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Statement of the Ministry of Finance on the occasion of the IMF’s Board conclusions

Published date: 10.05.2010 15:46 | Author: Ivona Mihajlović - administrator

Ispis Print

The IMF’s Report is a confirmation of our efforts and activities of the Government of Montenegro being implemented in the previous period aimed at stabilizing the overall economic and financial environment, deteriorated due to economic and financial crisis. Furthermore, the report has recognized the activities of the Government in the field of fiscal adjustments and reduction of public consumption, through the budget rebalance and implementation of cost - savings measures and the adoption of medium - term fiscal framework, whose aim is to restore the fiscal balance in the forthcoming period, contributing to limiting the budgetary deficit. Moreover, the report is positively addressing the prompt response of the Government of Montenegro to the financial crisis and improved liquidity in the banking and the real sector, which is a confirmation of our efforts to preserve the macroeconomic and financial stability in Montenegro. Other active measures of the Government of Montenegro have been recognized, such as the improvement of the financial system regulation and the adoption of a set of financial law, whose adoption is planned for the end of May. Recommendations related to the competitiveness improvement, business environment, maintaining the stock of the public debt, deregulation of labor markets, etc.,  in accordance with current policies and measures implemented by the Government of Montenegro.