Statement of Deputy Prime Minister and Minister of Finance, Igor Lukšić, Ph.D, with regard to adapting the Report on state debt of Montenegro as of 31st December 2008.

Internal debt of Montenegro will probably grow in this year. We are estimating that the state debt in this year will amount to 32%, unlike the current one which at the end of last year amounted to 26,8%. The restitution process and the payment of the foreign exchange currency savings through the bonds which should be issued, are the main reasons for increasing the amount of the internal debt. The debts of the Railway of 115 million will be assumed, with the aim of accelerating the restructuring process and subsequent privatization process. The Government at the end of last year buy-out the liabilities towards banks in the amount of 27,5 million - investment liabilities and cash for which the Government issued guarantees for the payment of redundancy to employees of Obod company. In the second group of buyout is the amount of 14,227 million of the Railway company, and in the third group the amount of 44 million to Prva banka. For all aforementioned amounts the state did not borrow since it engaged the surplus reserves