The ‘Out with the old and in with the New’ Approach starts to Pay Off for Montenegro

Under the current government of Montenegro who have used the approach of ‘out with the old and in with the new’ the future of this country looks very bright indeed. New laws continue to be implemented, significant changes have bought about a renewed confidence, foreign investment has increased dramatically and of course the road to European membership is clearer and gets ever shorter with meetings being held with officials almost on a monthly basis.

In a recent International Press upd ate Zdravko Krivokapić, the Prime Minister of Montenegro, was keen to point out several facts that may have been missed over the last few months, and which would further help push Montenegro on the International Scene. The facts are as follows:

1. In 2021 Montenegro will record economic growth of 10%

2. This years income from tourism will amount to around €700m, an increase of €556m in the previous year, though understandably much of that increase has been helped by Covid Restrictions being lifted.

3. Between June & August 2021 there was a budget surplus of over €100m

4. VAT Revenues are at a higher level than they were in 2019, by around €13m, mainly thanks to the tremendous summer tourist season

5. Bank deposits increased by nearly €400m and exports of good increased by around €60m

6. Public Debt was reduced from 103% GDP (in 2020) to 88% GDP (in 2021), and this looks se t to continue falling over the next few months

7. Public finances were stabilized and a child allowance scheme was introduced, free textbooks for all primary school children and an increase in the minimum wage by 13%

8. A hedging arrangement with two European and two American banks was made in July this year, thus protecting the country from currency risk and reducing the interest rate for the loan taken from the Chinese Exim Bank .

9. New National Airline, Air Montenegro, was established and launched in record time, with new routes launched, and further on the way – perfect for increased tourism

10. Crime figures dramatically reduced and there is now a ban on the storage of tobacco products within the Free Zone of "The Port of Bar".

11. The Nature Park "Platamuni" was proclaimed the first marine protected area in Montenegro, while the "Katič" region also received the status of a nature park and protected area of national importance.

12. 45% of adults in Montenegro have now received at least the first dose of the Covid-19 Vaccine, a number which is growing at a rapid rate.

13. Support, compliments and congratulations from some of the most important European addresses, including Angela Merkel, Boris Johnson and Emmanuel Macron.

14. Further proposals for numerous laws that will enable further reforms and improve the legal system.

During his address, Zdravko also mentioned that: ‘This expert Government has achieved extraordinary results in less than ten months. We are aware that it can always be better and that is why its doors remain open for all well-meaning, honest, hard-working and professional people, who are ready to contribute to the active fight against crime and corruption, raising the national economy and living standard of all citizens, and to our European agenda and defined foreign policy course’

04.10.2021