Public dept fall from 2019

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Prime Minister Dusko Markovic said that the new measures of fiscal consolidation should eliminate the budget deficit by the end of 2019, when Montenegro should transfer into the phase of the budget surplus.

After the meeting with Vice President of the World Bank, Cyril Muller Prime Minister said at a press conference: “Our plan is that the new measures of financial consolidation which we currently discuss with the World Bank, as our partners, should lead us into a situation that, in three years time, we manage to eliminate the budget deficit and transfer to the stage of budget surpluses. In that time public dept should gain a downward trend, ‘’ Markovic said.

The Prime Minister said that it was spent more than earned in the previous years. “That practice must be stopped. No more borrowing for consumption, but only for development which should stimulate our economy, create new jobs for the employment of young people and better and faster evaluation of our natural and other resources ” , said Markovic.
He announced that the Government of Montenegro will prepare medium-term fiscal strategy by the end of May, noting that fiscal consolidation is a key condition for obtaining the loan from the World Bank for Development Policy.

Source: Radio Television Montenegro