In the current year, more moderate economic growth is expected compared to last year, according to the macroeconomic report of the Central Bank (CBCG) for the second quarter.
In the report, which was adopted by the CBCG Council, it was stated that the data for the first six months indicate positive trends in the transport, trade and construction sectors, while, on the other hand, a decline in industrial production was recorded.
"Positive trends were recorded on the labor market, where there was a significant increase in the number of employees and a decrease in the number of unemployed," the CBCG announced.
Data on bank operations for the first six months of the current year show that the banking sector operated safely and stably, with high parameters of liquidity and solvency.
"The capital adequacy ratio at the end of the second quarter was 19,5 percent, with continued stable operations of banks," the CBCG report added.
Consumer prices in Montenegro in the first half of the year were on average 4,8 percent higher compared to the same period last year, while in June of this year prices were 4,1 percent higher compared to the same month last year.
"This was stated in the Report on price trends for the second quarter, which was also adopted at the Council session. The model inflation estimate for December of this year forecasts that inflation will range from 2,2 percent to 5,1 percent, with a central projection of 3,5 percent," the announcement states.
The CBCG expert assessment is similar to the model and indicates that this year inflation can be expected in the range of two percent to four percent, with a central projection of three percent.
The Council also adopted the Report on the results of the survey on the credit activity of banks for the second quarter. The banks assessed that in the second quarter of the current year, the credit conditions for the economy and the population were eased, in the form of lower interest margins for loans.
"Credit conditions for the household sector have been significantly eased, which was influenced by the joint action of the CBCG and banks to create more favorable conditions for household borrowing. Also, in the survey, the banks pointed out that there was a reduction in commissions and fees and an extension of the maturity and grace period, as well as an easing of requirements in terms of collateral, mortgage value and participation and deposits", said the CBCG.
In the third quarter, banks expect further decline in interest margins.
At the session, a resolution was passed on granting approval for the provision of payment services to the payment institution PrestoPay from Podgorica.
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