In the medium term, the Montenegrin economy will grow at an average annual rate of 3,7 percent, according to the Draft Program of Economic Reforms for the period from next year to 2027 (PER).
That document was presented today at a round table organized by the Ministry of Finance, with the support of the United Nations Development Program (UNDP) in Montenegro, through the project Strengthening Public Finance Management in Montenegro, financed by the Slovak Ministry of Finance.
During the round table, a draft of the document was presented and the ways in which stakeholders can best contribute to the creation of the final document were discussed.
The program of economic reforms is being prepared by the Government with the participation of all key actors of the social community, and it will be fully harmonized with the Bill on the Budget.
In accordance with this year's guidelines of the European Commission for the preparation of the Program of Economic Reforms for the period 2025-2027. year, the document consists of two key chapters: the macroeconomic framework and the fiscal framework.
National PER coordinator, State Secretary in the Ministry of Finance, Bojana Bošković, said that the novelty compared to last year's Program is that structural reforms, which were previously an integral part of the Program, are now part of the Reform Agenda/Growth Plan.
"In this context, a special chapter was added on the alignment of the Reform Agenda with the macro-fiscal framework, with the aim of coherence and credibility of economic and fiscal policies", added Bošković.
The general directors of the MoF, Bojan Paunović, Miloš Mišković, Andrijana Ulić Rajović and Jelena Jovetić, also spoke about PER 2025-2027.
During the presentation of the document, it was pointed out that according to the basic macroeconomic scenario, the Montenegrin economy in the medium term will grow at an average annual rate of 3,7 percent, that is, by years, 4,8 percent in the next year, 3,2 percent and 3,1 percent in 2026 and 2027.
"Due to the slowdown in price pressures at the European level, a gradual slowdown in inflation is expected, which will average 2,9 percent in the period from next year to 2027," the announcement states.
Strong household consumption, increase in minimum and average earnings and minimum and average pensions, tax policy and business environment reforms, growth in investment activity and continued growth in tourism, along with sectoral support measures and relevant forecasts of economic activity and inflation in Europe, form the basic assumptions of the macroeconomic scenario in the medium term.
"The period from the next year until 2027 is characterized by the beginning of an intensive investment cycle through investments, both through the capital budget and through grants provided by the European Union, the most significant of which are for the construction of the highway, for the section Andrijevica-Mateševo and the reconstruction of the railway infrastructure which have already been provided", said the Ministry of Finance.
At the same time, through the Growth Plan for the Western Balkans, 383 million euros will be available to Montenegro in the period from now until 2027 for the implementation of structural reforms and investment in infrastructure.
"The remaining funds, necessary for the ambitious infrastructure construction plan, which will enable the expansion of the economic potential, will be provided from credit funds," the statement added.
The round table was attended by representatives of the EU Delegation in Montenegro, the Embassy of Germany, the Union of Free Trade Unions, the Chamber of Commerce, UNICEF, the Secretariat of the Competitiveness Council, the Directorate of Statistics, the Capital of Cetinje, the Municipality of Petnjica and other interested public.
During the constructive discussion, a number of proposals and suggestions were announced, which, after the end of the public discussion, the Working Group for the preparation of the PER will review and process and then finalize the text of the Program of Economic Reforms.
The plan is for the government to adopt PER 2025-2027 in January next year and submit it to the European Commission.
Proposals and suggestions, in connection with the mentioned Program, can be submitted during the duration of the public discussion, ie until December 28, to the e-mail addresses ivana.radojicic@mif.gov.me and anastasija.perucic@mif.gov.me.
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