This year, there were eight auctions of Treasury bills with a maturity period of 182 days and four with a maturity period of 91 days .
On the ninth auction of this year sold 8.5 million of bills , at an average rate of return of 3.39 percent.
Despite optimistic statements from the government on a very successful and profitable tourist season , the Montenegrin budget , it seems, however , it is not satisfactory , there are no new debt due to the lack of rebalance of the budget , and even earlier commitments can not service the anticipated pace .
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Treasury bills are short-term securities, which CBM sales on behalf of the Ministry of Finance , in order to maintain liquidity budget . The method of auction records at a discount or at a price lower than the nominal value , while sales are repaid at par value on the maturity date .
