State Secretary Vujošević: Strong economic growth testifies that fiscal consolidation measures were well measured

State Secretary at the Ministry of Finance, Nina Vujošević, reminded the attendees of the activities of the Ministry of Finance in order to strengthen fiscal stability and competitiveness.

"The Ministry of Finance and the Government of Montenegro are implementing fiscal consolidation measures that are established until 2020 and despite these measures, we managed not to slow down economic growth. On the contrary, strong economic growth in the past year and this year testifies that the measures of fiscal consolidation were well-measured "said State Secretary Vujosevic, adding that the measures contributed to a strong growth in revenues of close to 200 million euros this year and a deficit reduction compared to 2017.

She also emphasised the importance of improving the credit rating of Montenegro and stated the activities of the Ministry of Finance in drafting laws important for further improvement of the business environment, such as: Law on Public Private Partnership, Law on Public Procurement, Law on Administrative Taxes, etc.

Among other things, the public was informed about the Law on Administrative Taxes, which is currently in public discussion, suggesting a reduction of 72 taxes, which is an important step for improving the business environment.

In the coming period, amendments to the set of laws are planned: the Law on VAT, the Law on Tax Administration, the Law on Income Tax, while the Working Group is currently working on the Law on Immovable Property Tax in the Parliament.

Finally, the State Secretary invited PKCG (Chamber of Economy of Montenegro) business people to get involved in the work of the working bodies on those laws changes, to take a look at the possibilities together, while at the same time taking into account projected budget revenues in the medium term.