Montenegrin economy is on its way to full recovery, says PM

Montenegro’s economy is on its way to full recovery and it will get out of the recession this year, Prime Minister Milo Djukanovic told the press on Friday.

He emphasised that last year was the most difficult one, adding however that the loss sustained in 2009 could be balanced.

“There is no doubt we will get out of the recession as early as this year, since all parameters in the sectors of tourism, energy, agriculture and industry indicate that the economy is growing and I can already say, without waiting for the statistics at the end of this or beginning of next year, that the Montenegrin economy is on the road to recovery, which is why good relations with investors need to be preserved,” Djukanovic said during his tour of the construction site of the Atlas Capital Centre in Podgorica.
He congratulated the Atlas Group and its partners from Abu Dhabi on their success in pushing ahead with this very costly and demanding development project, regardless of the economic downturn.
The Prime Minister underlined that Montenegro had managed to retain good relations with investors throughout the global economic crisis, giving the examples of major investment projects including Porto Montenegro and Sveti Stefan, as well as the investment plans for the Lustica peninsula.

He noted that the success of Montenegro’s recent debut on the Eurobond market was a good signal, which spoke of the credibility of Montenegro’s economy.

“It is very good that we have received fresh funds, which will enable us to bring this budget year to a successful close. There is no doubt we will set aside part of that money for next year, since the budget revenues are quite solid thanks to the economic recovery,” Djukanovic told journalists.
Montenegro recently sold the entire tranche of its Eurobonds worth 200 million euros.