Prime Minister and IMF agree: 2017 was successful; there is basis for 2018 to be same

Podgorica, Montenegro (15 November 2017) -- Prime Minister Duško Marković hosted today the International Monetary Fund (IMF) delegation, led by the Head of the IMF Mission for Montenegro Martin Petri. It was jointly concluded at the meeting that 2017 was the year of success for the Government and Montenegrin fiscal policy, and was estimated that there are all the assumptions for 2018 to be successful.

“The prospects of a year ago were not as they are now. For only one, you made a huge difference. I congratulate the Government of Montenegro on successfully implemented difficult measures. The prospect for 2018 will be good if the envisaged fiscal measures are implemented,” Mr. Martin Petri said at the beginning of the meeting.

Prime Minister Marković informed the guest in detail about the improved fiscal performance in 2017, thanks to the results of fiscal consolidation, as well as about the Draft Law on the Budget for 2018. He also expressed satisfaction with the strong economic growth of the projected 4% this year, with the expectation of continuing a good trend in 2018.

Mr. Petri enumerated several areas, in which the challenges can arise, as the IMF believes, stating the continuation of the construction of the priority section of the motorway as a challenge, too. As part of the medium-term economic reforms of the Government, important for strengthening macroeconomic stability and economic growth, the Head of the IMF Mission for Montenegro stressed the importance of reforms in areas such as: pension system, public administration, financing of local government and reforms in the banking sector. At the same time, he agreed with the Prime Minister of Montenegro that the possibilities of reducing the tax burden on labor should be analysed in the medium term, within the framework of tax reforms.

On this occasion, Prime Minister Marković said that the Government is firmly determined to start building the next section from Mateševo to Andrijevica right after the completion of the priority section of the Bar-Boljare motorway.

Prime Minister Marković thanked the IMF for the assistance provided by that international organisation to Montenegro.

Minister of Finance Darko Radunović also attended the meeting.

PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO