Press release from 49th Cabinet session

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    Podgorica, Montenegro (14 November 2017) — At today’s 49th session, the Government of Montenegro adopted the Projections of Macroeconomic and Fiscal Indicators for the period 2017 – 2020. and passed the Draft Law on the Budget of Montenegro for 2018. The document, adopted by the Government, projects real economic growth at the rate of 4% this year, and of 3% in 2018.

    Podgorica, Montenegro (14 November 2017) — At today’s 49th session, the Government of Montenegro adopted the Projections of Macroeconomic and Fiscal Indicators for the period 2017 – 2020 and passed the Draft Law on the Budget of Montenegro for 2018.

    The document, adopted by the Government, projects real economic growth at the rate of 4% this year, and of 3% in 2018.

    The budget for the next year is planned in the total amount of EUR 2,001 billion, and is based primarily on the outstanding financial and economic results achieved this year.

    Today’s discussion underlined that the Government, despite numerous challenges and a very unfavourable environment at the beginning of the mandate, showed ability and determination to achieve its programme commitments and goals.

    It was emphasised that the Draft Budget for 2018 is based on realistic assumptions and ensures further development of the economy, continuation of capital projects and social security, as as well as stabilisation of public finance that should result in the shift from the deficit to the budget surplus zone from 2020.

    Development component of the budget is especially reflected in the planned increase in funding for science, education, agriculture and entrepreneurship with a view to building a knowledge-based society and new technologies.

    The Government’s commitment to strengthening social security is reflected in a significant increase in allocations for health, and pension and disability insurance funds, thus guaranteeing better health services and harmonisation and regular payment of pensions.

    As to fiscal policy, the Government will continue to hold the principle that the current budget spending will be financed from the original budget revenues in the next year.

    PUBLIC RELATIONS SERVICE OF THE GOVERNMENT

    Source: Government of Montenegro

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