Today, the Government adopted the Proposal for a Decision on Montenegro's borrowing for the next year, which enables the state to borrow 370 million euros for the purposes of financing budget obligations, the Bar-Boljara highway section, and debt repayment.
The Director General of the State Treasury Directorate at the Ministry of Finance, Dragan Darmanović, said that of this amount, 190 million euros will be needed to finance budget obligations, the capital budget and debt repayment, while 180 million will be intended to finance the section of the Bar-Boljara highway. .
"It is defined that the state can borrow up to 250 million euros in the next year to refinance the debt. It's about the continuation of the arrangement we had with the World Bank (WB) this year and it's about the possibility of further cooperation with the WB," Darmanović explained after the Government session.
According to him, this possibility was left because there are certain programs with the SB that the state must fulfill, and depending on the dynamics of those reforms, conditions will be created for that arrangement with the SB to be realized.
"There is also the possibility to be charged for the implementation of the construction project of the Smokovac-Mateševo highway section in the amount of the necessary funds for the implementation of all activities," Darmanović added.
The decision also provides that the state can borrow for liquidity purposes during the year, and the state is obliged to return these funds by the end of the current year.
"All the aforementioned duties are in accordance with the annual Budget Law for the following year," Darmanović said.
The proposed decision defines credit arrangements that will be concluded during the next year, financial institutions, amounts as well as projects for which funds will be provided. They will relate to the construction of road infrastructure, schools, kindergartens, implementation of projects in the field of water supply, waste water and energy efficiency.
"This decision stipulates which credit arrangements the state can issue guarantees for," Darmanović added.
Answering the question about the amount of the national debt, he said that at the end of the third quarter it amounted to 2,72 billion euros or 67 percent of the gross domestic product (GDP), and some projections are that it will be around 3,2 billion at the end of this year. billion or about 70 percent of GDP.
Darmanović, answering the question to comment on the criticism of the opposition when it comes to the government's policy of issuing guarantees, said that the executive power leads a restrictive policy.
"They are issued to companies that are financially sound and stable. A large part refers to the electrical transmission system, as well as the Electric Industry (EPCG)," added Darmanović.
He said that they do not share the opinion of the opposition that these guarantees are a risk for the state.
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