Tuesday, December 30, 2008

Djukanovic forecasts 2009 for Montenegro

December 30, 2008

According to PM Milo Djukanovic, 2008 was the most successful year in the short history of Montenegro. In 2009, the economic crisis will slow the development of the take-off of Montenegro, but has a basis for the expected growth of the economy of five percent in the next year, a drop in unemployment to 24,000 and the average salary of 515 euros.

Gross domestic product (GDP) has already exceeded 3 billion euros - the next year’s GDP is projected to be around 3.7 billion euros. This was declared at a press conference in the Villa Gorica by Prime Minister Milo Djukanovic, who also added that Montenegro has not been spared by the crisis, which has greatly affected Europe, but it is important that in 2009 Montenegro maintains its dynamic economic growth.

The government has defined a set of fiscal measures and socio-economic policies that will mitigate the negative consequences of the crisis in Montenegro. A law on measures to support the banking system and help define the instruments, with a budget for next year, has been adopted, and the package of measures which will reduce the fiscal burden of citizens and the economy, such as: (1) the reduction of burdens on earnings, before the time of internal debt repayment on the basis of restitution and the old foreign currency savings, and (2) the abolition of benefits for Motorways in the price of fuel. These measures should improve the competitiveness of the economy.

Unemployment today is not a problem in Montenegro, which has one of the fastest growing economies in Europe. Therefore, there is no reason for “strahovanje” of the realization of the key parameters of “zacrtanih” for the next year. Iin favor of this forecast comes preliminary data by the Central Bank, which reports that the net inflow of foreign direct investment for 11 months was 538.5 million (or 18 percent) more than in the previous year. We will also continue with preparations for the implementation of strategic investment projects, such as: (1) the highway Bar - Boljare the total value of 2 billion euros for which the tender has been extended to March 2nd of next year. Our estimates, despite the announcements for the reduction of interest for travel in the next year, say that tourism in Montenegro for 2009 will increase to 5 per cent.

Arabs want the sea

A key interest of investors from the Middle East is investment/purcj\hase of our sea coast, where they have submitted offers for the Adriatic shipyard, said the prime minister. If we accommodate their plans for these attractive locations, it will significantly influence the development of the economy of Montenegro. Tender for the purchase of the sea should be published in the next two months.
In addition, the government has adopted a draft for the 15 study sites for valorization of tourist sites in the zone Morskog - Island cvijeća, Valdanos, Saint Marko, Čanj ... These are the prerequisites for large investments in this area.

On Kosova

Djukanovic reiterated that Montenegro has no open issues with its neighboring states. Recognition of the independence of Kosova is proof that measures to resolutely follow the state interests will strengthen the stability of the region, said Djukanovic.

On NATO membership

Montenegro is ready for the next steps in approaching NATO. He reminded everyone that Montenegro became a member of the Adriatic Charter, and was officially accepted membership in the MAP program, the courts of the NATO Alliance. After successful dialogue and responsible implementation of the IPAP and PARP programs, we are ready for further steps on the way to NATO, said Djukanovic.

~ Mira Milovic, I. Koprivica

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