Government approves Montenegro’s Programme of Economic Reforms 2015-2017

    Podgorica, Montenegro (29 January 2015) – At today’s session, the Government approved Montenegro’s Programme of Economic Reforms for the period 2015-2017, which outlines the country’s medium-term economic policy, and represents, at the same time, its annual obligation from EU agenda in the context of economic management, Tijana Stanković, Adviser to Deputy Prime Minister for Economic Policy, said following the Cabinet meeting.

    By focusing on economic management, Adviser Stanković stated, the European Commission emphasises significance of financial stability, fiscal sustainability and competitiveness of a country as a major precondition for its integration into European market.

    When it comes to macro-economic and fiscal indicators for 2015, the basis scenario projects growth of Montenegro’s economic activity of 3.5%, public finance deficit at the level of 5.3% and public debt of 69% of the GDP.

    Furthermore, medium-term macro-economic indicators project the GDP average annual growth of 3.8%, decline in public finance deficit of 4% in 2017, as well as decline in public debt at the level of 65.7% in 2019, Ms Stanković explaine.

    Adviser to Deputy Prime Minister for Economic Policy said that the second part of the Programme of Economic Reforms refers to sectoral and structural reforms in the context of overall economic growth. In the regard, the programme identifies 18 priority measures aimed at supporting sectoral policies.

    Some of the measures include construction of the priority section of the Bar-Boljare highway, modernisation of the railway network, construction of the underwater energy cable between Montenegro and Italy, preparation of spatial and planning documentation for the Adriatic-Ionian highway construction. The Programme will also concentrate on professional trainings of university graduates, enrolment policy reform of higher education institutions, construction of innovation and entrepreneurship centre Tehnopolis, administrative and financial support for small and medium-sized enterprises, strengthening institutional framework for enforcing contracts, upgrading process of issuing construction permits, etc.

    Source: Government of Montenegro