The Government adopted the Proposal for Amendments to the Law on PIO

"Accordingly, it is proposed to introduce the payment of the difference up to the lowest amount of pension to users of proportional pensions, if the aggregate amount of their proportional pensions is less than the amount of the lowest pension determined according to Article 29 of the Law, in the amount of 450 euros," the Government announced after Government sessions

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

Today, the Government approved the Proposal for Amendments to the Law on Pension and Disability Insurance, which proposes the introduction of the payment of the difference up to the lowest amount of pension to beneficiaries of proportional pensions.

The Government has announced that amendments to the Law are proposed in order to improve the socio-economic position of beneficiaries of the right to a proportional pension, in accordance with the international agreement on social security.

"Accordingly, it is proposed to introduce the payment of the difference up to the lowest amount of pension to users of proportional pensions, if the total amount of their proportional pensions is less than the amount of the lowest pension determined according to Article 29 of the Law, in the amount of 450 euros," the Government announced after Government sessions.

It is also proposed to reduce the contribution for extended insurance paid by insured persons from Article 66 of the Law.

Today, the Government approved the Proposal for Amendments to the Law on Payment Transactions.

In the discussion, it was emphasized that this is a regulation, the adoption of which represents the fulfillment of one of the criteria for the temporary closure of negotiation chapter 4 - Freedom of movement of capital.

"The proposed solutions have created prerequisites for the further development and improvement of the provision of payment services on the territory of Montenegro and the complete equalization of the business rules of Montenegrin payment service providers in the domain of European regulations," the announcement states.

Also, more precise definition of business rules in SEPA payment schemes ensures continuous compliance of requirements for domestic payment service providers in relation to the same parties in the EU.

"The regulation improves transparency in the field of issuing authorizations for the provision of payment services, which will have a positive impact on the entry of new participants into the payment services market," the statement added.

The government adopted the information on the credit debt of the Budvanska Riviera Hotel Group with NLB Bank.

On this occasion, consent was given for that company to borrow from NLB Bank, in the amount of ten million euros, under the conditions defined in the Draft Loan Agreement or more favorable.

"As stated in the request, the Board of Directors of the company made a decision to approve the loan, by concluding a loan agreement with NLB Bank, in the amount of ten million euros, at a fixed interest rate of 3,9 percent, with a loan repayment term of 120 months, including a grace period of up to 12 months," the announcement states.

The purpose of the loan is to carry out works on the adaptation of 334 rooms in the tourist resort Slovenska plaža, which would be financed from the mentioned loan funds and the company's own funds in the amount of 3,79 million euros.

"Based on the performed economic and financial analysis, it was determined that the company's profitability is growing, that it is solvent, and that it is able to cover its obligations to creditors and investors from its own income. Bearing in mind the above, it was assessed that the credit arrangement will not threaten the liquidity of the company, while the standard of the facilities in question will be raised from three to four stars, thereby significantly improving the quality of the accommodation facilities, as well as the competitiveness of the tourist resort Slovenska plaža", said the Government.

In order to fulfill the final benchmarks of Negotiating Chapter 21 – Trans-European Network and for the purpose of realizing the obligations as part of the final Benchmark 2, the Government adopted the Single List of priority infrastructure projects for the energy sector.

"The list contains 15 projects with a total estimated value of around 1,38 billion euros. As the final Criterion 2 refers to priority projects in the energy sector in accordance with Regulation 1316/2013 on the establishment of the Connecting Europe Facility, it was necessary in accordance with the Methodology of the Western Balkans Investment Framework (WBIF) to update the List, based on which the European Commission will, in in accordance with the defined priorities at the state level, make decisions about which projects will be financially supported by funds from WBIF, as the main mechanism through which they will be implemented financial support of the European Union for the region, in the period from now until 2027", the announcement states.

The government adopted requests for the approval of de minimis aid to Montecargo and the Maintenance of Railway Rolling Stock.

"On this occasion, the Ministry of Finance is tasked with providing amounts of 150 euros each from the current budget reserve for the needs of those companies.

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