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Salary subsidies continue, numerous economy support programmes begin

Published on: Jul 24, 2020 • 1:00 AM Author: PR Service
Minister of Economy Dragica Sekulić, during the presentation of the Third Government package of socio-economic measures, said that, when we talk about what the Ministry of Economy is planning, this programme includes short-term and long-term measures.

"Through the third package of short-term measures, the Ministry of Economy will start with the salary subsidies from 1 August. EUR 18 million are planned by the end of the year. In the next three months, subsidies will be awarded for employee salaries in the amount of 50-100% of the minimum gross salary, as follows:

- Suspended industries 100%
- Tourism 70%
- Hospitality industry 50%
- Road transport 50%
- Quarantine and self-isolation 50%
- Parents of children up to 7 years 50%.
- To support new employment for 6 months, we will subsidise 70% of salary.

Furthermore, as a non-refundable support to the economy, we have allocated EUR 10 million for the Programme for improving the competitiveness of the economy, which includes 17 programme lines. 

Through support measures, we also provided interest-free loans for energy-efficient home for households. That project will start on 1 October, the Minister said.

She emphasised that when we talk about long-term, development measures, they are divided into three branches, namely energy, industrial policy and mining. These measures are planned until 2024 and when we talk about the processing industry, the priorities will be the food, wood and metal industries. For these branches, we will provide interest rate subsidies and grants for investments in industry.

"In the field of energy, we will have strong investments from state-owned companies. The plans of the largest energy entities in the country include investments with a total value of around EUR 1 billion. In the period until 2024, the realisation of investment of about 734 million is expected. It is estimated that of the total amount, the realisation of about EUR 350 million can be contracted with Montenegrin companies as contractors, manufacturers and sellers. It will be a long-term signal to the economy to start the production of the simplest elements, such as: wooden and concrete poles, or in the later phase the production of aluminum-steel ropes, profiles, distribution transformers that could be produced in Montenegro," said Sekulić.

She pointed out that in mining, regardless of the coronavirus, we had a 17% increase in production. We will ensure that anyone who enables further processing through the exploitation of mineral raw materials does not pay the concession fee and at the same time receives investment grants and subsidised loans.

"Through this package, we have found a measure of what is achievable, innovative, responsible and realistic. We have completed the financial framework, provided enough energy, people and will to implement this package of measures and bring it to an end," she concluded. 

MINISTRY OF ECONOMY


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