World Bank to help with fiscal consolidation

#SvjetskaBanka #CentralnaBankaCrneGoreCbcg #FiskalnaKonsolidacija

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World Bank is ready to help Montenegro in the process of fiscal consolidation, with technical help in other areas, said World Bank Vice President for Europe and Central Asia Cyril Muller during the Netherland’s meeting of MMF and WB in Kiev, Ukraine.

The main theme of the meeting was how to achieve fast economic growth of countries in the constitution. Milojica Dakić, governor of CBCG and vice governor Nikola Fabris also took part at the meeting.

Montenegrin delegation met many high officials of MMF and WB. During the meeting with Muller, economic situation in Montenegro was discussed.

“Fiscal area seems to represent the key challenge”, said CBCG.

Muller said that key global challenges are political stability, economic development and climate changes.

“In order to successfully respond to these challenges, we need to adjust fiscal spendings, make reforms of financial system and provide price stability and flexibility of monetary courses. We need to improve infrastructure, education and economy”, he thinks.

Long-term plan should be dealing with climate changes. Muller accepted an invitation to visit Montenegro.

David Lipton, first vice director of MMF, said that global economic growth is still disappointing. According to MMF estimates, the growth in 2015 was 3.1 percent, and in 2016 it is expected to be 3.2.

“He said that the slow pace of some countries is worrisome, such as Russia, China and Brazil. He recognized as key factors of fast development political stability, sound economic policies and implementation of new technologies”, it was said in CBCG.

It was agreed that representatives of Ministry of Finance visit Montenegro in September, in order to continue discussion on concrete issues.

Source: Cafe Del Montenegro