IMF’s Bell and PM Lukšić: Montenegro did more than other countries

Podgorica, Montenegro (6 March 2012) – Montenegro has implemented a number of reforms and done more than other countries to achieve a more balanced budget, propose structural reforms and enhance business environment, the meeting between Prime Minister Igor Lukšić and IMF’s head of mission to Montenegro Gerwin Bell concluded yesterday.

The two officials discussed current economic topics, with special attention to further measures aimed at providing long-term competitiveness of Montenegro’s economy.

IMF’s head of mission to Montenegro highlighted that, in spite of external challenges that affect Montenegro's economy, the country has achieved progress in terms of budgetary and financial consolidation as well as other areas. The IMF’s mission, that has been in their regular official visit to Montenegro, will recommend how to carry on as Montenegro has strong potential to continue pursuing reform in order to secure long-term growth and competitiveness, Mr Bell noted.

PM Lukšić underlined that in times of international market turbulences, Montenegro has undertaken all necessary measures and is pursuing reforms. “I believe we have responded in the right way to the economic challenges of today and that we have done plenty towards establishing domestic financial stability. We have tackled diligently the problems our economy has been facing in industry and implemented unpopular and tough decisions that will in the longer term serve further growth and development,” Mr Lukšić concluded.

He further noted that the Government remains committed to the policies that will utilise best Montenegro’s natural potentials and diversify its economy.

The two officials concluded that continued structural reform, business environment enhancement and public finance consolidation, especially in the times of economic disruption, are preconditions for improving productivity and competitiveness of an economic system.