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European Commission commends Montenegro’s Economic and Fiscal Programme

European Commission commends Montenegro’s Economic and Fiscal Programme
Published date: 24.02.2011 17:31 | Author: Ivona Mihajlović

Ispis Print

Montenegro’s Economic and Fiscal Programme (EFP) 2011-2013 was commended at today’s meeting between Finance Minister Milorad Katnić and his associates and representatives of the European Commission Directorate General for Economic and Financial Affairs (DG ECFIN) and EU Delegation to Montenegro.

The main topic of the meeting was the macro-economic and fiscal framework and the outlook for the next medium-term period.

Antonio Sanchez, economic analyst at DG ECFIN, especially commended the structural reforms Montenegro proposes in its 2011-2013 EFP submitted to the EC in late January. He pointed out the importance of harmonising the EFP with the Budget for 2011, adding that a special emphasis should be put on the design of alternative macro-economic and fiscal scenarios.

Minister Katnić assessed this document as a good starting point for the preparation of the Pre-accession Economic Programme (PEP) which Montenegro will prepare for next year.

He acquainted DG ECFIN representatives that Montenegro is emerging from recession and is experiencing gradual recovery. He said that he expects the real GDP growth to reach 2, 5% this year.

Towards the end of the meeting, Mr Sanchez commended the Finance Ministry transparency in publishing economic plans and data, concluding that Montenegro is on the right track and should continue.