-18
3.3
64
-32
2.3
86
-337
.20
6-8
.49
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6.0
35
-33
4.7
26
66
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34
8.1
14-1
39
.259
-28
5.5
08
39
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-49
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9
3
.1. A
sse
ts
3.2
. Ob
av
eze
937.
65
37
87.
58
4-9
1.43
6-1
5.5
478
0.9
62
-11.
89
4-2
17.0
25
56
.52
2-4
3.3
5143
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-68
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52
.714
-29
.00
5
3
.2. L
iab
iliti
es
B3
. Pro
mje
na
re
zerv
i CB
CG
-15
0.8
00
155
.301
-84
.67
9-1
6.5
85
61.7
68
12.8
99
-207
.64
44
8.2
98
54
.79
64
0.6
87
-16
8.7
25
56
.65
710
7.4
47 B
3.
Ch
an
ge
in r
ese
rve
ass
ets
CB
M
C. N
ETO
GRE
ŠKE
I OM
AŠK
E24
.125
258.
204
368.
225
407.
797
43.9
4611
3.59
318
8.05
322
.632
47.4
2013
6.20
723
5.53
0-1
1.36
131
.064
C. N
ET E
RRO
RS A
ND
OM
ISSI
ON
S
Statistical BulletinMay 2011
59
Ta
be
la 3
.2 -
Ro
be
i u
slu
ge
, u 0
00
eu
raT
ab
le 3
.2 -
Go
od
s a
nd
Se
rvic
es,
EU
R t
ho
usa
nd
s
Kona
čni p
odac
i za
2010
. god
inu
i pre
limin
arni
pod
aci z
a 20
11. g
odin
uIz
vor:
CBCG
* M
etod
ološ
ke n
apom
ene:
Pod
aci o
spol
jnoj
trgo
vini
u p
latn
om b
ilans
u Cr
ne G
ore
prik
azan
i su
po sp
ecija
lnom
sist
emu
trgo
vine
. CBC
G v
rši p
rilag
ođav
anje
pod
atak
a do
bije
nih
od M
onst
at-a
za
potr
ebe
izra
de p
latn
og b
ilans
a u
skla
du sa
met
odol
ogijo
m
MM
F-a
(Bal
ance
of P
aym
ents
Man
ual,
Fift
h ed
ition
, IM
F, 19
93).
Fina
l dat
a fo
r 201
0 an
d pr
elim
inar
y da
ta fo
r 201
1So
urce
: Cen
tral
Ban
k of
Mon
tene
gro
* M
etho
dolo
gica
l not
es: D
ata
on m
erch
andi
se tr
ade
in th
e Ba
lanc
e of
Pay
men
ts
of M
onte
negr
o ar
e co
mpi
led
in a
ccor
danc
e w
ith th
e sp
ecia
l tra
de sy
stem
. Ce
ntra
l ban
k of
Mon
tene
gro
mak
es a
djus
tmen
ts o
f dat
a ob
tain
ed fr
om M
onst
at
for t
he b
alan
ce o
f pay
men
ts p
urpo
ses i
n ac
cord
ance
with
the
IMF
met
hodo
logy
(B
alan
ce o
f Pay
men
ts M
anua
l, fif
th e
ditio
n, 1
993)
.
2007
2008
2009
2010
2009
2010
2011
III
IIIIV
III
IIIIV
I
1. R
obe*
-1.6
07.1
73-2
.101
.923
-1.3
71.6
99-1
.317
.382
-278
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-360
.553
-363
.461
-368
.731
-254
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-353
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-381
.798
-327
.427
-237
.119
1. G
oods
*
1
.1. I
zvo
z4
83
.43
54
50
.39
12
96
.31
33
56
.62
67
6.5
09
57
.90
48
0.0
20
81
.88
06
0.3
39
94
.84
39
3.8
32
10
7.6
12
11
5.6
58
1
.1. E
xpo
rt
1
.1.1
. Izv
oz
u s
po
ljno
trg
ovi
nsk
oj s
tati
stic
i4
54
.73
94
16
.16
52
77
.01
13
30
.36
77
1.6
32
52
.00
07
5.6
92
77
.68
65
5.7
80
86
.41
28
6.9
09
10
1.2
66
11
1.1
81
1
.1.1
. Exp
ort
s f.o
.b. i
n t
rad
e s
tati
stic
s
1
.1.2
. Pri
lag
ođ
avan
je o
bu
hva
ta2
8.6
96
34
.22
61
9.3
02
26
.25
94
.87
75
.90
44
.32
84
.19
44
.55
98
.43
16
.92
36
.34
74
.47
7
1.1
.2. A
dju
stm
en
ts fo
r co
vera
ge
1
.2. U
voz
2.0
90
.60
82
.55
2.3
14
1.6
68
.01
21
.67
4.0
08
35
5.4
64
41
8.4
57
44
3.4
81
45
0.6
11
31
4.6
44
44
8.6
94
47
5.6
30
43
5.0
40
35
2.7
77
1
.2. I
mp
ort
1
.2.1
. Uvo
z u
sp
oljn
otr
go
vin
sko
j sta
tist
ici
2.0
73
.09
32
.52
9.7
41
1.6
54
.17
01
.65
7.3
29
35
3.2
09
41
4.7
43
43
9.0
63
44
7.1
55
31
0.8
96
44
3.9
24
47
1.1
13
43
1.3
96
34
9.8
05
1
.2.1
. Im
po
rts
c.i.f
. in
tra
de
sta
tist
ics
1
.2.2
. Pri
lag
ođ
avan
je o
bu
hva
ta1
7.5
15
22
.57
31
3.8
42
16
.67
92
.25
53
.71
34
.41
83
.45
63
.74
84
.77
04
.51
73
.64
42
.97
2
1.2
.2. A
dju
stm
en
ts fo
r co
vera
ge
2. U
slug
e43
8.99
239
9.38
138
4.61
844
6.43
2-9
.024
49.6
9934
8.14
6-4
.203
-17.
214
60.1
4739
0.71
612
.783
2.62
5 2
. Ser
vice
s
2
.1. T
ran
spo
rt1
5.6
51
9.1
32
32
.49
75
5.9
71
3.9
91
8.5
06
13
.85
66
.14
46
.66
21
2.6
55
24
.62
51
2.0
29
8.8
26
2
.1. T
ran
spo
rtat
ion
2
.1.1
. Pri
ho
di
72
.01
39
2.0
00
99
.05
01
30
.14
51
8.1
65
25
.11
23
2.7
25
23
.04
91
9.8
04
30
.98
94
7.6
18
31
.73
42
5.2
32
2
.1.1
. Cre
dit
2
.1.2
. Ras
ho
di
56
.36
38
2.8
68
66
.55
37
4.1
74
14
.17
31
6.6
06
18
.86
91
6.9
05
13
.14
21
8.3
34
22
.99
31
9.7
05
16
.40
6
2.1
.2. D
eb
it
2
.2. P
uto
van
ja -
tu
riza
m4
32
.61
24
85
.73
04
39
.38
84
64
.21
69
.55
26
2.1
52
35
8.7
20
8.9
65
4.9
18
72
.19
43
80
.88
56
.21
94
.92
3
2.2
. Tra
vel
2
.2.1
. Pri
ho
di
45
9.5
44
51
5.2
34
47
4.6
84
49
8.0
80
14
.04
87
6.3
99
36
8.8
40
15
.39
81
0.4
66
79
.62
23
93
.69
61
4.2
96
9.2
50
2
.2.1
. Cre
dit
2
.2.2
. Ras
ho
di
26
.93
22
9.5
04
35
.29
53
3.8
64
4.4
95
14
.24
71
0.1
20
6.4
33
5.5
48
7.4
27
12
.81
18
.07
84
.32
8
2.2
.2. D
eb
it
2
.3 G
rađ
evi
nsk
e u
slu
ge
13
.13
0-1
4.4
81
-13
.74
8-1
7.1
35
1.1
04
-2.1
03
-6.7
17
-6.0
32
-3.9
19
-7.7
04
-5.9
32
42
03
78
2
.3 C
on
stru
ctio
n s
erv
ice
s
2
.3.1
Pri
ho
di
48
.96
75
0.6
25
27
.69
52
6.7
83
7.9
55
6.7
98
5.6
44
7.2
99
5.8
36
8.7
97
5.7
11
6.4
39
4.2
36
2.3
.1 C
red
it
2
.3.2
Ras
ho
di
35
.83
76
5.1
06
41
.44
44
3.9
18
6.8
51
8.9
01
12
.36
01
3.3
32
9.7
55
16
.50
11
1.6
43
6.0
19
3.8
58
2
.3.2
De
bit
2
.4 O
stal
e p
osl
ovn
e u
slu
ge
-11
.19
2-5
4.0
64
-44
.62
9-3
0.9
22
-8.6
32
-10
.46
3-1
3.4
18
-12
.11
6-9
.81
1-9
.84
2-8
.53
1-2
.73
7-4
.61
6
2.4
Oth
er
bu
sin
ess
se
rvic
es
2
.4.1
Pri
ho
di
46
.57
43
9.9
35
29
.07
83
9.7
09
7.1
53
7.8
99
5.9
45
8.0
80
6.0
01
8.0
96
9.1
98
16
.41
31
2.9
80
2
.4.1
Cre
dit
2
.4.2
Ras
ho
di
57
.76
69
4.0
00
73
.70
77
0.6
31
15
.78
61
8.3
62
19
.36
32
0.1
95
15
.81
31
7.9
38
17
.73
01
9.1
51
17
.59
6
2.4
.2 D
eb
it
2
.5. O
stal
e u
slu
ge
-11
.20
9-2
6.9
35
-28
.89
1-2
5.6
98
-15
.04
0-8
.39
2-4
.29
5-1
.16
4-1
5.0
63
-7.1
56
-33
0-3
.14
8-6
.88
6
2.5
. Oth
er
serv
ice
s
2
.5.1
. Pri
ho
di
45
.87
25
2.7
97
49
.98
05
2.3
06
7.8
49
9.2
97
15
.38
81
7.4
46
8.3
68
10
.82
71
6.1
44
16
.96
79
.23
3
2.5
.1. C
red
it
2
.5.2
. Ras
ho
di
57
.08
27
9.7
33
78
.87
17
8.0
04
22
.88
91
7.6
89
19
.68
31
8.6
09
23
.43
11
7.9
83
16
.47
42
0.1
16
16
.11
8
2.5
.2. D
eb
it
S
aldo
roba
i us
luga
(1+
2)-1
.168
.181
-1.7
02.5
42-9
87.0
81-8
70.9
50-2
87.9
79-3
10.8
54-1
5.31
4-3
72.9
34-2
71.5
19-2
93.7
058.
918
-314
.645
-234
.495
Ba
lanc
e of
goo
ds a
nd s
ervi
ces
(1+
2)
60Statistički biltenMaj 2011.
Ta
be
la 3
.3 -
Do
ho
da
k i
tek
ući
tra
nsf
eri
, u 0
00
eu
raT
ab
le 3
.3 -
In
com
e a
nd
Cu
rre
nt
Tra
nsf
ers
, EU
R t
ho
usa
nd
s
Kona
čni p
odac
i za
2010
. god
inu
i pre
limin
arni
pod
aci z
a 20
11. g
odin
uIz
vor:
CBCG
Fina
l dat
a fo
r 201
0 an
d pr
elim
inar
y da
ta fo
r 201
1So
urce
: Cen
tral
Ban
k of
Mon
tene
gro
2007
2008
2009
2010
2009
2010
2011
III
IIIIV
III
IIIIV
I
1. D
ohod
ak31
.258
45.7
955.
375
-21.
738
14.1
86-4
.825
-23.
661
19.6
754.
955
-2.9
20-2
6.21
32.
439
20.4
47 1
. Inc
ome
1
.1. N
akn
ade
zap
osl
en
ima
74
.59
21
36
.52
81
49
.68
51
50
.23
93
7.6
62
37
.63
03
6.0
39
38
.35
43
5.8
72
35
.68
83
7.5
71
41
.10
73
9.9
79
1
.1. C
om
pe
nsa
tio
n o
f e
mp
loye
es
1
.1.1
. Pri
ho
di
79
.78
11
41
.82
91
55
.71
11
58
.91
43
8.6
05
39
.29
93
7.9
24
39
.88
33
7.4
44
37
.52
44
0.5
16
43
.43
14
1.7
13
1
.1.1
. Cre
dit
1
.1.2
. Ras
ho
di
5.1
89
5.3
01
6.0
26
8.6
75
94
31
.66
91
.88
41
.53
01
.57
11
.83
62
.94
42
.32
31
.73
3
1.1
.2. D
eb
it
1
.2. D
oh
od
ak o
d d
ire
ktn
ih in
vest
icija
-10
.22
6-2
8.5
52
-63
.72
4-7
4.0
53
-5.1
39
-16
.41
3-4
0.7
26
-1.4
46
-11
.51
1-6
.59
9-4
4.7
85
-11
.15
8-3
26
1
.2. D
ire
ct in
vest
me
nt
inco
me
1
.2.1
. Pri
ho
di
1.1
12
67
11
.28
91
.70
71
55
41
.26
57
91
.46
64
91
12
1.5
69
1
.2.1
. Cre
dit
1
.2.2
. Ras
ho
di
11
.33
82
9.2
23
65
.01
47
5.7
59
5.1
55
16
.41
84
0.7
31
2.7
11
11
.59
08
.06
44
4.8
34
11
.27
11
.89
5
1.2
.2. D
eb
it
1
.3. D
oh
od
ak o
d p
ort
folio
inve
stic
ija0
-37
1-5
40
-6-3
-65
20
00
00
0
1.3
. Po
rtfo
lio in
vest
me
nt
inco
me
1
.3.1
. Pri
ho
di
08
42
05
51
12
00
00
00
1
.3.1
. Cre
dit
1
.3.2
. Ras
ho
di
03
80
96
01
28
76
00
00
00
1
.3.2
. De
bit
1
.4. D
oh
od
ak o
d o
stal
ih in
vest
icija
-33
.10
8-6
1.8
10
-80
.53
2-9
7.9
25
-18
.33
1-2
6.0
39
-18
.91
0-1
7.2
53
-19
.40
6-3
2.0
09
-18
.99
9-2
7.5
10
-19
.20
6
1.4
. Oth
er
inve
stm
en
t in
com
e
1
.4.1
. Pri
ho
di
24
.44
22
6.3
15
5.7
28
5.1
81
2.2
91
1.6
76
70
01
.06
09
08
96
31
.51
81
.79
31
.67
4
1.4
.1. C
red
it
1
.4.2
. Ras
ho
di
57
.55
08
8.1
25
86
.26
01
03
.10
62
0.6
22
27
.71
51
9.6
10
18
.31
32
0.3
14
32
.97
22
0.5
16
29
.30
32
0.8
80
1
.4.2
. De
bit
2.T
ekuć
i tra
nsfe
ri59
.379
73.0
6085
.377
114.
408
15.8
1522
.158
21.9
8925
.415
23.4
0628
.839
27.4
1534
.748
25.5
86 2
. Cur
rent
tran
sfer
s
2
.1. D
ržav
a1
.88
79
.26
25
.34
81
6.4
10
-70
61
.69
91
.62
42
.73
12
.11
94
.64
75
.96
13
.68
21
.31
0
2.1
. Ge
ne
ral g
ove
rnm
en
t
2
.1.1
. Pri
ho
di
7.7
81
13
.49
61
4.8
22
23
.85
54
.65
62
.61
33
.41
74
.13
63
.93
36
.22
77
.21
96
.47
63
.19
8
2.1
.1. C
red
it
2
.1.2
. Ras
ho
di
5.8
95
4.2
33
9.4
74
7.4
46
5.3
61
91
41
.79
41
.40
51
.81
31
.58
01
.25
82
.79
41
.88
8
2.1
.2. D
eb
it
2
.2. O
stal
i se
kto
ri5
7.4
93
63
.79
78
0.0
29
97
.99
81
6.5
21
20
.45
92
0.3
66
22
.68
42
1.2
87
24
.19
22
1.4
54
31
.06
62
4.2
76
2
.2. O
the
r se
cto
rs
2
.2.1
. Pri
ho
di
92
.97
99
5.8
13
10
2.8
59
12
2.4
61
21
.74
62
5.5
70
26
.10
02
9.4
43
26
.45
22
9.9
86
28
.57
03
7.4
53
30
.69
0
2.2
.1. C
red
it
2
.2.2
.Ras
ho
di
35
.48
73
2.0
15
22
.83
02
4.4
62
5.2
25
5.1
11
5.7
34
6.7
60
5.1
64
5.7
94
7.1
17
6.3
87
6.4
15
2
.2.2
. De
bit
Statistical BulletinMay 2011
61
Ta
be
la 3
.4 -
Dir
ek
tne
inv
est
icij
e, u
00
0 e
ura
Ta
ble
3.4
- D
ire
ct
inv
est
me
nt,
EU
R t
ho
usa
nd
s
Ta
be
la 3
.5 -
Po
rtfo
lio
inv
est
icij
e, u
00
0 e
ura
Ta
ble
3.5
- P
ort
foli
o in
ve
stm
en
t, E
UR
th
ou
san
ds
Kona
čni p
odac
i za
2010
. god
inu
i pre
limin
arni
pod
aci z
a 20
11. g
odin
uIz
vor:
CBCG
Fina
l dat
a fo
r 201
0 an
d pr
elim
inar
y da
ta fo
r 201
1So
urce
: Cen
tral
Ban
k of
Mon
tene
gro
Kona
čni p
odac
i za
2010
. god
inu
i pre
limin
arni
pod
aci z
a 20
11. g
odin
uIz
vor:
CBCG
Fina
l dat
a fo
r 201
0 an
d pr
elim
inar
y da
ta fo
r 201
1So
urce
: Cen
tral
Ban
k of
Mon
tene
gro
2007
2008
2009
2010
2009
2010
2011
III
IIIIV
III
IIIIV
I
Dire
ktne
inve
stic
ije, n
eto
567.
782
581.
952
1.06
6.49
755
2.10
790
.273
241.
613
592.
297
142.
315
138.
228
185.
028
89.2
8813
9.56
311
4.21
1D
irect
inve
stm
ent (
net)
1.
U in
ostr
anst
vo-1
14.9
56-7
3.70
4-3
2.89
0-2
2.06
0-1
0.35
7-5
.010
-8.6
03-8
.921
2.49
3-2
8.57
7-3
.962
7.98
52.
436
1.
Abr
oad
1.1
. In
vest
icije
u v
lasn
ički
kap
ital
-1
14
.95
6-7
3.7
04
-32
.89
0-1
0.4
89
-10
.35
7-5
.01
0-8
.60
3-8
.92
1-6
87
-4.5
42
-2.4
27
-2.8
34
-5.4
90
1.1
. Eq
uit
y ca
pit
al a
nd
re
inve
ste
d e
arn
ing
s
1.2
. Ost
ala
ula
gan
ja0
00
-11
.57
10
00
03
.18
0-2
4.0
35
-1.5
35
10
.81
97
.92
5
1
.2. O
the
r ca
pit
al
2.
U C
rnu
Gor
u68
2.73
965
5.65
71.
099.
387
574.
167
100.
629
246.
623
600.
899
151.
236
135.
735
213.
605
93.2
5013
1.57
711
1.77
5
2. In
Mon
tene
gro
2.1
.Inve
stic
ije u
vla
snič
ki k
apit
al
52
6.2
01
41
9.5
85
96
4.0
76
42
9.0
61
74
.87
32
11
.21
05
78
.13
19
9.8
63
10
2.3
34
17
1.9
79
70
.26
48
4.4
83
81
.08
8
2
.1. E
qu
ity
cap
ital
an
d r
ein
vest
ed
ear
nin
gs
2.2
. Ost
ala
ula
gan
ja1
56
.53
82
36
.07
11
35
.31
11
45
.10
62
5.7
57
35
.41
32
2.7
68
51
.37
33
3.4
01
41
.62
52
2.9
86
47
.09
43
0.6
88
2.2
. Oth
er
cap
ital
2007
2008
2009
2010
2009
2010
2011
III
IIIIV
III
IIIIV
I
Por
tfol
io u
laga
nja,
net
o5.
190
-15.
528
-41.
851
188.
208
-10.
469
-18.
651
-3.9
29-8
.802
-1.7
311.
114
188.
216
609
14.0
79 P
ortf
olio
inve
stm
ent (
net)
1.
Sre
dstv
a-2
.716
-11.
642
-38.
261
-3.6
37-9
.790
-18.
099
-3.1
80-7
.191
921
2.42
2-4
.519
-2.4
61-3
.206
1.
Ass
ets
1.1
. Ula
gan
ja u
vla
snič
ke h
arti
je o
d v
rije
dn
ost
i-1
3.3
50
-9.1
89
-35
.22
41
.21
1-1
0.2
90
-18
.09
93
57
-7.1
91
92
12
.42
2-5
71
-1.5
61
29
4
1
.1. E
qu
ity
secu
riti
es
1.2
. Ula
gan
ja u
du
žnič
ke h
arti
je o
d v
rije
dn
ost
i1
0.6
34
-2.4
52
-3.0
37
-4.8
48
50
00
-3.5
37
00
0-3
.94
8-9
00
-3.5
00
1.2
. De
bt
secu
riti
es
2.
Oba
veze
7.90
5-3
.886
-3.5
9019
1.84
5-6
79-5
52-7
49-1
.611
-2.6
53-1
.307
192.
735
3.07
017
.286
2.
Lia
bilit
ies
2.1
. Ula
gan
ja u
vla
snič
ke h
arti
je o
d v
rije
dn
ost
i3
.32
4-3
.77
2-3
.60
2-5
.86
9-6
81
-55
7-7
51
-1.6
14
-2.6
55
-1.3
09
-1.2
59
-64
6-3
.96
8
2
.1. E
qu
ity
secu
riti
es
2.2
. Ula
gan
ja u
du
žnič
ke h
arti
je o
d v
rije
dn
ost
i4
.58
1-1
14
12
19
7.7
14
25
23
22
19
3.9
94
3.7
16
21
.25
3
2
.2. D
eb
t se
curi
tie
s
2
.2.1
. Ob
vezn
ice
4.5
77
-11
41
21
97
.71
42
52
32
21
93
.99
43
.71
62
1.2
53
2
.2.1
. Bo
nd
s
2
.2.2
. In
stru
me
nti
trž
išta
no
vca
40
00
00
00
00
00
0
2.2
.2. M
on
ey
mar
ket
inst
rum
en
ts
62Statistički biltenMaj 2011.
Ta
be
la 3
.6 -
Ost
ale
inv
est
icij
e, u
00
0 e
ura
Ta
ble
3.6
- O
the
r in
ve
stm
en
t, E
UR
th
ou
san
ds
Prel
imin
arni
pod
aci z
a 20
10. g
odin
u i r
evid
irani
pod
aci z
a pr
etho
dne
godi
neIz
vor:
CBCG
Prel
imin
ary
data
for 2
010
and
revi
sed
for p
revi
ous y
ears
Sour
ce: C
entr
al B
ank
of M
onte
negr
o
2007
2008
2009
2010
2009
2010
2011
III
IIIIV
III
IIIIV
I
Ost
ale
inve
stic
ije (n
eto)
632.
681
604.
220
-413
.822
-352
.753
72.4
64-5
7.92
9-5
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Inte
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04
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100
2005
2005
Kum
ulat
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254
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06.
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166
Cum
ulat
ive
Jan
.-Dec
.1.
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910
2148
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458.
646
21.8
4044
,88%
563.
264
26.8
2255
,12%
Jan
- Dec
2006
2006
Kum
ulat
iv19
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.867
255
75.0
506.
753.
677
26.4
8535
,29%
12.3
84.1
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mul
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1.59
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256
2.80
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016
Jan
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20
07
Kum
ulat
iv23
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254
91.2
767.
937.
323
31.2
4934
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15.2
46.6
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mul
ativ
eJa
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pro
sjek
1.93
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Jan
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rage
2008
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08
Kum
ulat
iv26
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254
103.
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9.10
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835
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Cum
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ive
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sjek
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8.39
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045
Jan
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ave
rage
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08
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Jan
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20
97.
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96
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97.
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arch
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Oct
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Febr
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arch
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65
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88
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Febr
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72
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4.3
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s o
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terb
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ay
me
nt
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in t
he
co
un
try
, in
EU
R
66Statistički biltenMaj 2011.
Izvo
r: CB
CG
Ta
be
la 4
.4 -
Up
ore
dn
i po
ka
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telj
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€
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- C
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fig
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s o
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e c
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UR
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NS
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Statistical BulletinMay 2011
67
Izvo
r: CB
CG
Ta
be
la 4
.5 -
Up
ore
dn
i po
ka
za
telj
i vri
jed
no
sti
rea
lizo
va
no
g in
tern
og
pla
tno
g p
rom
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u z
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lji u
€T
ab
le 4
.5 -
Co
mp
ara
tiv
e f
igu
res
of
inte
rna
l pa
ym
en
t
op
era
tio
ns
in t
he
co
un
try
, in
EU
R
Peri
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Uku
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omet
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x
Radn
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ust
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Mar
chA
pril
961
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pril
1
Inde
x
21/
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100
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Peri
odTo
tal
inte
rnal
pay
men
t op
erat
ions
Wor
king
days
Dai
lyav
erag
e
Cash
less
paym
ent
oper
atio
ns
Dai
lyav
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are
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shle
ss P
O
Cash
paym
ent
oper
atio
ns
Dai
lyav
erag
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sh P
O
Sour
ce: C
BM
68Statistički biltenMaj 2011.
Peri
od
Uku
pni
inte
rni n
aloz
iIn
dex
Radn
ida
niD
nevn
ipr
osje
kBe
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ski
nalo
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nevn
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osje
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češć
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zgot
ovin
skih
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ski
nalo
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nevn
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kU
češć
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tovi
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h
12
1/2
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1*10
04
4/2
4/1*
100
2005
2005
Kum
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Cum
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Jan
.-Dec
. pro
sjek
563.
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329.
125
15.6
7358
,43%
234.
139
11.1
4941
,57%
Jan
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ave
rage
2006
2006
Kum
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255
48.5
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Jan
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2007
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Kum
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60.0
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41.5
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Jan
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2008
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Sep
tem
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1.47
8.8
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22
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tem
ber
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1.51
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102
22
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.48
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ober
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May
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1.41
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1.5
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.-Dec
. p
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-Dec
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2011
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2011
Janu
ary
Febr
uar
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Febr
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Mar
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04
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arch
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411.
25
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431
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%A
pril
1
Inde
x
21/
23
3/2
3/1*
100
44/
24/
1*10
0
Peri
odTo
tal
inte
rnal
ord
ers
Wor
king
days
Dai
lyav
erag
eCa
shle
ssor
ders
Dai
lyav
erag
eSh
are
ofca
shle
ss o
rder
sCa
shor
ders
Dai
lyav
erag
eSh
are
ofca
sh o
rder
s
Izvo
r: CB
CGSo
urce
: CBM
Ta
be
la 4
.6 -
Up
ore
dn
i po
ka
za
telj
i o
bim
a r
ea
lizo
va
no
g
inte
rno
g p
latn
og
pro
me
ta u
ze
mlj
i u €
Ta
ble
4.6
- C
om
pa
rati
ve
fig
ure
s o
f in
tern
al
pa
ym
en
t o
pe
rati
on
s in
th
e c
ou
ntr
y, i
n E
UR
Statistical BulletinMay 2011
69
V Realni sektor
Tabela 5.1 - Cijene na malo, troškovi života - potrošačke
cijene i cijene proizvođačkih industrijskih proizvoda
* Od januara 2009. godine troškovi života su zamijenjeni potrošačkom cijenama Izvor: MONSTAT
Cijene na malo Troškovi života* - potrošačke cijene
Cijene proizv. ind. proizvoda
Ukupno Robe Usluge Ukupno Ukupno
Godišnja stopa rasta
Mjesečna stopa rasta
Godišnja stopa rasta
Mjesečna stopa rasta
Godišnja stopa rasta
Mjesečna stopa rasta
Godišnja stopa rasta
Mjesečna stopa rasta
Godišnja stopa rasta
Mjesečna stopa rasta
2001 Dec 28,0 3,5 25,6 4,0 39,5 1,7 26,5 2,5 15,1 4,1 2001 Dec2002 Dec 9,4 0,1 8,7 0,1 12,7 0,0 9,2 0,5 0,7 -0,3 2002 Dec2003 Dec 6,7 0,0 5,1 0,2 14,3 -0,7 6,2 0,3 8,2 0,6 2003 Dec2004 Dec 4,3 1,8 1,1 -0,1 18,1 9,5 1,5 1,6 3,6 -0,4 2004 Dec2005 Dec 1,8 0,1 1,8 0,1 1,8 0,0 2,4 0,2 3,5 0,8 2005 Dec2006 Dec 2,0 0,2 2,0 0,2 2,0 0,0 2,8 0,3 2,9 -0,4 2006 Dec2007 Dec 8,0 0,2 8,0 0,2 8,0 0,0 7,7 0,3 14,5 0,2 2007 Dec2008 Dec 7.3 0.4 5.8 0.5 13.4 0.0 7.2 1.0 7.1 -5.2 2008 Dec2009 Jan 4,9 -0,2 5,7 -1,2 2009 Jan
Feb 5,4 0,7 4,7 0,0 FebMar 5,5 0,4 0,6 -1,6 MarApr 5,4 0,6 0,1 0,3 AprMaj 4,8 0,1 -1,9 -0,5 MayJun 2,8 -0,3 -7,8 -1,1 JuneJul 2,1 -0,6 -9,3 -1,4 JulyAug 3,1 1,1 -9,9 0,6 AugSep 1,7 -0,3 -8,6 0,7 SepOkt 1,7 0,0 -8,1 0,5 OctNov 2,3 0,0 -7,2 0,3 NovDec 1,5 0,1 -3,4 0,3 Dec
2010 Jan 0,8 -0,3 -6,4 -2,4 2010 JanFeb 0,2 0,1 -6,2 -0,8 FebMar 0,7 0,4 -4,6 -0,5 MarApr 0,4 0,1 -3,4 1,5 AprMaj 0,3 -0,1 1,1 3,8 MayJun 0,2 -0,4 2,2 -0,7 JuneJul 1,0 0,2 2,9 -0,9 JulyAvg -0,1 0,1 2,5 0,3 AugSep 0,3 0,1 1,6 0,2 SepOkt 0,6 0,2 0,7 -0,3 OctNov 0,8 0,2 0,3 0,0 NovDec 0,7 0,1 0,4 0,3 Dec
2011 Jan 1,1 0,3 2,8 1,6 2011 JanFeb 2,0 1,0 4,5 0,8 FebMar 3,7 2,0 5,6 0,4 MarApr 3,7 0,0 4,7 0,0 Apr
Annual growth rate
Monthly growth
rate
Annual growth rate
Monthly growth rate
Annual growth rate
Monthly growth rate
Annual growth rate
Monthly growth
rate
Annual growth rate
Monthly growth
rate
Total Goods Services Total Total
Retail prices Cost of Living Index*- Consumer price Producer Price Index
Table 5.1 - Retail Price Index, Cost of Living Index- CP,
and Producers Prices
* As of January 2009 inflation is measured using CPISource: MONSTAT
V Real Sector Developments
Tabela 5.2 - BDP u Crnoj Gori,
u 000 000 eura
* Izvor: MONSTAT** Izvor: Procjena Ministarstva finansija
Table 5.2 - Montenegro’s GDP,
(EUR million)
* Source: MONSTAT**Source: Estimates by Ministry of finance
I-XII realni rast
2000* 1.065,7
2001* 1.295,1 1,10%
2002* 1.360,4 1,90%
2003* 1.510,1 2,50%
2004* 1.669,8 4,40%
2005* 1.815,0 4,20%
2006* 2.149,0 8,60%
2007* 2.680,5 10,70%
2008* 3.085,6 6,90%
2009* 2.981,0 -5,70%
2010** 3.025,0 1,10%
2011** 3.192,0 2,50%
I-XII real growth rate
70Statistički biltenMaj 2011.
Tabela 5.3 - Industrijska proizvodnja
Izvor: Monstat i kalkulacije CBCG
Ukupno Vađenje ruda i kamena Prerađivačka industrija Proiz.el.energije, gasa i vode
Indeks period na
period2010=100 mjesečna
stopa
Indeks period na
period2010=100 mjesečna
stopa
Indeks period na
period2010=100 mjesečna
stopa
Indeks period na
period2010=100 mjesečna
stopa
2001 99,3 88,5 101,6 93,9 20012002 100,6 107,5 102,3 93,4 20022003 102,4 101,4 97,9 117,5 20032004 113,8 94,9 113,1 121,0 20042005 98,1 100,2 102,5 86,6 20052006 101,0 102,9 100,1 103,1 20062007 100,1 101,5 109,3 72,6 20072008 98,0 117,7 88,7 131,9 20082009 67,8 34,5 61,4 97,6 20092010 117,5 158,7 97,0 151,1 20102008 Jan 122,5 -19,3 161,2 66,0 176,8 -14,5 52,7 -42,6 2008 Jan
Feb 148,1 20,9 214,8 33,2 157,1 -11,1 129,3 145,2 FebMar 141,0 -4,8 169,5 -21,1 182,5 16,1 88,0 -32,0 MarApril 116,7 -17,3 110,5 -34,8 163,0 -10,7 61,7 -29,8 AprilMaj 107,7 -7,7 147,3 33,3 168,3 3,3 30,4 -50,7 MayJun 120,0 11,4 189,0 28,3 162,8 -3,3 60,4 98,5 JuneJul 117,5 -2,1 142,0 -24,9 175,1 7,6 45,3 -24,9 JulyAug 120,9 2,9 281,5 98,3 166,4 -5,0 47,1 4,0 AugSep 140,6 16,3 273,9 -2,7 179,6 8,0 77,8 65,0 SepOkt 118,0 -16,1 226,6 -17,3 171,9 -4,3 40,2 -48,4 OctNov 132,8 12,6 193,2 -14,7 168,9 -1,8 82,6 105,6 NovDec 120,9 -9,0 82,9 -57,1 143,7 -14,9 98,2 18,9 Dec
2009 Jan 116,6 -3,5 74,2 -10,6 104,3 -27,4 136,6 39,1 2009 JanFeb 120,1 3,0 103,7 39,9 104,1 -0,2 141,2 3,4 FebMar 118,6 -1,3 123,5 19,0 132,5 27,3 101,5 -28,1 MarApr 95,4 -19,6 111,0 -10,1 104,3 -21,3 82,8 -18,4 AprMaj 80,5 -15,7 49,5 -55,4 107,8 3,4 51,5 -37,8 MayJun 71,5 -11,1 9,7 -80,4 114,2 5,9 27,9 -45,7 JuneJul 62,8 -12,3 10,4 7,5 102,4 -10,3 21,4 -23,5 JulyAug 56,7 -9,6 16,4 57,9 95,9 -6,4 14,6 -31,4 AugSep 61,5 8,4 101,5 517,8 105,3 9,8 4,2 -71,3 SepOct 73,4 19,4 91,5 -9,9 93,4 -11,3 47,3 1025,8 OctNov 72,3 -1,5 28,7 -68,7 78,2 -16,2 70,3 48,6 NovDec 91,1 26,0 34,9 21,7 93,7 19,7 94,7 34,7 Dec
2010 Jan 103,5 13,5 81,7 133,5 66,0 -29,7 151,0 59,5 2010 JanFeb 92,3 -10,9 65,0 -20,4 74,7 13,3 116,5 -22,9 FebMar 108,3 17,4 71,6 10,3 93,6 25,2 130,5 12,0 MarApr 103,7 -4,2 90,4 26,2 101,5 8,5 108,0 -17,2 AprMaj 93,2 -10,2 60,8 -32,8 94,8 -6,6 95,2 -11,9 MayJun 101,4 8,9 94,1 54,8 113,4 19,6 88,0 -7,6 JuneJul 87,0 -14,3 94,4 0,3 103,6 -8,6 66,0 -24,9 JulyAvg 74,6 -14,2 121,3 28,5 93,9 -9,4 45,9 -30,6 AugSep 95,5 27,9 139,5 15,0 120,0 27,8 60,8 32,5 SepOkt 100,7 5,4 219,2 57,1 113,6 -5,3 70,9 16,8 OctNov 107,3 6,6 82,4 62,4 111,8 -1,6 105,1 48,1 NovDec 132,8 23,7 79,7 -3,3 113,8 1,8 161,9 54,0 Dec
2011 Jan 105,5 -20,5 90,1 13,0 82,2 -27,7 135,3 -16,4 2011 Jan Feb 99,9 -5,3 80,1 -11,1 95,7 16,4 107,3 -20,7 FebMar 97,2 -2,7 87,7 9,5 103,3 7,9 91,1 -15,1 MarApr 82,5 -15,1 89,2 1,7 94,6 -8,4 67,3 -26,1 Apr
Index period on period 2010=100 monthly
growth rate
Index period on
period2010=100 monthly
growth rate
Index period on
period2010=100 monthly
growth rate
Index period on
period2010=100 monthly
growth rate
Total Mining and quarrying Manufacturing industry Production of electricity, gas, water supply
Table 5.3 - Industrial production
Source: Monstat and CBM calculations
Statistical BulletinMay 2011
71
Tabela 5.4 - Šumarstvo i građevinarstvo
Šumarstvo Građevinarstvo
Proizvedeni sortimenti m3
Prodaja sortimenata m3
Vrijednost izvršenih radova u 000 eura
Izvršeni efektivni časovi u 000
2000 297.192 276.528 20002001 253.987 254.679 20012002 229.049 235.786 53.442 5.141 20022003 230.604 229.622 46.239 4.351 20032004 244.558 256.994 54.501 4.514 20042005 279.228 264.951 73.252 5.345 20052006 325.896 - 204.248 8.424 20062007 263.787 - 197.639 8.280 20072008 281.260 - 287.931 9.994 20082009 216.546 - 225.953 8.071 20092010 256.410 - 255.617 8.008 20102008 Jan 5.783 -
Q1
Feb 10.206 -
Mar 9.505 - 47.445 2.205
Apr 14.101 -
Q2
Maj 18.992 -
Jun 19.244 - 80.023 2.574
Jul 27.227 -
Q3
Aug 38.907 -
Sep 45.896 - 83.376 2.676
Okt 50.868 -
Q4
Nov 28.090 -
Dec 12.441 - 77.087 2.539
2009 Jan 1.832 -
Q1
Feb 5.798 -
Mar 3.561 - 43.085 1.946
Apr 14.772 -
Q2
Maj 19.969 -
Jun 25.557 - 58.136 2.153
Jul 25.417 -
Q3
Avg 34.251 -
Sep 33.517 - 63.676 2.065
Oct 20.156 -
Q4
Nov 16.976 -
Dec 14.740 - 61.056 1.907
2010 Jan 2.337 -
Q1
Feb 3.170 -
Mar 6.970 - 34.135 1.708
Apr 13.241 -
Q2
Maj 20.041 -
Jun 36.001 - 58.539 1.975
Jul 32.738 -
Q3
Avg 44.046 -
Sep 42.465 - 64.838 2.019
Okt 26.630 -
Q4
Nov 20.923 -
Dec 7.848 - 98.105 2.306
2011 Jan 2.955 -
Q1*
Feb 8.166 -
Mar 14.098 - 41.826 2.194
Apr 16.910 -
Wood products, m3, manufactured
Wood products, m3, sold
Value of performed work in EUR
thousand
Effective working hours in 000
Forestry Construction
Table 5.4 - Forestry and construction
Izvor: Monstat* Preliminarni podaci
Source: Monstat* Preliminary data
72Statistički biltenMaj 2011.
Tabela 5.5 - Turizam
*KumulativIzvor: Monstat
Dolasci Noćenja
Ukupno Domaći Strani Ukupno Domaći Strani
1996* 657.539 54.217 4.602.624 373.472 1996*1997* 663.270 59.349 4.806.573 428.508 1997*1998* 622.036 55.184 4.558.110 382.461 1998*1999* 297.905 27.886 2.034.634 155.432 1999*2000* 448.187 73.559 3.185.741 434.359 2000*2001* 555.040 446.232 108.808 4.011.413 3.322.984 688.429 2001*2002* 541.699 405.539 136.160 3.689.505 2.777.595 911.910 2002*2003* 599.430 457.643 141.787 3.976.266 3.060.528 915.738 2003*2004* 703.484 515.424 188.060 4.561.094 3.337.247 1.223.847 2004*2005* 820.457 548.452 272.005 5.211.847 3.628.337 1.583.510 2005*2006* 953.928 576.130 377.798 5.936.270 3.740.179 2.196.091 2006*2007* 1.133.432 149.294 984.138 7.294.530 851.045 6.443.485 2007*2008* 1.188.116 156.904 1.031.212 7.794.741 828.462 6.966.279 2008*2009* 1.207.694 163.680 1.044.014 7.552.006 856.332 6.695.674 2009*2010* 1.262.985 175.191 1.087.794 7.964.893 987.033 6.977.860 2010*
2009 Jan 17.564 6.430 11.134 84.398 25.279 59.119 2009 Jan
Feb 19.988 5.562 14.426 88.896 22.507 66.389 Feb
Mar 19.087 4.375 14.712 83.286 17.711 65.575 Mar
Apr 29.724 6.677 23.047 123.582 26.725 96.857 Apr
Maj 75.346 12.604 62.742 359.454 51.364 308.090 May
Jun 114.132 13.659 100.473 741.614 67.059 674.555 June
Jul 306.397 33.096 273.301 1.974.061 196.177 1.777.884 July
Aug 399.753 42.297 357.456 2.934.772 283.130 2.651.642 Aug
Sep 163.036 23.069 139.967 907.092 110.581 796.511 Sep
Oct 33.704 8.083 25.621 143.609 30.899 112.710 Oct
Nov 14.909 3.241 11.668 63.719 16.828 46.891 Nov
Dec 14.054 4.587 9.467 47.523 8.072 39.451 Dec
2010 Jan 14.200 5.062 9.138 57.097 18.620 38.477 2010 Jan
Feb 17.066 4.609 12.457 64.460 17.296 47.164 Feb
Mar 17.206 4.157 13.049 71.289 19.528 51.761 Mar
Apr 25.921 5.097 20.824 97.063 17.740 79.323 Apr
Maj 79.148 13.777 65.371 377.725 62.229 315.496 May
Jun 121.336 15.175 106.161 806.866 91.662 715.204 June
Jul 320.287 40.815 279.472 2.094.307 250.787 1.843.520 July
Avg 432.268 48.203 384.065 3.168.934 338.858 2.830.076 Aug
Sep 175.636 23.242 152.394 991.713 106.856 884.857 Sep
Okt 28.709 6.451 22.258 124.167 30.615 93.552 Oct
Nov 17.116 3.748 13.368 66.778 17.671 49.107 Nov
Dec 14.092 4.855 9.237 44.494 15.171 29.323 Dec
2011 Jan 15.374 5.830 9.544 56.006 20.803 35.203 2011 Jan
Feb 15.840 4.334 11.506 55.751 15.988 39.763 Feb
Mar 18.516 5.292 13.224 70.336 22.362 47.974 Mar
Apr 32.380 5.617 26.763 117.721 21.592 96.129 Apr
Total Domestic Foreign Total Domestic Foreign
Tourist arrivals Tourist overnight stays
Table 5.5 - Tourism
* CumulativeSource: Monstat
Statistical BulletinMay 2011
73
Tabela 5.6 - Zaposleni,
nezaposleni, zarade
Table 5.6 - Employed and unemployed
persons, salaries
*Prosjek** Monstat je od januara 2007. godine promijenio metodologiju izračunavanja prosječnih zarada sa i bez poreza i doprinosa Izvor: Monstat i Zavod za zapošljavanje
*Average**Monstat changed the metodology for calculation of wages (with and withot taxes and contributions)
in January 2007Source: Monstat and Employment Agency
Zaposleni NezaposleniZarade
u eurimaZarade bez poreza
i doprinosa1997* 147.083 63.995 1997*1998* 147.233 68.373 1998*1999* 145.571 75.303 1999*2000* 140.762 84.061 2000*2001* 141.112 81.468 2001*2002* 140.100 80.584 2002*2003* 142.679 71.679 271,03 173,9 2003*2004* 143.479 65.064 302,9 195,4 2004*2005* 144.358 54.457 327 213 2005*2006* 150.800 43.190 433 282 2006*2007* 156.408 34.396 497 338 2007*2008* 166.221 29.535 609 416 2008*2009* 174.152 28.385 643 463 2009*2010* 161.742 31.864 715 479 2010*
2009 Jan 169.305 28.921 655,00 470,00 2009 Jan
Feb 169.670 29.305 650,00 467,00 Feb
Mar 170.607 29.170 642,00 461,00 Mar
Apr 172.549 28.616 647,00 465,00 Apr
Maj 174.218 27.785 651,00 468,00 May
Jun 178.839 27.113 648,00 466,00 June
Jul 178.622 27.048 636,00 457,00 July
Aug 179.016 26.844 641,00 461,00 Aug
Sep 176.936 27.313 631,00 454,00 Sep
Oct 175.468 28.731 633,00 456,00 Oct
Nov 174.736 29.607 633,00 456,00 Nov
Dec 169.859 30.169 653,00 470,00 Dec
2010 Jan 172.301 31.055 702,00 471,00 2010 Jan
Feb 171.557 32.375 691,00 463,00 Feb
Mar 171.263 33.117 693,00 465,00 Mar
Apr 158.211 33.188 693,00 465,00 Apr
May 158.716 32.377 727,00 487,00 May
Jun 159.221 31.324 706,00 473,00 June
Jul 160.224 31.118 696,00 466,00 July
Avg 158.535 30.595 752,00 504,00 Aug
Sep 157.570 31.016 717,00 481,00 Sep
Okt 157.918 31.900 711,00 477,00 Oct
Nov 157.712 32.199 716,00 480,00 Nov
Dec 157.679 32.106 768,00 515,00 Dec
2011 Jan 157.849 32.829 772,00 518,00 2011 Jan
Feb 158.010 33.062 754,00 506,00 Feb
Mar 158.842 32.748 722,00 484,00 Mar
Apr - 32.203 705,00 473,00 Apr
Employed UnemployedAverage salary
in EUR
Average salary without taxes and
contributions
74Statistički biltenMaj 2011.
VI Fiskalni sektor
Tabela 6.1 - Budžet Crne Gore,
u mil. Eura
Izvor: Ministarstvo finansija* podaci sa državnim fondovima** podaci bez državnih fondova
Table 6.1 - Budget of Montenegro,
EUR million
Source: Ministry of Finance* data with state funds
** data do not include state funds
VI Fiscal Developments
O P I S 2006** 2007** 2008* 2009* 2010* Position
POREZI 499,38 708,02 827,97 712,44 675,80 TAXES
Porez na dohodak fizičkih lica 72,49 85,40 111,92 94,99 89,75 Personal income tax
Porez na dobit pravnih lica 12,68 39,08 62,80 54,74 20,27 Corporate income tax
Porez na promet nepokretnosti 7,37 20,59 11,43 5,21 4,94Property tax and Turnover tax on
property Porez na dodatu vrijednost 273,15 393,17 440,06 370,78 364,18 Value aded tax
Akcize 72,38 94,54 120,30 128,68 134,26 Exscise dutiesPorez na medunarodnu trgovinu i transakcije 56,77 68,50 72,93 49,12 50,81 International trade and transaction tax
Ostali porezi 4,54 6,74 8,53 8,92 11,59 Other taxes
DOPRINOSI 0,00 0,00 339,91 307,55 347,61 Contribution Doprinosi za penzijsko i invalidsko osiguranje 213,85 199,51 213,73
Contribution for Pension and disability insurance
Doprinosi za zdravstveno osiguranje 115,86 97,59 118,90 Contribution for health insuranceDoprinosi za osiguranje od nezaposlenosti 9,41 10,45 9,29
Contribution for unemployment insurance
Ostali doprinosi 0,79 0,00 5,69 Other contribution
TAKSE 13,90 18,38 26,59 22,51 20,54 DUES
NAKNADE 17,87 22,90 38,24 28,33 27,43 REIMBURESEMENT
Ostali prihodi 31,55 40,96 45,48 43,62 31,48 OTHER REPUBLIC REVENUES
Primici od otplate kredita 9,31 5,88 9,00 54,81 3,62 Loan repeyement revenues
TEKUĆI PRIHODI: 572,01 796,14 1.287,19 1.169,26 1.106,48 TOTAL CURRENT REVENUES:
Prihodi od privatizacije 6,29 10,82 24,82 107,02 3,72 Revenues from selling properties
Donacije 0,04 0,09 2,24 6,02 1,38 Donations
Pozajmice i krediti od domaćih izvora 0,00 0,00 7,66 108,13 19,99 Borrowings and loans -domestic
Pozajmice i krediti od inostranih izvora 9,05 2,00 2,98 148,64 205,45 Borrowings and loans - foreign
U K U P N I P R I M I C I : 587,39 809,05 1.324,89 1.539,07 1.337,02 TOTAL REVENUES:Bruto zarade i doprinosi na teret poslodavaca 158,59 192,95 274,70 259,16 251,53 Gross salaries and contributions charged
to employerOstala lična primanja 8,16 17,24 21,75 21,65 18,84 Other personal earnings
Rashodi za materijal i usluge 43,27 75,67 114,43 109,96 112,90 Expenditure for material and services
Tekuće održavanje 18,84 20,64 22,15 5,13 28,02 Current maintenance
Kamate 22,37 25,54 22,53 24,51 30,16 Interests
Renta 2,43 4,79 8,36 8,04 8,24 Rent
Subvencije 6,07 13,07 18,59 49,82 39,04 Subsidies
Ostali izdaci 2,42 5,48 5,74 7,63 5,23 Other expenditures
TEKUĆI IZDACI 262,15 355,38 488,25 485,90 493,96 CURRENT EXPENDITURES
Transferi za socijalnu zaštitu 49,88 44,75 346,54 412,47 423,17 Transfers for social protectionTransferi inst. Pojedincima NVO i javnom sektoru 108,32 128,62 213,71 204,67 174,64 Transfers to institutions, individuals, NGI’s
and public sectorKapitalni izdaci 31,63 77,57 148,54 138,88 82,65 Total capital expendituresKapitalni izdaci tekućeg budžeta i državnih fondova 75,17 0,00 19,40
Capital expenditures of current budget and government funds
Kapitalni budžet CG 73,37 0,00 63,25 Capital budget of Montenegro
Pozajmice i krediti 6,70 6,02 62,54 17,65 4,07 Borrowings and loans
Rezerve 27,20 10,84 12,44 10,90 12,59 Reserves
KONSOLIDOVANI IZDACI 486,93 623,18 1.272,07 1.301,36 1.191,08 CONSOLIDATED EXPENDITURES
TEKUĆA BUDŽETSKA POTROŠNJA 455,30 545,61 1.123,53 1.162,48 1.127,83 CURRENT BUDGET EXPENDITURES
Otplata dugova rezidentima 24,09 15,33 48,38 68,90 56,82 Payment of debt to residents
Otplata dugova nerezidentima 14,26 84,15 16,76 25,40 45,34 Payment of debt to nonresidents
Otplata dugova iz prethodnog perioda 54,78 44,10 57,78 29,12 113,66 Payment og liabilities from the previous period
Otplata garancija 1,05 0,00 0,05 1,77 0,00 Payment of gaurantees
U K U P N I I Z D A C I 581,11 766,76 1.395,04 1.426,55 1.406,90 TOTAL EXPENDITURES
SUFICIT/DEFICIT 85,08 172,96 15,12 -132,10 -84,60 DEFICIT/SURPLUS
2006** 2007** 2008* 2009* 2010*
Statistical BulletinMay 2011
75
Tabela 6.2 - Prihodi i rashodi državnih fondova Crne Gore,
u mil. Eura
Izvor: Ministarstvo finansija, Republički fond PIO, Republički fond zdravstva, Investiciono-razvojni fond, Zavod za zapošljavanje RCG* IRF Crne Gore počeo sa radom u januaru 2010. godine. Ranije poslovao kao Fond za razvoj RCG** Fond rada počeo sa radom u februaru 2010. godine
Table 6.2 - Revenues and expenditures of Government funds,
EUR million
Source: Ministry of Finance, Pension and Disability Insurance Fund of Montenegro, Health Fund of Montenegro, Investment and Development
Fund, Employment Bureau* Investment and Development Fund started to operate in January 2010.
Previously operated as the Development Fund of Montenegro.** Labour fund started to operate in february 2010
2008 2009 2010
Republički fond PIO Pension Fund
Prihodi 288,55 371,30 336,20 Revenues
Rashodi 287,97 380,10 366,20 Expenditures
Saldo 0,58 -8,80 -30,00 Result
Republički fond za zdravstveno osiguranje
Health Care Fund
Prihodi 183,41 168,09 168,62 Revenues
Rashodi 171,80 177,89 168,62 Expenditures
Saldo 11,61 -9,80 0,00 Result
Zavod za zapošljavanje Employment Bureau
Prihodi 18,82 34,94 35,16 Revenues
Rashodi 30,44 31,97 31,91 Expenditures
Saldo -11,62 2,97 3,25 Result
Investiciono-razvojni fond CG* *Investment and Development Fund
Prihodi 5,78 2,93 5,34 Revenues
Rashodi 0,87 4,70 1,35 Expenditures
Saldo 4,91 -1,77 3,99 Result
Fond za obeštećenje Restitution Fund
Prihodi 6,92 2,05 1,87 Revenues
Rashodi 6,92 2,05 1,87 Expenditures
Saldo 0,00 0,00 0,00 Result
Fond rada** **Labour Fund
Prihodi Revenues
Rashodi Expenditures
Saldo 0,00 0,00 0,00 Result
Ukupno Total
Prihodi 503,48 579,31 547,19 Revenues
Rashodi 498,00 596,71 569,95 Expenditures
Saldo 5,48 -17,40 -22,76 Saldo
76Statistički biltenMaj 2011.
Tabela 6.3 - Primici Budžeta Crne Gore i
državnih fondova,
u mil. Eura
Table 6.3 - Budget Revenues of the Republic
of Montenegro and State-owned Funds,
EUR million
Izvor: Ministarstvo finansija Source: Ministry of Finance
O P I S IV 2010IV 2011
planIV 2010
ostvarenjeDESCRIPTION
POREZI 54,57 56,02 54,85 TAXES
Porez na dohodak fizičkih lica 7,05 7,08 6,75 Personal income tax
Porez na dobit pravnih lica 5,38 4,39 10,75 Corporate income tax
Porez na imovinu 0,44 0,15 0,07 Property tax and Turnover tax on property
Porez na dodatu vrijednost 28,09 29,26 24,45 Value aded tax
Akcize 8,26 10,63 9,09 Exscise
Porez na medunarodnu trgovinu i transakcije 4,37 4,30 3,38 International trade and transaction tax
Ostali republički porezi 0,97 0,21 0,35 Other Repulic taxes
DOPRINOSI 30,44 28,17 29,76 CONTRIBUTION
Doprinosi za penzijsko i invalidsko osiguranje 19,35 17,25 18,13 Contribution for Pension and disability insurance
Doprinosi za zdravstveno osiguranje 9,68 9,83 10,16 Contribution for health insurance
Doprinosi za osiguranje od nezaposlenosti 0,99 0,84 0,94 Contribution for unemployment insurance
Ostali doprinosi 0,42 0,26 0,52 Other contribution
TAKSE 1,89 1,83 1,29 DUTIES
NAKNADE 2,10 2,00 1,55 FEES
OSTALI PRIHODI 2,91 2,43 1,67 Other revenues
Primicii od otplate kredita 0,49 0,62 0,38 Loans repayment revenues
UKUPNI TEKUĆI PRIHODI: 92,40 91,07 89,50 TOTAL CURRENT REVENUES
IV 2010IV 2011
planIV 2011realized
Statistical BulletinMay 2011
77
Tabela 6.4 - Konsolidovani izdaci Budzeta Crne
Gore i državnih fondova,
u mil. Eura
Izvor: Ministarstvo finansija Source: Ministry of Finance
Table 6.4 - Consolidated Budget expenditures of the
Republic of Montenegro and State-owned Funds,
EUR million
O P I S IV 2010IV 2011
ostvarenjeDESCRIPTION
Tekući izdaci 44,57 50,77 Current expenses
Bruto zarade i doprinosi na teret poslodavca 27,04 35,92 Gross salaries and contributions charged to employer
Rashodi za materijal i usluge 7,13 7,29 Expenditures for material and services
Kamate 1,71 0,85 Interest expenses
Subvencije 3,35 1,6 Subsidies
Kapitalni izdaci u tekućem budžetu 0,77 1 Capital expenses
Ostali tekući izdaci 4,57 4,11 Other current expenses
Transferi za socijalnu zaštitu 34,72 39,89 Transfers for social security
Prava iz oblasti socijalne zaštite 4,17 5,48 Social security related rights
Sredstva za tehnološke viškove 2,04 2,53 Funds for redundancy
Prava iz oblasti penzijskog i invalidskog osiguranja 27,13 29,82 Pension and disability insurance rights
Ostala prava iz oblasti zdravstvene zaštite 0,62 1,28 Other health care rights
Ostala prava iz oblasti zdravstvenog osiguranja 0,76 0,78 Other health care insurance rights
Transferi javnim institucijama, NVO 13,36 5,91 Transfers to institutions, NGO
Kapitalni budžet 2,21 2,04 Capital Budget
Ostali izdaci 1,07 1,75 Other expenditures
Konsolidovani izdaci 95,93 100,36 Consolidated expenditures
IV 2010IV 2011realized
78Statistički biltenMaj 2011.
VII Međunarodne komparacije
Izvo
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VII International Comparison
Euro
zona
III
IIIIV
V VI
VII
VIII
IXX
XIXI
II
IIIII
IVV
VIVI
IVI
IIIX
XXI
XII
III
IIIIV
Euro
zone
'09
'09
'09
'09
'09
'09
'09
'09
'09
'09
'09
'09
'10
'10
'10
'10
'10
'10
'10
'10
'10
'10
'10
'10
'11
'11
'11
'11
Belg
ija4
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4,2
44
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3,9
34
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4,1
23
,92
3,7
73
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3,6
83
,64
3,6
13
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3,7
33
,63
3,5
43
,31
3,4
73
,29
3,0
33
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3,2
13
,48
3,9
94
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4,2
14
,21
4,2
9Be
lgiu
m
Nje
mač
ka3
,07
3,1
33
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3,1
35
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5,3
33
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3,3
13
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3,2
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3,1
43
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73
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3,0
62
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2,5
42
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2,3
52
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2,3
52
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2,9
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3,2
03
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erm
any
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5,2
05
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5,7
65
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5,2
75
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5,4
54
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4,9
14
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4,8
24
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4,8
34
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4,5
34
,76
4,8
65
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5,3
25
,30
6,1
46
,42
8,2
28
,45
8,7
59
,10
9,6
79
,79
Irela
nd
Grč
ka
5,6
05
,70
5,8
75
,50
5,2
35
,53
4,8
94
,52
4,5
64
,57
4,8
45
,49
6,0
26
,46
6,2
47
,83
7,9
79
,10
10
,34
10
,70
11
,34
9,5
71
1,5
21
2,0
11
1,7
31
1,4
01
2,4
41
3,8
6G
reec
e
Špan
ija4
,15
4,2
34
,06
4,0
14
,06
4,2
54
,01
3,7
93
,81
3,7
83
,79
3,8
13
,99
3,9
83
,83
3,9
04
,08
4,5
64
,43
4,0
44
,09
4,0
44
,69
5,3
85
,38
5,2
65
,25
5,3
3Sp
ain
Fran
cusk
a3
,60
3,6
83
,65
3,6
63
,80
3,9
03
,73
3,5
93
,59
3,5
63
,56
3,4
83
,52
3,5
03
,44
3,4
03
,08
3,0
72
,99
2,6
82
,68
2,7
23
,00
3,3
43
,44
3,6
03
,61
3,6
9Fr
ance
Italij
a4
,62
4,5
44
,46
4,3
64
,42
4,6
14
,37
4,1
24
,09
4,1
04
,06
4,0
14
,08
4,0
53
,94
4,0
03
,99
4,1
04
,03
3,8
03
,86
3,8
04
,18
4,6
04
,73
4,7
44
,88
4,8
4Ita
ly
Luks
embu
rg4
,18
4,3
34
,60
4,6
04
,59
4,7
44
,48
4,1
53
,94
3,8
53
,87
3,8
03
,74
3,6
93
,60
3,5
13
,40
3,0
12
,98
2,6
52
,67
2,7
32
,94
3,3
23
,30
3,4
53
,47
3,5
8Lu
xem
bour
g
Hol
andi
ja3
,76
3,8
03
,66
3,7
73
,85
3,9
63
,76
3,6
13
,58
3,5
33
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3,4
43
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3,3
63
,37
3,3
23
,02
2,9
02
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2,5
62
,52
2,5
82
,79
3,1
63
,23
3,4
13
,42
3,6
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ethe
rland
s
Aus
tria
3,8
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4,0
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3,8
74
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3,7
93
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3,4
93
,43
3,3
43
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3,3
23
,20
3,0
43
,48
3,2
13
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3,0
72
,77
2,8
02
,82
3,0
13
,43
3,5
43
,68
3,6
83
,76
Aus
tria
Port
ugal
4,3
24
,52
4,6
84
,53
4,2
94
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4,2
53
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3,9
33
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3,8
03
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4,1
74
,56
4,3
14
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5,0
25
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5,4
95
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6,0
86
,05
6,9
16
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6,9
57
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7,8
09
,19
Port
ugal
Fins
ka3
,87
3,9
33
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3,7
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3,9
83
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3,6
33
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3,5
73
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3,4
63
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3,3
83
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3,3
63
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2,9
22
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2,6
22
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2,6
32
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3,1
93
,27
3,4
13
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3,5
7Fi
nlan
d
Slov
enija
4,7
04
,87
4,7
14
,77
4,7
64
,69
4,3
34
,07
3,9
63
,86
3,8
73
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4,0
03
,84
3,9
43
,94
3,8
23
,83
3,8
73
,67
3,6
43
,56
3,7
74
,11
4,2
94
,26
4,3
04
,53
Slov
enia
Kipa
r4
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
04
,60
4,6
0Cy
par
Mal
ta4
,35
4,5
34
,58
4,6
34
,71
4,7
94
,61
4,5
14
,49
4,4
44
,45
4,4
14
,50
4,4
94
,33
4,1
84
,14
4,1
34
,13
4,0
13
,90
3,9
04
,12
4,4
24
,51
4,6
04
,68
4,7
3M
alta
Slov
ačka
4,6
94
,76
4,7
04
,93
5,0
35
,08
5,0
44
,90
4,6
54
,33
4,2
34
,12
4,1
14
,08
4,0
13
,93
3,8
23
,73
3,9
33
,73
3,5
93
,67
3,8
04
,06
4,1
64
,24
4,3
24
,33
Slov
akia
Crna
Gor
a-
-4,
43-
--
--
3,96
3,00
--
--
3,95
3,50
--
-3,
363,
432,
58-
--
2,64
2,90
2,72
Mon
tene
gro
Statistical BulletinMay 2011
79
Tabela 7.2 - Inflacija u zemljama
Zapadnog Balkana, u %
Table 7.2 - Inflation in Western
Balkan countries
Source: National Central Banks* cost of living
** Consumer prices
Izvori: Nacionalne centralne banke* Troškovi života** Potrošačke cijene
ZemljaInflacija (u%)
Srbija BiH Hrvatska Makedonija Albanija Crna Gora2005 16,5 3,7 3,6 1,2 2,0 1,8
2006 6,6 n.a 2 2,9 1,8 2
I 2007 0,4 n.a 0,3 0,1 1,81 0,3
II 2007 0,1 n.a 0,3 -0,1 0,53 0,1
III 2007 0,8 n.a 0,6 0,6 0,44 0,2
IV 2007 0,9 n.a 0,7 0,7 -0,26 0,4
V 2007 1,4 0,2 0,5 0,4 -0,8 0,6
VI 2007 0,6 -0,03 -0,4 0,1 -0,8 -0,6
VII 2007 0,6 -0,04 0,6 0,3 -0,62 1,7
VIII 2007 1,2 0,5 0,8 0,6 -0,27 0,6
IX 2007 0,8 0,8 1,2 0,9 0,9 2,1
X 2007 0,6 0,3 0,5 0,09 0,7
XI 2007 1,1 1
XII 2007 1,3 1,1 0,2 0,3
I 2008 0,9 1,4 1,4
II 2008 0,7 0,4 -0,1 0,1
III 2008 1,2 1 0,6 0,8 0,1 0,4
IV 2008 1,1 -0,4 0,7 0,4 -0,2 1,2
V 2008 1,1 0,9 1,1 0,4 -0,2 1
VI 2008 1 0,9 1,1 0,4 -0,2 1,2
VII 2008 0,1 0,1 0,1 0,2 0,1 -0,4
VIII 2008 0,2 0,1 0,6 0,2 0,6 0,3
IX* 2008 0,9 0,1 0,2 -0,2 1,1 1,0
X* 2008 1,1 0,7 -0,1 0,7 0,1 0,0
XI* 2008 0,0 -0,6 -0,1 0,2 -0,1 -0,2
XII* 2008 -0,8 -0,6 -0,6 0,1 0,9 1,0
I** 2009 2,4 -0,1 0,3 -0,1 0,4 -0,2
II 2009 1,3 0,1 0,6 -0,1 0,7 0,7
III 2009 0,4 -0,1 0,2 0,1 0,6 0,4
IV 2009 1,0 -1,0 0,8 -0,2 -0,1 0,6
V 2009 1,6 -0,1 0,4 -0,1 -0,8 0,1
VI 2009 0,1 0,1 0,5 -0,4 -0,6 -0,3
VII 2009 -0,9 0,3 0,4 -0,2 -0,72 -0,6
VIII 2009 -0,1 -0,2 -0,1 -0,3 0,6 1,1
IX 2009 0,3 0,1 -0,2 -0,1 0,799 -0,3
X 2009 -0,2 0,7 0,1 -0,4 0,398 0,0
XI 2009 0,8 0,1 0,4 0,3 0,4 0,0
XII 2009 -0,2 0,1 -0,6 1,0 1,6 0,1
I 2010 0,6 1,4 0,5 0,7 0,9 -0,3
II 2010 0,3 0,1 0,2 0,4 1,1 0,1
III 2010 1,1 0,2 0,4 0,5 0,1 0,4
IV 2010 0,6 -0,7 0,4 0,6 -0,4 0,1
V 2010 1,5 0,0 0,2 -0,6 -1,2 -0,1
VI 2010 0,4 0,0 -0,1 0,2 -0,7 -0,4
VII 2010 0,0 0,0 -0,4 -0,4 -0,5 0,2
VIII 2010 1,4 -0,2 -0,2 0,1 0,8 0,1
IX 2010 1,3 0,3 0,3 0,1 0,7 0,1
X 2010 1,0 0,9 0,1 0,3 0,2 0,2
XI 2010 1,5 0,3 0,3 0,4 0,2 0,2
XII 2010 0,3 0,8 0,0 0,7 2,2 0,1
I 2011 1,4 1,5 0,6 0,9 0,8 0,3
II 2011 1,5 0,7 0,5 0,9 2,3 1,0
III 2011 2,6 0,7 0,8 1,7 -0,1 2,0
IV 2011 1,1 -0,6 0,2 0,3 -0,6 0,0
CountrySerbia BiH Croatia Macedonia Albania Montenegro
Inflation (in%)
80Statistički biltenMaj 2011.
Zem
ljeI ’
09
I ’08
II ’0
9
II ’0
8
III ’0
9
III ’0
8
I V ’0
9
I V ’0
8
V ’0
9
V ’0
8
VI ’
09
VI ’
08
VII
’09
VII
’08
VIII
’09
VIII
’08
IX ’0
9
IX ’0
8
X ’0
9
X ’0
8
XI ’0
9
XI ’0
8
XII ’
09
XII ’
08
I ’10
I ’09
II ’1
0
II ’0
9
III ’1
0
III ’0
9
IV ’1
0
IV ’0
9
V ’1
0
V ’0
9
VI ’1
0
VI ’0
9
VII ’
10
VII ’
09
VIII
’10
VIII
’09
IX ’1
0
IX ’0
9
X ’1
0
X ’0
9
XI ’1
0
XI ’0
9
XII ’
10
XII ’
09
I ’11
I ’10
II ’1
1
II ’1
0
III ’1
1
III ’1
0
IV ’1
1
IV ’1
0Co
untr
ies
EU 2
71
,81
,71
,31
,20
,80
,60
,20
,60
,30
,51
,01
,51
,71
,41
,92
,02
,01
,92
,12
,02
,22
,32
,32
,72
,82
,93
,13
,2EU
27
EU 1
51
,11
,20
.6p
0,6
0,0
-0,1
-0,7
-0,2
-0,3
-0,1
0,5
0,9
1,0
0,9
1,5
1,5
1,6
1,4
1,7
1,6
1,8
1,9
1,9
2,2
2,3
2,4
2,7
2,8
EU 1
5
Aus
trija
1,2
1,4
0.7
p0
,50
,1-0
,3-0
,40
,20
,00
,10
,61
,11
,20
,91
,81
,81
,71
,81
,71
,61
,72
,01
,82
,22
,53
,13
,33
,7A
ustr
ia
Belg
ija
2,1
1,9
0,6
0,7
-0,2
-1,0
-1,7
-0,7
-1,0
-0,9
0,0
0,3
0,8
0,8
1,9
2,1
2,5
2,7
2,4
2,4
2,9
3,1
3,0
3,4
3,7
3,5
3,5
3,3
Belg
ium
Buga
rska
6,0
5,4
4,0
3,8
3,0
2,6
1,0
1,3
0,2
0,3
0,9
1,6
1,8
1,7
2,4
3,0
3,0
2,5
3,2
3,2
3,6
3,6
4,0
4,4
4,3
4,6
4,6
3,3
Bulg
aria
Kip
ar
0,9
0,6
0,9
0,6
0,5
0,1
-0,8
-0,9
-1,2
-1,0
1,0
1,6
2,5
2,8
2,3
2,5
1,8
2,1
2,7
3,4
3,6
3,2
1,7
1,9
3,0
3,1
3,2
3,5
Cypr
us
Češk
a1
,41
,31
,71
,30
,90
,8-0
,10
,0-0
,3-0
,60
,20
,50
,40
,40
,40
,91
,01
,01
,61
,51
,81
,81
,92
,31
,91
,91
,91
,6C
zech
Rep
.
Dan
ska
1,7
1,7
1,6
0,8
0,0
0,0
0,7
0,7
0,5
0,6
0,9
1,2
1,9
1,8
2,1
2,4
1,9
1,7
2,1
2,3
2,5
2,4
2,5
2,8
2,6
2,6
2,5
2,8
Den
mar
k
Esto
nija
4,7
3,9
2,5
0,9
1,1
0,9
-0,4
-0,7
-1,7
-2,1
-2,1
-1,9
-1,0
-0,3
1,4
2,5
2,8
3,4
2,8
2,8
3,8
4,5
5,0
5,4
5,1
5,5
5,1
5,4
Esto
nia
Fins
ka2
,52
,72
,02
,11
,51
,61
,21
,31
,10
,61
,31
,81
,61
,31
,51
,61
,41
,31
,31
,31
,42
,32
,42
,83
,13
,53
,53
,4Fi
nlan
d
Fran
cusk
a0
,81
,00
,40
,1-0
,3-0
,6-0
,8-0
,2-0
,4-0
,30
,81
,01
,21
,41
,71
,91
,91
,71
,91
,61
,81
,81
,82
,02
,01
,82
,22
,2Fr
ance
Grč
ka2
,01
,81
,51
,10
,70
,70
,71
,00
,71
,22
,12
,62
,32
,93
,94
,75
,35
,25
,55
,65
,75
,24
,85
,24
,94
,24
,33
,7G
reec
e
Irska
1,1
0,1
-0,7
-0,7
-1,7
-2,2
-2,6
-2,4
-3,0
-2,8
-2,8
-2,6
-2,4
-2,4
-2,4
-2,5
-1,9
-2,0
-1,2
-1,2
-1,0
-0,8
-0,8
-0,2
0,2
0,9
1,2
1,5
Irela
nd
Italij
a 1
,41
,51
,11
,20
,80
,6-0
,10
,10
,40
,30
,81
,11
,31
,11
,41
,61
,61
,51
,81
,81
,62
,01
,92
,11
,92
,12
,82
,9Ita
ly
Leto
nija
9,7
9,4
7,9
5,9
4,4
3,1
2,1
1,5
0,1
-1,2
-1,4
-1,4
-3,3
-4,3
-4,0
-2,8
-2,4
-1,6
-0,7
-0,4
0,3
0,9
1,7
2,4
3,5
3,8
4,1
4,3
Latv
ia
Litv
anija
9
,58
,57
,45
,94
,93
,92
,62
,22
,31
,01
,31
,2-0
,3-0
,6-0
,40
,20
,50
,91
,71
,81
,82
,62
,53
,62
,83
,03
,74
,4Li
thua
nia
Luks
embu
rg
0,0
0,7
-0,3
-0,3
-0,9
-1,0
-1,5
-0,2
-0,4
-0,2
1,7
2,5
3,0
2,3
3,2
3,1
3,1
2,3
2,9
2,5
2,6
2,9
2,5
3,1
3,4
3,9
4,0
4,0
Luxe
mb
ourg
Mađ
arsk
a 2
,42
,92
,83
,23
,83
,74
,95
,04
,84
,25
,25
,46
,25
,65
,75
,74
,95
,03
,63
,63
,74
,34
,04
,64
,04
,24
,64
,4H
unga
ry
Mal
ta3
,13
,53
,94
,03
,42
,80
,81
,00
,8-0
,5-0
,1-0
,41
,20
,70
,60
,81
,81
,82
,53
,02
,42
,23
,44
,03
,32
,72
,82
,4M
alta
Hol
andi
ja1
,71
,91
.8p
1,8
1,5
1,4
-0,1
-0,1
0,0
0,4
0,7
0,7
0,4
0,4
0,7
0,6
0,4
0,2
1,3
1,2
1,4
1,4
1,4
1,8
2,0
2,0
2,0
2,2
Net
herla
nds
Nje
mač
ka
0,9
1,0
0,4
0,8
0,7
0,7
-0,7
-0,1
-0,5
-0,1
0,4
0,8
0,8
0,5
1,2
1,0
1,2
0,8
1,2
1,0
1,3
1,3
1,6
1,9
2,0
2,2
2,3
2,7
Ger
man
y
Poljs
ka
3,2
3,6
4,0
4,3
4,2
4,2
4,5
4,3
4,0
3,8
3,8
3,8
3,9
3,4
2,9
2,7
2,3
2,4
1,9
1,9
2,5
2,6
2,6
2,9
3,5
3,3
4,0
4,1
Pola
nd
Port
ugal
0
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Statistical BulletinMay 2011
81
Tabela 7.4 - Osnovni makroekonomski pokazatelji u
izabranim tranzicionim zemljama
Table 7.4 - Main macroeconomic indicators
of some countries in transition
* Compared to the same period of the previous yearSource: National central banks
*U odnosu na isti period prošle godineIzvor: Nacionalne centralne banke
Zemlja 2005 2006 2007 2008 2009 2010 Countries
Rast BDP*
Srbija 5,6 5,2 6,9 5,5 -3,0 1,8 Serbia
GDP
growth*
Hrvatska 4,2 4,7 5,5 2,4 -5,8 -1,4 Croatia
Makedonija 4,4 5,0 6,1 5,0 -0,9 0,7 FYR Macedonia
Crna Gora 4,2 8,6 10,7 6,9 -5,7 1,1 Montenegro
Spoljni dug
Srbija 64,3 63,9 61,8 65,2 75,0 79,6 Serbia
External
debt*
Hrvatska 72,1 74,9 76,9 82,6 95,0 Croatia
Makedonija 52,5 47,9 47,6 49,2 56,6 62,4 FYR Macedonia
Crna Gora 28,3 23,5 17,2 15,6 23,5 30,2 Montenegro
Budžetski
deficit
(u% BDP)
Srbija 0,3 -1,9 -1,7 -1,8 -3,1 -4,2 Serbia
Fiscal
deficit*
(% of GDP)
Hrvatska -3,5 -2,6 -2,0 -1,8 -4,3 Croatia
Makedonija 0,2 -0,5 0,6 -0,9 -2,7 -2,5 FYR Macedonia
Crna Gora -1,66 3,29 6,57 0,49 -4,4 -2,8 Montenegro
82Statistički biltenMaj 2011.
Metodologija
Metodološke napomene o Monetarnoj statistici
Tabele 1.1 – 1.15
Izvori podataka za izradu monetarne statistike su: bilansi Centralne banke Crne Gore, bi-lansi banaka i mikrokreditnih finansijskih institucija.
Banke i mikokreditne finansijske institucije dostavljaju podatke u skladu sa Odlukom o iz-vještajima koji se dostavljaju CBCG u skladu sa Zakonom o bankama1 Ovom odlukom propisana je oblik, vrsta, sadržaj i rokovi u kojima banke, odnosno MFI dostavljaju izvješta-je CBCG o svom finansijskom stanju i poslovanju.
Svi monetarni pregledi (Tabele 1.1- 1.15) prikazuju stanje pozicija bilansa stanja i uspjeha CBCG, banaka i MFI na poslednji dan u mjesecu/godini.
Monetarni pregled - Bilans Centralne banke Crne Gore
Tabela 1.1.
U pregledu su prikazana potraživanja i obaveze Centralne banke Crne Gore.
Neto strana aktiva CBCG predstavlja razliku potraživanja i obaveza prema nerezidentima. Potraživanja od nerezidenata obuhvataju držanje SDR i kamate i naknade za držanje SDR, gotovinu u trezoru, depozite CBCG kod ino-banaka, ulaganja u strane HOV, potraživanja po osnovu članstva u međunarodnim finansijskim institucijama i ostala potraživanja. Obaveze CBCG prema nerezidentima vezane su za članstvo u međunarodnim finansijskim institucijama.
Potraživanja CBCG od banaka odnose se na potraživanja po osnovu odobrenih kredita iz primarne emisije od strane monetarne ustanove prethodnice CBCG (čija je potraživanja i obaveze naslijedila CBCG), potraživanja kamata od domaćih banaka i ostala potraživanja. Obaveze CBCG prema bankama obuhvataju obračunski račun banaka kod CBCG, izdvo-jenu obaveznu rezervu i obaveze za obračunatu kamatu na dio izdvojene obavezne rezer-ve.
Neto potraživanja CBCG od centralne Vlade predstavljaju razliku potraživanja i obaveza prema centralnoj Vladi. Potraživanja od centralne Vlade obuhvataju potraživanja po osno-vu odobrenih kredita od strane monetarne ustanove prethodnice CBCG (čija je potraživa-nja i obaveze naslijedila CBCG) i ostala potraživanja. Obaveze prema centralnoj Vladi obu-hvataju depozite po viđenju i oročene depozite centralne Vlade kod CBCG.
Potraživanja CBCG od ostalih sektora odnose se na potraživanja iz poslovnih aktivnosti od nebankarskih domaćih sektora.
Neto ostale stavke obuhvataju depozite isključene iz novčane mase (depozite banaka u ste-čaju i likvidaciji i neraspoređena sredstva) i neto poziciju ostalih obaveza i ostale aktive CBCG.
1„Sl.list Crne Gore”, br. 68/08, 15/09 i 41/09
Statistical BulletinMay 2011
83
Methodology
Methodological Remarks about Monetary Statistics
Tables 1.1 – 1.15
The sources of data for the preparation of monetary statistics are balance sheets of the Central Bank of Montenegro, commercial banks and micro-credit financial institutions.
Banks and micro-credit financial institutions (MFIs) submit their data in accordance with the Decision on Reports to be submitted to the Central Bank of Montenegro Pursuant to the Banking Law1. This Decision prescribes the type, form, content, and time periods for the submission of reports on the financial condition and business operations of banks and micro-credit financial institutions.
All monetary overviews (Tables 1.1 – 1.15) show the balance sheets and income statements of the Central Bank of Montenegro, banks and MFIs as at the last day in a month/year.
Monetary Overview – Balance Sheet of the Central Bank of Montenegro
Table 1.1
The overview shows assets and liabilities of the Central Bank of Montenegro.
CBM net foreign assets represent the difference between claims on, and liabilities to, non-residents. CBM claims on non-residents include SDR holdings and interest and remunerations on SDR holdings, cash in vault, CBM deposits in foreign banks, investments in foreign securities, claims arising from the membership in international financial institutions and other claims. CBM liabilities to non-residents arise from its membership of international financial institutions.
CBM claims on banks refer to claims arising from loans granted from the primary issue by the monetary predecessor of the Central Bank of Montenegro (whose claims and liabilities were inherited by the CBM), interest claims on domestic banks, and other claims. The CBM liabilities to banks include banks` settlement accounts with the CBM, allocated reserve requirements, and liabilities for interest calculated on a part of the allocated reserve requirements.
CBM net claims on the Central Government represent the difference between claims on, and liabilities to, the Central Government. Claims on the Central Government refer to claims arising from loans granted by the monetary predecessor of the Central Bank of Montenegro (whose claims and liabilities were inherited by the CBM), and other claims. The CBM liabilities to the Central Government include demand deposits and time deposits by the Central Government held with the CBM.
The CBM claims on other sectors are receivables from business operations of the nonbanking domestic sectors.
Other items net include deposits excluded from the money supply (deposits by banks under bankruptcy and liquidation and undisbursed funds), and the net position of other liabilities and assets of the CBM.
1 OGM 68/08, 15/09 and 41/09
84Statistički biltenMaj 2011.
Depoziti po viđenju položeni kod CBCG obuhvataju depozite domaćih finansijskih insti-tucija, osim banaka.
Ukupan kapital CBCG obuhvata osnivački kapital CBCG, neraspoređenu dobit i rezerve i dobit iz tekućeg perioda.
Monetarni pregled – Bilans banaka
Tabela 1.2.
U pregledu su prikazana potraživanja i obaveze banaka koje posluju u CG.
Neto strana aktiva banaka predstavlja razliku potraživanja i obaveza prema nerezidentima. Potraživanja od nerezidenata obuhvataju gotovinu u trezoru, depozite banaka kod ino-ba-naka/finansijskih institucija, ulaganja u strane HOV i kredite odobrene nerezidentima. Obaveze banaka prema nerezidentima obuhvataju depozite nerezidenata, obaveze po osno-vu HOV i obaveze po osnovu kredita koje banke koriste od inobanaka/finansijskih institu-cija.
Potraživanja banaka od CBCG odnose se na potraživanja po osnovu obračunskog računa i izdvojene obavezne rezerve. Obaveze banaka prema CBCG obuhvataju obaveze po osno-vu kredita koji je odobrila monetarna ustanova prethodnica CBCG.
Neto potraživanja banaka od centralne Vlade predstavljaju razliku potraživanja i obaveza prema centralnoj Vladi. Potraživanja od centralne Vlade obuhvataju potraživanja po osno-vu kupljenih državnih zapisa i odobrenih kredita. Obaveze prema centralnoj Vladi obuhva-taju depozite po viđenju i oročene depozite centralne Vlade kod banaka.
Potraživanja banaka od ostalih sektora odnose se na potraživanja od nebankarskih doma-ćih sektora po osnovu odobrenih kredita i hartija od vrijednosti.
Neto ostale stavke obuhvataju zaduženje banaka od domaćih nebankarskih sektora, neto poziciju ostalih obaveza i ostale aktive banaka i konsolidovana prilagođavanja između ba-naka.
Depoziti kod domaćih banaka obuhvataju depozite po viđenju i oročene depozite domaćeg nebankarskog sektora, isključujući centralnu Vladu.
Ukupan kapital banaka obuhvata osnivački kapital banaka, neraspoređenu dobit i rezerve i dobit iz tekućeg perioda.
Monetarni pregled
Tabela 1.3.
U pregledu su prikazana konsolidovana potraživanja i obaveze bankarskog sektora CG – Centralne banke Crne Gore i banaka.
Agregatni bilans stanja banaka
Tabela 1.4 i 1.5
U pregledu su prikazana potraživanja i obaveze banaka u Crnoj Gori.
U pojedinim kolonama obuhvaćene su sljedeća potraživanja i obaveze:
Statistical BulletinMay 2011
85
Demand deposits with the CBM include deposits by domestic financial institutions, except banks.
Total CBM capital includes the CBM founding capital, undistributed profit and reserves, and profit retained for the current period.
Monetary Overview / Balance Sheet of Banks
Table 1.2
The overview shows claims and liabilities of banks operating in Montenegro.
Net foreign assets of banks represent the difference between claims on, and liabilities to, non-residents. Claims on non-residents comprise cash in vault, banks` deposits in foreign banks/financial institutions, investments in foreign securities, and loans disbursed to non-residents. Banks` liabilities to non-residents include deposits by non-residents, liabilities for securities and liabilities for loans taken from foreign banks/financial institutions.
Banks` claims on the CBM refer to claims arising from their settlement accounts and allocated reserve requirements held with the CBM. Banks` liabilities to the CBM include liabilities for loans granted by the monetary predecessor of the Central Bank of Montenegro.
Banks` net claims on the Central Government represent the difference between claims on, and liabilities to, the Central Government. Claims on the Central Government are comprised of receivables for purchased Treasury bills and disbursed loans. Banks’ liabilities to the Central Government include demand deposits and time deposits of the Central Government held in banks.
Banks` claims on other sectors refer to claims on domestic non-banking sectors for disbursed loans and securities.
Other items net include banks’ borrowings from domestic non-banking sectors, net position of other liabilities and assets of banks, and consolidation adjustments among banks.
Deposits in domestic banks comprise demand and time deposits of the domestic nonbanking sector, excluding the Central Government.
Total capital of banks covers banks` founding capital, undistributed profits and reserves and profit retained for the current period.
Monetary Overview
Table 1.3
The table shows consolidated claims and liabilities of the Montenegrin banking sector – the Central Bank of Montenegro and commercial banks.
Aggregate Balance Sheet of Banks
Tables 1.4 and 1.5
The table shows claims and liabilities of banks in Montenegro.
The following claims and liabilities are shown in the columns:
86Statistički biltenMaj 2011.
Aktiva
Novčana sredstva i računi depozita kod depozitarnih institucija obuhvataju: gotovinu i go-tovinske ekvivalente, depozite kod Centralne banke i depozite kod banaka i ostalih finansi-jiskih institucija. Krediti obuhvataju ukupne kredite odobrene svim sektorima. Rezervacije za kreditne gubitke obuhvataju sva rezervisanja na kreditne gubitke. Neto krediti predsta-vlja razliku između pozicije ukupnih kredita i rezervisanja za kreditne gubitke. Hartije od vrijednosti obuhvataju HOV raspoložive za trgovanje, prodaju i koje se drže do dospijeća. Finansijski derivati obuhvataju finansijsku imovinu koja se drži radi trgovanja kao i koja se korisiti kao instrument zaštite. Faktoring i forfeting, obuhvataju otkupljena kratkoročna i dugoročna potraživanja po osnovu faktoringa i forfetinga. Kastodi poslovi obuhvataju su potraživanja po osnovu kastodi poslova. Ostala aktiva obuhvata sve stavke koje nijesu obu-hvaćene prethodnim pozicijama aktive. Rezervacije za gubitke na ostale stavke aktive obu-hvataju rezerve za potencijalne gubitke na ostale stavke aktive osim kredita.
Pasiva
Depoziti prikazuju nivo ukupnih depozita (po viđenju i oročenih) položenih kod domaćih banaka. Kastodi poslovi obuhvataju obaveze iz kastodi poslova. Pozajmice obuhvataju uku-pne obaveze banaka po uzetim kreditima i ostalim pozajmicama. Finansijski derivati obu-hvataju finansijske obaveze koje se drži radi trgovanja, kao i finasijske obaveze koje se kori-siti kao instrument zaštite. Ostale obaveze obuhvataju sve ostale obaveze koje nijesu obuhvaćene prethodnim pozicijama. Pozicija ukupan kapital obuhvata akcijski kapital, osta-li kapital, rezerve i neraspoređeni dobitak /gubitak iz prethodnih godina i tekući rezultat.
Ukupni krediti banaka
Tabela 1.6 i 1.7
U pregledima je prikazano stanje ukupnih kreditnih potraživanja banaka i struktura kredi-tnih potraživanja banaka po institucionalnim sektorima (finansijske institucije, nefinansij-ske institucije, opšta Vlada, fizička lica, neprofitne organizacije i ostalo).
Ukupni depoziti kod banaka
Tabele 1.8 i 1.9
U pregledima je prikazano stanje ukupnih depozita položenih kod domaćih banaka i stru-ktura ukupnih depozita po institucionalnim sektorima (finansijske institucije, nefinansijske institucije, opšta Vlada, fizička lica, neprofitne organizacije i ostalo).
Depoziti stanovništva
Tabela 1.10 i 1.11
U pregledima je prikazano stanje ukupnih depozita sektora stanovništva kod banaka i nji-hova struktura po ročnosti.
Obavezna rezerva
Tabela 1.12.
U pregledu je prikazano stanje izdvojene obavezne rezerve.
Statistical BulletinMay 2011
87
Assets
Monetary assets and deposit accounts with depository institutions include: cash and equivalents, deposits with the Central Bank, and deposits with banks and other financial institutions. Loans cover total loans disbursed to all sectors. Loan loss provisions include all loan loss provisions. Net loans represent the difference between the positions total loans and loan loss provisions. Securities cover securities available for trade, sale, and held-to-maturity. |Financial derivatives include financial assets held for trade and used as security instrument. Factoring and forfeiting cover short-term and long-term receivables for factoring and forfeiting. Custody operations cover receivables from custody operations. Other assets include all positions not covered in the aforementioned asset positions. Provisions for losses on other asset items include reserves against contingent losses on other assets items, except loans.
Liabilities
Deposits show the level of total deposits (demand and time) placed with domestic banks. Custody operations cover liabilities arising from custody operations. Borrowings consist of banks` total liabilities arising from credits and other borrowings. Financial derivatives include financial liabilities held for trade and financial liabilities used as security instrument. Other liabilities include all liabilities not covered in the aforementioned positions. The total capital position covers equity capital, other capital, reserves, prior years retained earnings/loss, and the current period balance.
Total Banking Loans
Tables 1.6 and 1.7
The tables show banks` total loan receivables and the structure of these receivables by institutional sectors (financial institutions, non-financial institutions, General Government, households, non-profitable organisations, and others).
Total Deposits in Banks
Tables 1.8 and 1.9
This is an overview of total deposits placed with domestic banks and the structure of total deposits by institutional sectors (financial institutions non-financial institutions, General Government, households, non-profitable organisations, and others).
Deposits by Households
Tables 1.10 and 1.11
This is the balance of total deposits by households in banks and their maturity structure.
Reserve Requirements
Table 1.12
This is the balance of allocated reserve requirements of banks.
88Statistički biltenMaj 2011.
Do februara 2009. godine, obračunavanje i izdvajanje obavezne rezerve vršeno je u skladu sa Odlukom o obaveznoj rezervi banaka kod CBCG („Sl. list CG“, br. 09/07 i 5/08).
U februaru i junu 2009. godine izvršene su izmjene i dopune Odluke o obaveznoj rezervi banaka kod CBCG2.
Shodno izvršenim izmjenama osnovicu za obračun obavezne rezerve čine depoziti po vi-đenju i oročeni depoziti. Za obračun obavezne rezerve primjenjuje se jedinstvena stopa od 10%. Obračunavanje obavezne rezerve se vrši primjenom utvrđene stope na propisani iznos osnovice.
Obavezna rezerva izdvaja se na račun obavezne rezerve u zemlji i/ili račune Centralne ban-ke u inostranstvu. Banke mogu da 25% obavezne rezerve drže u obliku državnih zapisa, koje je emitovala Crna Gora. Obavezna rezerva se izdvaja u eurima.
Mikrokreditne finansijske institucije
Tabela 1.13.
U pregledu je prikazana bilansna suma i kreditna potraživanja mikrokreditnih finansijskih institucija.
Prosječna ponderisana aktivna kamatna stopa banaka
Tabela 1.14.
Tabela prikazuje prosječne ponderisane aktivne kamatne stope (nominalne i efektivne) na godišnjem nivou po ključnim sektorima i djelatnostima, na nivou bankarskog sistema.
Na osnovu podataka dobijenih iz Izvještaja o podacima za praćenje kreditnog rizika, pro-sječna ponderisana nominalna i efektivna kamatna stopa dobija se kao količnik sume duga svakog pojedinačnog kredita (stanje na kraju mjeseca) pomnoženog sa kamatnom stopom po kojoj je kredit odobren i sume ostatka duga na evidentirane kredite za sve kategorije po-smatranja.
Prosječna ponderisana pasivna kamatna stopa banaka
Tabela 1.15.
Tabela pokazuje prosječne ponderisane pasivne kamatne stope ( nominalne i efektivne) na godišnjem nivou po ključnim sektorima, na nivou bankarskog sistema.
Metodološke napomene o Tržištu novca i kapitala
Tabele 2.1-2.13
Izvori podataka za aukcije državnih zapisa su izvještaji Sektora za bankarske i finansijske operacije, dok se podaci o poslovanju učesnika na tržištu kapitala dobijaju od crnogorske berze, Komisije za hartije od vrijednosti i CDA.
2 “Sl. list Crne Gore “,br.15/09 i 41/09
Statistical BulletinMay 2011
89
Until February 2009, the calculation and allocation of reserve requirements was performed in accordance with the Decision on Banks` Reserve Requirements to Be Held with the Central Bank of Montenegro (O G MNE no 09/07 and 5/08).
Amendments to the Decision on Banks` Reserve Requirements to Be Held with the Central Bank of Montenegro were passed in February and June 20092.
Pursuant to the aforesaid amended Decision the reserve requirement calculation base comprises demand and time deposits. The calculation of reserve requirements is performed by applying the common rate of 10% on the average calculation base.
Reserve requirements are allocated to the Central Bank’s reserve requirement accounts in the country and/or abroad. Banks may hold 25% of their reserve requirements in T-bills issued by Montenegro. Reserve requirements are allocated in EUR.
Micro-Credit Financial Institutions
Table 1.13
The table shows total assets and loan claims of micro-credit financial institutions.
Weighted Average Lending Interest Rates
Table 1.14
The table shows the weighted average lending interest rates (nominal and effective) at the annual level, by key sectors and activities, and at the system level.
On the basis of information from Reports on credit risk monitoring data, weighted average nominal and effective interest rates are calculated when the sum of individual outstanding loans (end-month balance) multiplied by their interest rates is divided by the sum of outstanding loan claims for all other monitored loan categories.
Weighted Average Deposit Interest Rates
Table 1.15
The table shows weighted average deposit interest rates (nominal and effective) at the annual level, by key sectors, and at the system level.
Methodological Remarks about the Money Market and the Capital Market
Tables 2.1-2.13
Reports of the Sector for banking and financial operations represent data sources for the T-bills auctions, while data on operations of the capital market participants are achieved from the Montenegrin stock exchange, Securities and Exchange Commission and Central Depository Agency.
2 OGM, Nos.15/09 and 41/09.
90Statistički biltenMaj 2011.
Tabele 2.1- 2.10
Aukcije državnih zapisa u ime Vlade Crne Gore obavlja Centralna banka Crne Gore kao fiskalni agent. Na aukcijima mogu učestvovati preduzeća, banke, osiguravajuća društva i fi-zička lica sa domaćim i stranim kapitalom. U praksi se održavaju aukcije na 28, 56, 91 i 182 dana.
Tabele 2.11 i 2.12
U tabelama su prikazani podaci o vrijednosti realizovanog prometa na berzi, vrstama pro-meta (primarni i sekundarni) kao i strukturi prometovanog materijala (akcije, akcije fondo-va zajedničkog ulaganja i razne vrste obveznica – obveznice stare devizne štednje (uključu-jući i obveznice po osnovu obeštećenja štediša kod državnih banaka, sa sjedistem van Crne Gore), opština, restitucije, obveznice za sanaciju drumskih puteva, obveznice korisnika pen-zijskog osiguranja).
Podaci o prometu akcijama uključuju podatke o akcijama kojima se trgovalo na berzanskom i slobodnom tržištu. Akcije na berzanskom tržištu obuhvataju akcije kompanija sa berzan-skih lista (A i B liste Montenegroberze), Akcije na slobodnom tržištu uključuju akcije koji-ma se trgovalo u slobodnoj prodaji i akcije iz specijalnih ponuda Ministarstva finansija i državnih fondova (akcije privrednih društava u državnom vlasništvu – djelimičnom ili po-tpunom, koje se obično nude na prodaju prilikom privatizacije ili preuzimanja).
Raznim vrstama obveznica trguje se na berzanskom i slobodnom tržištu. Trgovina obve-znicama odnosi se na: restitucije i obveznice stare devizne štednje (uključujući i obveznice za obeštećenje štediša kod državnih banaka sa sjedištem van Crne Gore), koje je emitovalo Ministarstvo finansija u cilju regulisanja obaveza po osnovu stare devizne štednje građana i obaveza po osnovu restitucije, obveznice korisnika penzijskog osiguranja koje je takođe emitovalo Ministarstvo finansija u svrhu obeštećenja korisnika penzijsko invalidskog osi-guranja, obveznice opština, koje su emitovale brojne crnogorske opštine i obveznice za sa-naciju drumskih puteva koje emituje Vlada RCG.
Akcijama Fondova zajedničkog ulaganja trguje se na slobodnom tržištu Montenegroberze. U periodu od 2002. do 2004. godine, prikazan je promet investicionim jedinicama privati-zacionih investicionih fondova, kao i specijalnih investicionih jedinica privatizacionih fon-dova, kojima su privatizacioni fondovi „isplaćivali“ menadžment kompanije, za upravljanje fondovima. Tokom 2005. godine, privatizacioni investicioni fondovi su se transformisali u fondove zajedničkog ulaganja3, tako da se u pregledima, od tog perioda, prati promet akci-jama fondova zajedničkog ulaganja.
Tabela 2.12.
Tržišna kapitalizacija i koeficijent obrta sredstava na Montenegroberzi.
Tržišna kapitalizacija na Montenegroberzi računa se kao suma ukupnog broja emitovanih hartija od vrijednosti svakog pojedinačnog emitenta, pomnoženih sa posljednjom cijenom trgovanja (bez obzira na to kad se njome trgovalo). Koeficijent obrta sredstava računa se kao odnos ostvarenog prometa i tržišne kapitalizacije na kraju svakog mjeseca.
3 Zakon o investicionim fondovima „Sl. list RCG 49/04
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Tables 2.1- 2.10
T-bill auctions in the name of the Montenegrin Government are performed by the CBM being the fiscal agent. Companies, banks, insurance companies and natural persons with domestic and foreign capital may participate in auctions. Auctions are performed within the period of 28, 56, 91 and 182 days.
Tables 2.11 and 2.12
Tables show data on the value of realized turnover at the stock exchange, kind of turnover (primary and secondary) as well as on the structure of turnover material (shares, shares of joint investment funds, and different kind of bonds – frozen foreign currency savings bonds (including bonds from indemnification of depositors with state banks settled outside of Montenegro), municipalities, restitution, bonds for reconstruction of roads, pension insurance bonds.
Data on shares turnover include data on share trade at stock exchanges and free market. Stock exchange shares include share of companies from stock exchange lists (A and B lists of Montenegro stock exchange). Free market shares include shares traded in free sale and shares of special offers of the Ministry of Finances and state funds (shares of state companies – partial of full ownership), which are usually offered for the sale through privatization or acquisition).
Different kinds of bonds are traded at stock exchange and free market. Trade with bonds refers to: restitutions and frozen foreign currency savings bonds (including bonds for indemnification of depositors with state banks settled out of Montenegro), issued by the Ministry of Finance with a view to regulating obligations derived from frozen foreign currency savings of citizens and obligations from restitution, bonds of pension insurance beneficiaries also issued by the Ministry of Finance aiming to indemnify pension and disability insurance beneficiaries, municipalities’ bonds issued by numerous Montenegrin municipalities and bonds for roads reconstruction issued by the Government of Montenegro.
Joint investment funds’ shares are traded at free market of Montenegro stock exchanges. Turnover of investment units of privatization-investment funds, by which privatization funds „paid“ management companies for managing funds is shown for the period 2002-2004. In 2005, privatization-investment funds were transformed into joint investment funds3. Thus, in the overviews as of that period, turnover of joint investment funds share is observed.
Table 2.12
Market capitalization and asset turnover ratio at the Montenegro stock exchange.
Market capitalization at the Montenegro stock exchange is a sum of the total number of issued securities of each issuer, multiplied with the latest trading price (regardless of the trading period). Asset turnover ratio is recorded turnover and market capitalization ratio at the end of each month.
3 Law on Investment Funds OGM, 49/04
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Tabela 2.13.
Indeksi predstavljaju repere tržišnog prosjeka na osnovu kojeg investitori definišu investi-cionu strategiju i upoređuju prinos na svoj portflio. Berzanski indeksi koji se računaju na crnogorskoj berze su: Monex 20 i Monex PIF. Oba indeksa (MONEX 20 i MONEX PIF) uvedena su 1. januara 2011. godine kao pravni naslednici svih indeksa na crnogorskim ber-zama, nakon pripajanja Nex Montenegro berze Montenegroberzi.
Indeks Monex 20 predstavlja cjenovni (ne uključuje dividendu), težinski indeks kojeg čine hartije od vrijednosti 20 emitenata. Učešće emitenata u indeksu računa se na osnovu tržišne kapitalizacije (koja učestvuje sa 80% u obračunu indeksa) i prometa i broja sklopljenih po-slova (učestvuju sa 10% u obračunu indeksa) na Montenegroberzi. Indeks se računa u real-nom vremenu, nakon svakog sklopljenog posla. Početna vrijednost indeksa je 1000 poena. Indeks sadrži i korekcioni faktor koji se koristi jedino u slučaju promjene sastava indeksa. Redovne revizije indeksa vrše se dva puta godišnje, a berza ima i definisane kriterijume za vanredne revizije indeksa (značajne promjene u kriterijumina ili kada se steknu uslovi da se novo preduzeće uključi u indeks).
Index MONex PIF predstavlja cjenovni, težinski indeks kojeg sačinjavaju investicione jedi-nice 6 PIF-ova (privatizaciono investicionih fondova) u Crnoj Gori. Procentualno učešće pojedinih fondova u indeksu utvrđeno je na osnovu sljedećih kriterijuma: tržišna kapitali-zacija fonda – 50%, broj akcija fonda – 25% i broj poslova sklopljenih na Montenegroberzi od početka trgovanja akcijama fonda – 25%. Indeks se računa u realnom vremenu, nakon svakog sklopljenog posla. Početna vrijednost indeksa je 1000. Indeks, takođe, posjeduje ko-rekcioni faktor. Redovne revizije indeksa vrše se dva puta godišnje, a vanredne revizije se vrše usljed značajnih promjena kod fondova koji su učestvovali u formiranju indeksa.
Metodološke napomene o Platnom bilansu
Platni bilans Crne Gore sastavlja se prema metodologiji Međunarodnog monetarnog fonda (Balance of payments Manual, fifth edition,1993). Izvori podataka su: poslovne banke (ITRS), Monstat, CBCG i statistička istraživanja koje sprovodi CBCG. Podaci se objavljuju kvartal-no, u eurima. Preračunavanje izvornih podataka iz orginalnih valuta u izvještajnu valutu vrši se primjenom: srednjih kurseva CBCG na dan transakcije, mjesečnih i godišnjih sre-dnjih prosječnih kurseva CBCG, srednjeg dnevnog kursa na kraju perioda kod procjene transakcija čija se razlika stanja prati.
Početkom 2005. godine izvršena je revizija podataka o spoljnoj trgovini robama za 2004. godinu. Naime, tokom 2004. godine postalo je tehnički moguće pratiti robne transakcije između Crne Gore i Srbije na osnovu podataka Republičke uprave carina Crne Gore odno-sno carinskih deklaracija. Do 2004. godine izvor za praćenje ovih tokova bili su podaci po-slovnih banaka o ostvarenom platnom prometu sa inostranstvom, odnosno ITRS. Izvor podataka o spoljnoj trgovini od 2005. godine je Monstat. CBCG je izvršila reviziju platnog bilansa za period 2005-2009. godina i ubuduće će za izradu platnog bilansa koristiti poda-tke o izvozu i uvozu robe prikazane po specijalnom sistemu trgovine. CBCG radi prilago-đavanje podataka dobijenih od Monstata za potrebe izrade platnog bilansa u skladu sa me-todologijom MMF-a (Balance of Payments Manual, Fifth edition, IMF, 1993).
Na računu usluga evidentiraju se podaci o uslugama u oblasti transporta, putovanja-turi-zma i ostalih usluga. Podaci o izvozu i uvozu usluga dobijaju se iz platnog prometa sa ino-stranstvom. Prihodi od putovanja-turizma obuhvataju procijenjene prihode od turizma, koji se dopunjavaju podacima o pruženim zdravstveno-rekreativnim uslugama i potrošnjom u cilju školovanja. Procjena prihoda od turizma radi se na osnovu broja noćenja (podatak
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Table 2.13
Indices represent parameters of the market average on the basis of which investors define investment strategy and compare return on their portfolio. Stock exchange indices counted at Montenegrin stock exchange are the following: Monex 20 and Monex PIF. Both indices ( MONEX 20 i MONEX PIF) are introduced as of 01 January 2011 as legal successors of all indices at Montenegrin stock exchanges after merging of Nex Montenegro stock exchange with Montenegro stock exchange.
Index Monex 20 represents price (does not include dividend), value index consisted of securities of 20 issuers. The share of issuers in the index is calculated on the basis of market capitalization (which participates with 80% in the index calculation) and turnover and number of agreed transactions (which participate with 10% in the index calculation) at the Montenegro stock exchange. Index is calculated in real time, after each agreed transaction. Initial value of the index is 1000 points. Index has also corrective factor which is used only in case of the change of the index composition. Regular indices revisions are performed twice per year, while the stock exchange has defined criteria for extraordinary indices revision (substantial changes in criteria or in case of conditions for including a new company in the index).
MONex PIF index represents price, value index consisted of investment units of 6 PIF (privatization-investment funds) in Montenegro. Percentage share of individual funds in the index is determined on the basis of the following criteria: fund’s market capitalization – 50%, number of fund’s shares – 25% and the number of agreed transactions at the Montenegro stock exchange from the beginning of the trading with fund’s shares – 25%. Index is calculated in real time after each agreed transaction. Initial value of index is 1000. In addition, index has the corrective factor. Regular index are performed twice per year while the extraordinary revisions are performed in case of substantial changes in funds participating in creation of the index.
Methodological remarks on the Balance of Payment (BoP)
Montenegrin BoP is composed according to the IMF methodology (Balance of payments Manual, fifth edition, 1993). Data sources are: commericla banks (ITRS), Monstat, the CBM and statictical surveys of the CBM. Data re published quarterly, in euros. Recalculation of source data from original currencies to reporting currency is performed as follows: by the implementation of middle exchage of teh CBM at the transacton day, monthly and annual middle average exchange rates of the CBM, middle daily exchange rate at period-end in the assessment of transactions which difference is being monitored.
At the beginning of 2005, revision of data on foreign commodity trade for 2004 is performed. Namely, in 2004, technical difficulties (data of the Montenegrin Custom Administration and cusrom declarations) in monitoring commodity transactions between Montenegro and Serbia Up to 2004, source for monitoring of these flows were data of commercial banks on recorded foreign payment operations (ITRS). Monstat represents the data source on foreign trade as of 2005.The CBM performed revision of the BoP for the period 2005-2009 and in future it will use data on export and import of goods showed according to the special trading system. The CBM performs adjustment of Monstat data to the needs of BoP according to the IMF methodology (Balance of Payments Manual, Fifth edition, IMF, 1993).
Services account registers data on services in the sectors of transportation, travelling-tourism and other services. Data on export and import of services are obtained from foreign payment operations. Revenues from travelling-tourism comprise estimations of revenues from tourism, with data on offered health care and services and consumption with a view of
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Monstat-a) i procijenjene prosječne dnevne potrošnje. Početkom 2006. godine korigovan je model za procjenu prihoda od turizma i izvršena je revizija podataka za prethodne godi-ne. Ostale usluge obuhvataju finansijske, građevinske usluge, ptt i komunikacijske usluge, usluge osiguranja, kompjuterske i informacione usluge, autorska prava i honorare od izda-vanja dozvola i ostale poslovne usluge. Podaci o ovim uslugama dobijaju se iz statistike pla-tnog prometa sa inostranstvom (ITRS).
Račun dohotka obuhvata podatke o kompenzacijama zaposlenima, plaćanjima i naplatama po osnovu kamata, plaćenim i naplaćenim dividendama. Izvor podataka je statistika platnog prometa sa inostranstvom, CBCG i procjene. Tekući transferi obuhvataju podatke o tran-sferima sektora vlade i ostalih sektora koji se dobijaju iz statistike platnog prometa sa ino-stranstvom.
Direktne i portfolio investicije prate se na osnovu podataka statistike platnog prometa sa inostranstvom i sprovedenih istraživanja. Ostale investicije, koje obuhvataju podatke o kre-ditima, trgovinskim kreditima, gotovini i depozitima, se dobijaju iz statistike platnog pro-meta sa inostranstvom i CBCG.
Rezerve Centralne banke Crne Gore obuhvataju sredstva Centralne banke deponovana kod ino banaka, sredstva u trezoru CBCG, monetarno zlato i rezervne pozicije kod MMF-a. Izvor podataka je CBCG (monetarna statistika).
Metodološke napomene o Platnom prometu
Tabele 4.1-4.6
Podaci o internom platnom prometu su agregirani na bazi Izvještaja primljenih u skladu sa Odlukom o izvještajima koje banke dostavljaju Centralnoj banci Crne Gore.4
Ukupan platni promet obuhvata vrijednost realizovanog međubankarskog i internog platnog prometa u zemlji.
Međubankarski platni promet obuhvata vrijednost realizovanu izvršavanjem transfera između učesnika u PS-u, posredstvom RTGS i DNS sistema Centralne banke Crne Gore, koja je vlasnik i operater sistema.
Učesnici u platnom prometu u zemlji su :
1. poslovne banke (trenutno jedanaest banaka), 2. Državni organi (Državni trezor, Uprava carina, Poreska uprava MUP i Uprava policije),3. ostali klijenti Centralne banke (bankae u stečaju i likvidaciji, Centralna depozitarna
agencija, Fond za zaštitu depozita) i 4. Centralna banka.
U RTGS-u obavezno se izvršavaju:
- transferi koji glase na iznos od 1.000,00 € ili veći, - transferi koji se odnose na uplatu javnih prihoda (porezi, doprinosi, takse, itd.) koje pro-
pisuje ministarstvo nadležno za poslove finansija, - transferi u korist i na teret računa Državnog trezora, i- transferi kojima učesnici podižu gotovinu iz trezora Centralne banke.
4 „Sl. List RCG”, br. 09/04, 24/05, 62/06, 40/07, 68/08
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educating. Estimation of revenues from tourism is performed on the basis of the number of overnights (Monstat’s data) and the assessment of average daily consumption. At the beginning of 2006, model for teh assessment of revenues from tourism is corrected and revision of data from the previous year was performed. Other services cover financial, construction, post and telecommunication services, insurance, computer and IT services, copyrights and fees for issuing licences and other business services. Data on these services are obtained from the foreign payment operations statistics (ITRS).
Revenues account comrises data on compensations to emplosees, payments and colections based on interests, paid and collected dividends. Data source is the foreign payment operations statistics, the CBM and its esstimations. Current transfers comrise data on transfers of the Government and other sectors which are obtained from foreign payment operations statistics.
Direct and portfolio investments are monitored according to foreign payment operations statistical data and conducted surveys. Other investments, which cover data on loans, trade loans cash and deposits are obtained from foreign payment operation statistics and the CBM.
The CBM reserves comprise the CBM funds depsoited in foreign banks, funds in the CBM vault, monetary gold and reserve positions with the IMF. The CBM (monetary statistics) reprsents the source of data.
Methodological Remarks on Payment Operations
Tables 4.1-4.6
Data on the internal payment operations are aggregated in accordance with the Reports received from banks in line with the Decision on Reports that Banks Submit to the Central Bank of Montenegro.4
Total payment operations include the value of interbank and payment operations in the country.
Interbank payment operations cover all transactions among participants in the interbank payment system performed through the RTGS and DNS systems owned and operated by the Central Bank of Montenegro.
Participants in the payment operations in the country are the following:
1. commercial banks (currently eleven banks),2. Government bodies (Treasury, Customs Administration, Tax Administration, Ministry
of Internal Affairs and Police Administration),3. other clients of the Central Bank (banks under bankruptcy and liquidation, the Central
Depository Agency, and the Deposit Protection Fund), and4. the Central Bank of Montenegro.
The following are transactions that must be performed in RTGS:
- transfers of EUR 1,000 or higher,- transfers related to the payment of public revenues (taxes, contributions, fees, and the
like) prescribed by the Ministry of Finance
4 OGRM, Nos. 09/04, 24/05, 62/06, 40/07, 68/08.
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Po zahtjevu klijenta, u RTGS-u se mogu izvršavati i transferi koje glase na iznos manji od 1.000,00 € .
U DNS-u, u tri klirinška ciklusa se izvršavaju transferi čiji pojedinačni iznos ne može biti veći od 1.000,00 € ( tzv. mala plaćanja).
Interni platni promet obuhvata vrijednost bezgotovinskog i gotovinskog platnog prome-ta realizovanog između klijenata koji imaju otvorene račune kod iste banke posredstvom njenog internog platnog sistema.
Metodološke napomene o Realnom dijelu
Tabele 5.1 – 5.6
Statistički podaci iz oblasti realnog sektora prikupljaju se od nadležnih institucija: Monstata, Zavoda za zapošljavanje i Ministarstva finansija.
Tabela 5.1 – Cijene
Podaci o indeksima potrošačkih cijena i cijena proizvođača industrijskih proizvoda preu-zimaju se od Monstata.
Indeks potrošačkih cijena se definiše kao mjera prosječne promjene cijena fiksne korpe pro-izvoda i usluga, koje domaćinstvo kupuje u cilju zadovoljenja svojih potreba i obračunava se po metodologiji usklađenoj sa preporukama za obračunavanje indeksa cijena u Evropskoj Uniji. Podaci o cijenama se prikupljaju u četiri grada (Podgorica, Nikšić, Pljevlja i Kotor) na teritoriji Crne Gore. Za obračun Indeksa potrošačkih cijena koristi se Klasifikacija robe i usluga individualne potrošnje prema namjeni (COICOP – Classification of individual Consumption by Purpose). Za obračunavanje indeksa cijena primjenjuju se ponderi koji se baziraju na podacima iz Ankete o potrošnji domaćinstava i koriguju se svake godine u skla-du sa promjenama kretanja cijena iz prethodne godine
Cijene proizvođača industrijskih proizvoda su cijene po kojima proizvođači prodaju svoje proizvode u najvećim količinama na domaćem tržištu. Ove cijene se prikupljaju mjesečnim izvještajima koje dostavljaju izabrana preduzeća, a izbor preduzeća se vrši prema njihovom učešću u ukupnoj realizaciji određene oblasti. Indeksi cijena proizvođača industrijskih pro-izvoda računaju se ponderima na bazi podataka o realizaciji industrijske proizvodnje. Svake godine se vrši korekcija pondera, a novi ponderi se izračunavaju svake pete godine
Tabela 5.2 – BDP (Bruto domaći proizvod)
Podaci o Bruto domaćem proizvodu se preuzimaju od Monstata a procjene BDP-a se pre-uzimaju od Ministarstva finansija.
Tabela 5.3 – Industrijska proizvodnja
Indeksi fizičkog obima industrijske proizvodnje dobijaju se na osnovu mjesečnih podataka Monstata. Obuhvataju se preduzeća kao i njihovi dijelovi koji obavljaju industrijsku djela-tnost, odnosno koji su prema Klasifikaciji djelatnosti razvrstani u sektore: Vađenje ruda i kamena, Prerađivačka industrija i Proizvodnja i snabdijevanje električnom energijom, ga-som i vodom. Preduzeća neindustrijskih djelatnosti su izvještajne jedinice ako u svom sa-stavu imaju jedinicu koja se bavi industrijskom djelatnošću.
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- transfers to credit and debit the Government Treasury, and- transfers of the participants` cash withdrawal from the Central Bank’s vault.
Transactions lower than EUR 1,000 can also be performed in RTGS at a client’s request.
Transactions which individual amounts may not exceed EUR 1,000 (the so-called small payments) can be performed in DNS through three clearing cycles.
Internal payment operations cover the value of non-cash and cash payment operations performed among clients of one bank through its internal payment system.
Methodological Remarks about the Real Sector
Tables 5.1 – 5.6
Statistical real sector data are collected from the following authorized institutions: Monstat, the Employment Agency, and the Ministry of Finance.
Table 5.1 – Prices
Data on the consumer price and the producers` prices of manufactured products indices are taken from Monstat.
The consumer prices index (CPI) is defined as a measure of the average change over time in the prices of a market basket of consumer goods and services paid by households with a view to meeting their needs and it is calculated in line with the methodology harmonized with the recommendations for the calculation of the CPI in the European Union. Data on prices are collected from four towns in Montenegro (Podgorica, Nikšić, Pljevlja and Kotor). The CPI calculation uses the Classification of goods and services - the Classification of Individual Consumption by Purpose (COICOP). Weights applied in the calculation are based on information from the Household Survey and they are revised every year in accordance with prices movement over the past year.
Producers` prices of manufactured products are prices at which producers sell their products in the largest quantities in the local market. Data on these prices are collected from monthly reports submitted by some companies which are selected according to their share in total output of a certain industry. The producers` prices indices are calculated by weights on the basis of data on industrial output. The weights are revised every year, and new weights are calculated every five years.
Table 5.2 – GDP (Gross Domestic Product)
Data on GDP are taken over from Monstat, and GDP estimates from the Ministry of Finance.
Table 5.3 – Industrial Output
The indices of physical volume of industrial production are obtained on the basis of monthly Monstat data. They cover enterprises and their units that perform that industrial activity, i.e. those classified in accordance with the Classification of activities into: Mining and quarrying, Manufacturing industry, and Production and supply of electricity, gas, and water. Enterprises performing non-industrial activities are reporting entities if they contain a kind-of-activity unit performing an industrial activity.
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Tabela 5.4 – Šumarstvo, građevinarstvo
Proizvodnja šumskih sortimenata je dobijena na osnovu mjesečnih podataka Monstata. Obuhvaćena su preduzeć koja se bave stalnom proizvodnjom šumskih sortimenata iz dr-žavnih šuma bez obzira da li im je proizvodnja šumskih sortimenata osnovna djelatnost ili nije.
Podaci o građevinarstvu prikupljaju se na osnovu kvartalnog izvještaja Monstata. Obuhvaćena su sva preduzeća iz sektora građevinarstva, kao i jedinice koje obavljaju građevinsku djela-tnost, a nalaze se u sastavu negrađevinskih preduzeća. Podaci se prikupljaju od preduzeća iz Crne Gore kao i poslovnih jedinica stranih preduzeća koji obavljaju građevinsku djela-tnost u Crnoj Gori. Vrijednost izvršenih građevinskih radova izražena je u tekućim cijena-ma i obuhvata sav ugrađeni građevinski materijal i utrošeni rad. Podaci o vrijednosti izvr-šenih građevinskih radova daju se na osnovu privremenih situacija koje ispostavljaju izvođači radova. Izvršeni efektivni časovi rada obuhvataju stvarno odrađene časove radni-ka angažovanih na gradilištima u redovnom radnom vremenu, kao i u prekovremenim sa-tima.
Tabela 5.5 – Turizam
Podaci o broju noćenja i dolazaka turista prikupljaju se iz redovnih mjesečnih izvještaja Monstata, koji se sastavljaju na osnovu evidencije u knjigama gostiju i sprovodi se na bazi potpunog obuhvata.
Tabela 5.6 – Zaposleni, nezaposleni, zarade
Podaci o broju zaposlenih preuzimaju se od Monstata, pri čemu se podaci o mjesečnom i godišnjem broju zaposlenih dobijaju na osnovu evidencija koje su regulisane Zakonom o evidencijama u oblasti rada i zapošljavanja („Sl. list RCG, br.69/03), a vode se u Centralnom registru Poreske uprave (CRPO), a koje Monstat redovno preuzima. Pod pojmom zaposle-ni podrazumijevaju se sva lica koja imaju zasnovan radni odnos sa preduzećem, ustanovom, organizacijom ili individualnim poslodavcem, bez obzira da li su radni odnos zasnovali na neodređeno ili određeno vrijeme i da li rade puno ili kraće od punog radnog vremena. Od 1. januara 2009. godine u ukupan broj zaposlenih ulaze i zaposleni starnci na osnovu Zakona o zapošljavanju i radu stranaca („Sl. list CG“ br. 22/2008. godine).
Podaci o broju nezaposlenih preuzimaju se od Zavoda za zapošljavanje Crne Gore.
Podaci o prosječnim zaradama preuzimaju se od Monstata. Pod pojmom zarada zaposlenog podrazumijeva se bruto zarada koja obuhvata zaradu za obavljeni rad i vrijeme provedeno na radu, uvećanu zaradu, naknadu zarade i druga lična primanja, koja podliježu plaćanju poreza na dohodak fizičkih lica, utvrđena zakonom, kolektivnim ugovorom i ugovorom o radu. Prosječna zarada izračunava se tako što se ukupno isplaćena masa zarada u mjesecu dijeli sa brojem zaposlenih na koje se odnose izvršene isplate.
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Table 5.4 – Forestry, Construction
The production of wood products is obtained on the basis of Monstat monthly data. It covers all enterprises permanently involved in the production of wood products from the state forests, regardless of whether this production is their main activity or not.
Data on construction are compiled from Monstat quarterly reports. It covers all enterprises in the construction sector, as well as kind-of-activity units of non-construction enterprises which perform construction activities. Data are collected from Montenegrin construction enterprises and foreign business units that perform construction activities on the territory of Montenegro. The value of performed construction work is presented in current prices and it shows the used construction material and the actually performed work. Data on the value of performed construction work are given on the basis of current situation as presented by contractors. Performed effective hours represent the real regular and overtime working hours of hired construction workers.
Table 5.5 – Tourism
Data on the number of tourist overnight stays and tourist arrivals are collected from Monstat`s full coverage monthly reports which are compiled on the basis of guest book records.
Table 5.6 – Employment, Unemployment, Salaries
Data on employment are taken from Monstat, whereas the data on monthly and annual employment are being obtained from records regulated by the Law on Work and Employment Records (OGRM, 69/30) and are recorded in the Central Registry of the Tax Administration which Monstat takes over on a regular basis. Term the employed persons refers to all persons who are working in companies, institutions, organizations or with individual employer, regardless of whether they have permanent or temporary employment, or whether they work full time or part-time job. As of 01 January 2009, total number of employed persons includes also employed foreigners pursuant to the Law on Employment and Work of Foreigners (OGM, 22/2008).
Data on unemployment are taken from the Montenegrin Employment Agency.
Data on average monthly salaries are taken from Monstat. The term “employee’s salary” means gross wages including the wages earned for the performed work and hours spent at work, increased salaries, compensations, and other personal income, subject to paying tax on physical persons’ income as determined by the Law, the Collective Agreement or the Employment Contract. An average salary is calculated as the total amount of paid salaries in a month divided by the number of employees that have received the salary.
100Statistički biltenMaj 2011.
Metodološke napomene o Fiskalnom sektoru
Tabele 6.1- 6.4
Tabele 6.1 - 6.4 predstavljene u ovoj publikaciji obuhvataju ostvarene primitke i realizovane izdatke Budžeta CG i državnih fondova u skladu sa Zakonom o budžetu (Sl.list CG. br.12/07). Primici obuhvataju sve vrste poreza, doprinose, takse, razne naknade, ostale budžetske prihode i primitke od otplate dodijeljenih kredita. Izdaci obuhvataju tekuće izdatke (bruto zarade i ostala lična primanja zaposlenih, rashode materijala i usluga, rashode po osnovu kamata, rente, subvencije i ostale izdatke), transfere za socijalnu zaštitu, transfere javnom sektoru, institucijama, pojedincima i NVO i kapitalne transakcije. Izvor podataka je Ministarstvo finansija Crne Gore.
Metodološke napomene o Međunarodnim komparacijama
Tabele 7.1-7.4
Tabela 7.1.
Kamatne stope na državne obveznice u Eurozoni predstavljaju harmonizovane dugoročne kamatne stope na mjesečnom nivou u 16 država Evropske unije koje služe za procjenu ispu-njenosti kriterijuma konvergencije. Za dugoročne kamatne stope u Crnoj Gori se koristi podatak o mjesečnom kretanju dugoročnih kamatnih stopa na 182-dnevne državne zapise Crne Gore ako su emitovani u posmatranom periodu. Izvor podataka su Evropska central-na banka i Centralna banka Crne Gore.
Tabela 7.2.
Mjesečne stope inflacije u zemljama Zapadnog Balkana, koje su u približno istoj fazi proce-sa evropskih integracija kao i Crna Gora. Izvor podataka su nacionalne centralne banke.
Tabela 7.3.
Uporedni pregled stopa inflacije u državama članicama Evropske unije i Crnoj Gori u po-smatranom u odnosu na isti mjesec prethodne godine. Izvor podataka su Evropska central-na banka i Centralna banka Crne Gore.
Tabela 7.4.
Najvažniji makroekonomski pokazatelji u izabranim zemljama Zapadnog Balkana. Izvor su zvanični podaci ili procjene nacionalnih centralnih banaka ili ministarstava finansija.
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Methodological Remarks about the Fiscal Sector
Tables 6.1- 6.4
Tables 6.1-6.4 cover realized revenues and expenditures of the Montenegro’s Budget and the Government funds in line with the Law on Budget (O G MNE 12/07). Revenues cover all taxes, contributions, various fees, other budget revenues, and revenues from loan repayment. The expenditures cover current expenses (gross salaries and other personal income, cost of material and services, interest expenses, rents, subsidies, and other expenses) social insurance transfers, transfers to the public sector, institutions, individuals and NGOs, and capital transactions. The source of data is the Ministry of Finance.
Methodological Remarks about International Comparisons
Tables 7.1-7.4
Table 7.1
Interest rates on government bonds in the Euro area represent harmonized long-term interest rates at monthly level in 16 countries of the European Union and they serve for the assessment of meeting the convergence criteria. Data on monthly movements of long-term interest rates in Montenegro are those on 182-day T-bills of the Republic of Montenegro, if they have been issued in the observed period. The sources of data are the European Central Bank and the Central Bank of Montenegro.
Table 7.2
The table shows monthly inflation rates in countries of the Western Balkans that are in a similar stage of the European integration process as Montenegro. The sources of data are national central banks of these countries.
Table 7.3
The table presents the month-on-month comparison of inflation rates in EU countries and Montenegro in the current and the previous year. The sources of data are the European Central Bank and the Central Bank of Montenegro.
Table 7.4
This table presents the most important macroeconomic indicators of the selected Western Balkan countries. The sources are the official data or estimates of the countries` national central banks or ministries of finance.
