Montenegrin President Jakov Milatović said that he had discussed the worrying state of the Montenegrin economy with representatives of the International Monetary Fund (IMF) mission, who are staying in our country, today. According to a statement from the President's Public Relations Office, he assessed that Montenegrin citizens pay the highest prices in Europe for basic necessities.
"Inflation is our biggest problem, along with slow economic growth, and that is why citizens' standards are suffering day by day. Back in February, I proposed to the Government a set of ten measures to combat inflation, including limiting margins, their mandatory display alongside product prices, the formation of commodity reserves, VAT refunds for vulnerable citizens, and many others. However, this initiative to mitigate the impact on citizens' wallets has remained unanswered," said Milatović.
The Montenegrin president pointed out that more than half of employees in Montenegro earn less than 800 euros, and that the real value of the average salary is as much as 40 euros lower than last year.
"Our economy is stagnating. Tourism, which has long been the engine of our development, has been declining for the second year in a row. Also, the trade balance has further deteriorated, and the coverage of imports by exports is at a historically low level of 13 percent. This is a devastating figure. Party-based employment and poor management continue in state-owned enterprises. Elektroprivreda is recording millions in losses: the ships of Crnogorska plovidba are being sold, while the concession procedure for Montenegrin airports is being carried out in a questionable manner," said Milatović.
He said that Montenegro must no longer waste time on this policy.
"We need a focus on the economy, on investments, on secure jobs. In that sense, the European Union is our greatest development opportunity that brings new markets, new investments and brings investor confidence. We must build the economy on four pillars: agriculture, energy, IT and tourism. And small and medium-sized enterprises must be the engine of our development. I am not looking for miracles - I am only looking for sound management of state assets, not borrowing that leads to debt, but wise management that strengthens our economy. And finally - if we want a successful Montenegro, we must have the full trust of citizens. And that means one hundred percent transparency and zero tolerance for corruption. Only when we know where every euro goes, can we have the power to progress and achieve our goal, which is EU membership, but above all a European standard of living for our citizens. It is time for Montenegro to finally show its strength - the strength of a growing economy, the strength of a state that keeps its word and the strength of a society that believes in its own future," concluded the Montenegrin president.
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