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Montenegrin Ministry of Finance: Q2 2015 Bulletin XXXV

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Montenegrin Ministry of Finance has published XXXV bulletin, which mostly reflects second quarter of 2015. In introduction, Minister of Finance Radoje Žugić reviewed macro-economic indicators and trends in Montenegro.

As it is stated, the reduction of the informal economy, despite of the significant results achieved, remains one of the priorities of the Government of Montenegro, with zero tolerance, respecting the principle of non-selectivity and full transparency and rigorous application of penal policy.

The growth rate in the first quarter of this year, amounting to 3.2% has been the result of upward trend in all economy sectors. The realization of this measure in the first half of 2015 resulted in the collection of current budgetary revenues amounting to 587.9 million euros, which is the increase of 2.3% in relation to comparable period in 2014, and/or 1.5% compared to the plan. To achieve the projected growth rates (3.5% in 2015, 3.8% in 2016, 4.0% in 2017 and 3.0% in 2018) it is necessary to continue with activities on the implementation of comprehensive reforms in order to eliminating structural weaknesses and attracting foreign direct investment.

The bulletin provides information on recently adopted “Montenegro Development Directions 2015-2018” strategic document. Also, the topics related to the IPA, local self-government, taxation, public procurement, financial management and control system were covered in this issue of bulletin.

Source: Ministry of Finance of Montenegro

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