PM Marković: Government committed to boosting standard of living, 2018 results are excellent

Podgorica, Montenegro (27 June 2018) -- Prime Minister Duško Marković said today in the Parliament of Montenegro that the Government has been working on improving the quality of life of citizens, because this is the basic goal of the economic policy and that the standard of living of citizens in Montenegro is gradually getting closer the European one, which has been contributed by strong economic growth of 4, 4% in the past year, adding that the economic indicators for this year are excellent.

"Strong economic growth of 4.4% in 2017 positioned our country significantly ahead of other countries in the Western Balkan region. That came as a result of the economic policy measures aimed at strengthening fiscal stability and increasing the competitiveness of our economy. Despite the focus on the implementation of fiscal consolidation measures, Montenegro experienced one of the highest growth rates in Europe in 2017, which makes it more successful in our eyes and in the eyes of our partners," said the Prime Minister.

He underlined that the positive economic performance has continued in 2018, as evidenced by the recently published preliminary data of the Monstat on the real growth of the Montenegrin economy of 4.5% in the first quarter of 2018.

"Positive economic trends have continued in the second quarter of this year. I am talking about the second quarter, in particular in industrial production, which increased by 31.2% in the first five months, which is mainly contributed by electricity generation, even doubled compared to the same period last year. After a long time, the growth in energy is not only a consequence of favourable hydrological conditions, but also a real expansion of production capacities," the Prime Minister explained.

The Prime Minister said that he is extremely satisfied with the results achieved, that it remains a challenge to ensure long-term sustainability of economic growth in order to reach the European quality of life even more quickly, emphasising that the Government will continue to support the development of small and medium-sized enterprises in the areas in which Montenegro has comparative advantages, especially in the north of the country.

PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO