Statement of the Ministry of Finance on the occasion of the latest EBRD economy growth forecasts

Bearing in mind the global economic situation and economic financial crisis situation, the Government of Montenegro in the previous period, has developed a number of economic growth scenarios for 2010. Nominal amount of GDP in 2010, is estimated at 3,117 million €, representing a nominal growth of 3.8% of GDP for 2009.. Real GDP growth in 2010, is estimated at 0.5%. Certainly, as a serious and responsible Government, in the budget we anticipated the real growth in the crisis scenario of -2% of GDP, which implies an additional adjustment of consumption. Recently, at a meeting with representatives of the Directorate General for Economic and Financial Affairs of the European Commission, it was assessed that Montenegro is the only country in the region that developed a positive and a negative macroeconomic scenario and other countries in the region are recommended to apply the same model of the budget planning. Different international institutions have given different growth forecasts of the world economy, and in the light of the above, the latest estimates of the EBRD, as well as all other ones, should be reviewed as such. We will complete the final data on GDP growth after the publication of the official data by MONSTAT.