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Podgorica, Montenegro (29 March 2018) — Press conference following 70st Cabinet session was held today, 29 March 2018, at the Press Centre of the Government…
Podgorica, Montenegro (29 March 2018) — Press conference following 70st Cabinet session was held today, 29 March 2018, at the Press Centre of the Government.
At today’s session, the Government adopted the Action Plan for the implementation of the Programme “Creative Montenegro: Identity, Image, promotion” 2017-2020, for 2018, with the Report on the Implementation of the Action Plan for 2017.
In a press conference following 70th Cabinet Session, Minister of Culture Aleksandar Bogdanović informed the public about the key activities of the Action Plan, stressing that in reaching European standards it is necessary to pay special attention to cultural integration.
The Minister emphasised that the Action Plan for 2018 plans the realisation of nine projects, which in different ways contribute to the contemporary revitalisation of unique and recognisable values of Montenegro.
Presenting the Report on Public Debt of Montenegro on 31 December 2017, which was adopted at today’s Cabinet session, Director General for State Treasury at the Ministry of Finance Dragan Darmanović said that Montenegro’s public debt at the end of last year amounted to about 65.1 percent of GDP.
“The state debt at the end of 2017 is about 65.1 percent, and it was made up of state debt, which amounted to about 62 percent, and the debt of local self-government, which was about 3.1 percent. Net public debt at the end of 2017, taking into account deposits, amounted to 63.45 percent of GDP. In the same period, as stated above, the state debt, as already mentioned, amounted to about 62%, while the state debt reduced by the deposit amounted to about 60.3%,” Darmanović said.
He pointed out that the external debt in 2017 increased the most due to the withdrawal of funds for capital projects for about EUR 180 million, most of which are for the motorway on the basis of Chines loan. Darmanović added that the Government also committed to financing Budget for about EUR 190 million.
“As for the internal debt, the internal debt has increased by some EUR 13 million, mostly due to borrowing for the needs of financing the Budget. At the same time, the guarantees amounted to about 7.4 percent of GDP and they recorded a further decline over the previous period, which is also the Government’s policy to reduce the issued guarantees, and thus reduce the risk that the state has on the basis of these agreements,” Darmanović stated.
He announced that at today’s session, the Government also adopted a medium-term Public Debt Management Strategy 2017-2020, stressing that the Government’s goal and priority in the next three years is to reduce the debt under the Maastricht criteria, and that it is below 60 percent.
PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO
Source: Government of Montenegro