The fiscal position in Montenegro is deteriorated and government debt level rise is a problem for financial stability, which is one of the priorities, so the state needs to cut costs, - summed up in the report of the European Commission (EC) on the development of the economy in Montenegro this year.
The report said that the priority for Montenegro should be the adoption of measures to increase the country's income. "The reasons for concern are the rapidly growing national debt and a high budget deficit and high external imbalances and unemployment" - the main conclusions of the report, published on the website of the European Union Delegation (EU) in Montenegro.
"Immediate corrective actions are required, which can be found in the recommendations of the Program of Economic Reforms (ERP). Some progress has been made in improving the quality of infrastructure, the energy market and the economy, working out in detail. Support for small and medium-sized businesses is modest but gradually develops. However, significant efforts are still needed in order to develop human capital and export competitiveness in the industry. Also, significant progress has been made in the area of free movement of goods, agriculture and rural development, food safety, veterinary and phytosanitary policy, energy, customs union and financial control. Montenegro in the future should focus its efforts on issues of conducting of competition policy, the economy and the currency".
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