Montenegro advances nine places on Doing Business list of World Bank

Podgorica, Montenegro (31 October 2017) -- In the new World Bank Doing Business report forJune 2016 – June 2017, Montenegro is ranked 42nd on the lost of 190 ranked countries, and thus, in comparison with last year's revised Report, made progress for 9 seats.

Pursuant to the Report, published for the fifteenth time, Montenegro recorded a reform in the framework of “getting electricity” indicator. With this reform, Montenegro reduced the last year’s electricity price (% per capita) from 440.5 to 425.6, while the Supply Reliability and Transparency Tariff Index recorded a rise in value from 0 to 5. In this way, it made progress in 40 places, compared to DB2017, taking 127th place in the global ranking.

Montenegro also made progress in the following areas: “issuing building permits,” “real estate registration” and “resolving insolvency problems”.

In the area of “issuing building permits”, Montenegro made progress in 15 places compared to DB2017 taking the 78th place in the global ranking. Progress was recognised in the part of the cost reduction (from 11.3% to 10.9% of the value of the warehouse).

In the area of “real estate registration”, Montenegro progressed for 2 places, occupying 76th place. Although there was a positive change in the global ranking, Montenegro maintained the same values of all sub-indicators within this indicator, except for the cost that even recorded a slight growth (from 3.1% to 3.2% of the property value). It is assumed that the decline of other countries in this area caused this year’s rise in Montenegro.

In the area of “resolving insolvency problems”, Montenegro recorded progress from 40th to 37th position, as improvement was recorded in the “recovery price” sub-indicator (from 48.6 to 49.3 cents per dollar).

It is important to note that in none of indicators covered by Report, Montenegro did not regress in the quality and efficiency of the provision of services (the number of procedures, the duration of the procedure, as well as the percentage of costs per capita remained the same), but, due to intense reform process carried out by other countries, the country’s position in the indicators of “starting a business,” “obtaining loans,” “protection of minority investors,” “paying taxes,” and sub-indicators “cross-border trade” and “execution of contracts” moved.

Among the countries in the region, Macedonia (11), Slovenia (37) and Kosovo (40) are ranked better than Montenegro, while Serbia (43), Romania (45), Bulgaria (50), Croatia (51), Albania (65) and Bosnia and Herzegovina (86) were ranked worst.

MINISTRY OF ECONOMY

MINISTRY OF FINANCES