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Podgorica, Montenegro (21 November 2017) — Prime Minister Duško Marković said earlier today at a meeting with representatives of the foreign business community in Montenegro that the economic policy measures pursued by the 41st Government in the past year yielded outstanding results in economic and developmental terms, stressing that those results were achieved in a unfavourable political environment marked by the destruction and intent to compromise every positive policy and the Government’s accomplishments…
Podgorica, Montenegro (21 November 2017) — Prime Minister Duško Marković said earlier today at a meeting with representatives of the foreign business community in Montenegro that the economic policy measures pursued by the 41st Government in the past year yielded outstanding results in economic and developmental terms, stressing that those results were achieved in a unfavourable political environment marked by the destruction and intent to compromise every positive policy and the Government’s accomplishments. Addressing the Foreign Investors Council, Prime Minister Marković underscored that the Government has built immunity to such a political environment and achieved impressive results acknowledged by credible international institutions and organisations, namely the World Bank, International Monetary Fund and the European Commission, which makes the Government particularly pleased and gives additional incentive to continue its work.
Emphasising that despite the challenges, the European economy is recovering with growth projection of 2.3% this year and that the region of the Western Balkans is expiriening economic growth op projected 2.6%.
„Očekivani realni rast crnogorske ekonomije je znatno iznad planiranog“ – rekao je premijer dodajući da je planirani rast bio 2,7 odsto, a da je za prvih šest mjeseci imala rast od 4,2 odsto, da je u drugom kvartalu rast bio impozantnih 5,1 odsto – što je jedna od najvećih stopa u Evropi – i da je na godišnjem nivou rast projektovan na 4 odsto.
“The expected real growth of the Montenegrin economy is well above the planned level,” the Prime Minister noted, adding that the projected growth was 2.7%, and that in the first six months it experienced growth of 4.2%, that in the second quarter economic activity growth was at the rate of impressive 5.1 percent – one of the highest in Europe, and that annual growth rate is projected at 4%.
The Prime Minister said that the excellent tourist season had particular impact on economic growth.
“In 2017, Montenegro achieved one of its most important foreign policy priorities – NATO membership,” Prime Minister Duško Marković said, adding that NATO membership has provided unprecedented opportunities for the growth of the Montenegrin economy and new employment, which confirms the correctness of the Montenegrin politics that did not see NATO membership only as a matter of security, but also of economy and development.
The Prime Minister acquainted the Council of Foreign Investors with the results of fiscal consolidation.
“In parallel with these measures, we continued to work on our policies in the field of structural reforms,” the Prime Minister underscored, reminding the foreign investors of social policy measures from the beginning of the Government’s mandate.
“Today, at the end of 2017, we have a more credible and sustainable social policy and a policy of more equitable distribution of social funds,” said the Prime Minister.
The Prime Minister informed the Foreign Investors Council about the ongoing development projects, emphasising that the Government is particularly focused on the development of the northern region.
Speaking about plans for the future, the Prime Minister said that in 2018 there will be no new fiscal consolidation measures, and that in a dialogue with stakeholders, including the Foreign Investors Council, the possibilities of reducing the tax burden on labour will be considered.
“The key pillars of dynamising economic growth in the coming period are the following: strengthening macroeconomic stability (fiscal and financial) and increasing competitiveness. Until 2020, we will continue with the full implementation of the fiscal consolidation measures contained in the Fiscal Strategy, which is already reflected in the Draft Budget Law for 2018. Our goal is to reduce the budget deficit by implementing these reforms and enter into the budget surplus as early as 2020, in order to provide the preconditions for reducing the public debt until 2020 and to refinance part of its due principals in 2019 and 2020,” said the Prime Minister Duško Marković.
At the end of the opening speech, the Prime Minister listed concrete reforms the Government plans to implement in order to further strengthen the business environment and the growth of investment and employment: the tax reform, which, he said, will not imply new burdens for the economy, but, on the contrary, possible reduction of the income tax burden; reforms aimed at combating the informal economy and strengthening fiscal discipline; full implementation of the Law on Spatial Planning and Construction of Facilities as one of the more radical reform measures; reforming the concession policy by adopting a new law on concessions and public-private partnership law; reform of the public procurement system where some basic interventions have already yielded very positive results; public administration reform with a focus on further increasing the efficiency of the state administration as a service for the economy and citizens; increasing the efficiency of the work of the cadastre and further strengthening the efficiency of the entire administration; continuation of reforms in health care and education system.
PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO
Source: Government of Montenegro