DPM Simović opens FREI: Montenegro's economy continues to grow dynamically, GDP growth to be above planned

Budva, Montenegro (7 May 2018) -- Deputy Prime Minister for Financial System and Economic Policy Milutin Simović told the business community and foreign investors that the Government's results so far have shown that the Montenegrin economy will continue to grow in the following years and that the increase in GDP will be above the planned level.

"In the past year, we provided long-term stability of public finances, responsible and decisive implementation of fiscal consolidation measures, carefully taking care to preserve the development component. Thanks to such a carefully developed and implemented economic policy, we achieved GDP growth of 4.4% - among the highest in Europe and created the conditions for accelerated implementation of capital development projects," said Deputy Prime Minister Simović at the opening of this year's Festival of Real Estate and Investments (FREI). 

DPM Simović recalled that he opened the last year's event announcing the country's recent membership in NATO, stressing that it is the best global security framework and at the same time a necessary condition and guarantee of stable economic growth and development, as well as a new encouragement for all the investors. He added that he announced a successful continuation of European integration and further improvement of the business environment, and that all three announcements were successfully carried out by the Government.

"Our success is best reflected in numerous international reports. According to the World Bank's latest Doing Business report, Montenegro has advanced nine places and ranks 42nd. According to the Economic Freedom Index, published this year by the Heritage Foundation, compared to the previous year, we have advanced 15 places and ranks 68th. Our progress is also recognised by credit rating agencies that have improved the position of Montenegro. Such encouraging ratings are the result of a partnership the Government carefully has established with the business community through continuous, open and constructive communication with entrepreneurs, investors and their associations," he underlined.

DPM Simović recalled of the record results of last year's tourist season, adding that he is encouraged by announcements and expectations from this season.

"The confirmation of our optimism is also the report by the World Travel and Tourism Council (WTTC) for 2018, in which Montenegro is positioned as one of the fastest growing tourist destinations in the world. Also, Montenegro ranks 5th on the Top 20 tourist locations of the future for 2017/2018 by the specialised department of the Financial Times for foreign direct investments, which represents a clear message to investors about the potential for realisation of the most demanding projects in the field of tourism," said Deputy Prime Minister Milutin Simović.

Concluding his address to the business community and investors, Deputy Prime Minister Milutin Simović said that the Government will continue to work on implementing policies that will ensure the realisation of economic development, development of entrepreneurship and further improvement of the business environment.

Through a diverse programme in various exhibition and presentational-discussion forms, FREI analyses the current investment moment in Montenegro and in the countries of the region, recognises the world trends and provides projections of future events in the real estate and investment sector.

The event gathers investors, real estate companies, representatives of state authorities, infrastructure companies, representatives of international institutions and experts in spatial planning and development, infrastructure, architects, banking, etc.

PUBLIC RELATIONS SERVCE OF THE GOVERNMENT