Economic recovery, reforms and attracting investment top Government priorities

Podgorica, Montenegro (20 March 2012) – “Economic recovery and implementation of reforms necessary for further development of investment-friendly atmosphere are Government’s priorities in the forthcoming period,” Deputy Prime Minister Vujica Lazović said earlier today at the meeting with Heads of Mission of EU countries in Montenegro. The meeting was also attended by ministers of finance and economy, Milorad Katnić and Vladimir Kavarić.

DPM for economic policy and financial system Lazović underlined that macroeconomic stability was difficult to achieve in the time of global economic crises. He added, however, that Montenegro has responded to the challenges and created an atmosphere which will allow for further development. He also noted that the key goals the Government has been working on are the decrease in budget deficit and public expenditures, the restrictive policy for state guarantees, and new credit arrangements.

The meeting participants agreed that more investments are needed for further economic growth and, in this context, expressed willingness to work together towards creating a more competitive investment-friendly atmosphere. The EU Heads of Mission presented concrete projects whose implementation would result in the growth of foreign direct investments and create conditions for new employment.

The DPM and the ministers underlined that with good preparation, back-up set of economic measures, and international financial institutions’ assistance, Montenegro can become less dependent on the unstable international market and maintain economic stability even in times of greater disruptions. Undertaking a sound economic policy, aimed at stability, growth, and good investment projects, and in particular creating a more favourable business environment and lesser systemic risks, ensures a more dynamic and sustainable long-term growth and development. At the same time, this creates precondition for improving the living standard in Montenegro, the Government officials concluded.

The meeting also discussed the measures Government is undertaking towards enhancing the business environment, structural reform and attracting investment, as well as the difficulties foreign investors face in practice.