Payment of money based on compensation will be accelerated

Minister of Finance Aleksandar Damjanović explained that the previous government planned only 2,6 million euros in compensation payments for this area, while the annual decision provides that the former owners will be compensated for 30 years. Damjanovic said that for the next year, several times more money than this year's sum will be planned and that he will agree on the amount.
This will mean that the number of years for the payment of money will be reduced to 6-7

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Photo: Government of Montenegro
Photo: Government of Montenegro
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

At today's session, the government established a decree on determining the payment of compensation to the former owners of confiscated property rights in monetary funds for the year 2022, who acquired this right based on the final decisions of the commissions for the return of confiscated property rights and compensation.

Minister of Finance Aleksandar Damjanović explained that the previous government planned only 2,6 million euros in compensation payments for this area.

"It's a little inappropriate and it's an ugly attitude towards business civil rights, bearing in mind that the law left the possibility for ten times higher funds to be paid annually. The previous governments tied our hands with this dynamic work. The former owners will be compensated in 30 years. I won't tell you what that means..." Damjanović said.

He said that in the budget for the next year, he will foresee several times more money for this area. This will mean that the number of years for the payment of money will be reduced to 6-7

According to data, by the end of May, the refund and compensation commissions submitted 1.682 final decisions to the Compensation Fund with a total value of 237,128 million euros, and according to these decisions, 43,44 million were paid to the former owners.

Fund data show that for the amount of bonds of the FO01 series, the amount of liabilities can be permanently reduced by 18,52 million, while the bonds of the FO02 series are registered with a total value of 95,85 million. Of this, 57,05 million is on the account of the Ministry of Finance based on redemption receivables, real estate sales and bond redemptions.

In the special account of the Compensation Fund (restricted account) there is 19,07 million, the amount of customs paid is worth 15,98 million, tax is worth 1,12 million, the Employment Agency has 192,739 thousand, and the PIO Fund 7,59 thousand.

The Fund indicates that the total amount by which the Fund's obligations to former owners can be permanently reduced is 155,421 million euros.

The Law on Restitution of Property Rights and Compensation came into force in 2004

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