Montenegro’s government projects GDP growth of 3.8% in 2015

    Podgorica, Montenegro (25 September 2015) – Government of Montenegro adopted at yesterday’s session the macroeconomic and fiscal indicators for the period 2015-2018. The document has been updated in relation to the April GDP growth’s projections, which represent a starting point for drafting the 2016 budget, establishing the 2016 – 2018 fiscal framework, as well as for the preparation of the Economic Reform Programme for 2018. According to the latest forecast, the Montenegrin economy will experience higher real GDP growth than it was planned in April (3.5 percent), so that the real growth could reach 4.3% in 2015. For the period 2015-2018, the projected average GDP growth is forecast at the rate of 3.8%, namely 4.1% in 2016, 4.0% in 2017, and 3% in 2018. The debate particularly emphasised that, despite the positive trend which significantly exceeds the European average, the growth of the Montenegrin economy is largely dependent on slow economic recovery on the global level, but also on faster valorisation of unused development resources and continuous improvement the business environment necessary for attracting investment.

    Given the fact that Europe has been facing the greatest refugee crisis since the Second World War, the Government considered activities to be undertaken by competent state authorities in case of massive influx of migrants and refugees in Montenegro. Based on the analysis of the current situation in the region, the government concluded there is a possibility of diverting migration routes towards the Montenegrin border. The Cabinet reached a set of conclusions defining tasks and responsibilities of the state authorities and institutions in order to provide timely and efficient response in line with international conventions to which Montenegro is a signatory.

    Within the process of harmonisation of national legislation with that of the EU, the Cabinet approved the Bill amending the Law on Biocidal products, as well as the bills amending laws on waste management, copyright and related rights, and rafting.

    Source: Government of Montenegro