Montenegro makes progress on World Economic Freedom Report by Fraser Insitute

According to the new World Economic Freedom Report for 2016, published by the Fraser Institute, Montenegro has improved its position by 18 places and with a score of 7.04 is 72nd on the list that includes 162 countries.

In the previous report, Montenegro was 90th with a score of 6.74.

Improved rating is the result of progress in the indicator of "size of government" that deals with public spending, transfers and subsidies, as well as marginal tax rates.

Alongside the Ease of Doing Business Report of the World Bank and Montenegro's credit ratings by the agencies "S&P" and "Moody's", the ranking in the Fraser report is another confirmation of the reform efforts of the Montenegrin Government in maintaining the stability of public finances and the implementation of the measures foreseen by fiscal strategy.

When it comes to the countries in the region, Bosnia and Herzegovina 98th, Serbia 84th, Croatia 74th, while Macedonia, Slovenia and Albania are better positioned than Montenegro.

It should be noted that Serbia and Croatia improved their position by 5 or 2 places, while other countries in the region either worsened or maintained their position, which makes Montenegrin progress even more significant.