New fiscal consolidation measures

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The Government of Montenegro has achieved good and encouraging results when it comes to implementing fiscal consolidation measures since December last year, PM Markovic stressed at the meeting with the Head of IMF Mission for Montenegro Martin Petri.

However, there is a need for introducing new measures which will be defined by the Government’s mid – term fiscal strategy in order to achieve long-term sustainability of the public finances, PM Markovic added.

Due to the Government’s active policy, the average number of employees has increased for more than 7 000 in the first three month of the following year, PM Markovic explained, adding that the budget income is higher for 7,7% comparing to the first five months in 2016.

What is particularly encouraging is the fact that there is no deadlock in the investment activities, but only the higher interest of the foreign investors, PM Markovic underlined. Fiscal consolidation measures should not be an obstacle to growth and development, PM Markovic stressed, adding that Montenegro’s membership in NATO will raise the trust of the foreign investors in our system and legal certainty in the country.

Commending the overall progress of the country, Mr Petri said that the IMF is encouraging Montenegro to continue consolidating its public finances and meeting the agenda which includes broad structural reforms in various areas.

The meeting also discussed the Government’s mid – term Fiscal strategy which is aimed at contributing to the faster recovery of the public finances, as well as to the better rating of the country in the international financial market.

Source: Radio Television Montenegro