Brexit will only indirectly affect our economy

#Cbcg #Brexit #CrnaGora


Effects of Brexit on Montenegrin economy will be mostly indirect via happenings in EU, and only until some extent direct via cooperation with Great Britain. Grat Britain is not a significant trading partner for us and investments from this country in first five months of this year were 3.9 million euros, it was said to Pobjeda from Central bank of Montenegro.

There is some uncertainty however, it was added from CBCG, although Great Britain is not a big trading partner to our country, there is risk for our economy rising from the negative influence of Brexit on EU, having in mind high coherence between our economy and EU economy via goods and financial flows.

Great Britain is not among signifcant trade partners of Montenegro.

“Last year goods export to Great Britain was 5.5 million euros, which is 1.7 percent of the total export. Goods import from Great Britain was 12.1 million euros or 0.7 percent of the total import. Percentage pf Great Britain’s participation in total foreign trade of Montengro between 2005 and 2015 was only one percent”, it was explained from this institution.

Regardless of the numbers, Montenegro as a serious candidate has a lot at stake regarding what happens with the process of joining the EU.

“In the upcoming period the situation will be solved, regarding the influence of the referendum on European and British political and economic field, and Montenegro should continue with reforms and fulfilling its obligations in this period arising from negotiation Chapters, regardless of all the influences”, it was said from the institution.

Source: Cafe Del Montenegro