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Earlier these days there was a session chaired by Governor Miljoica Dukic, in which the Council of the Central Bank of Montenegro announced that the GDP growth of the 2015 will be up to 4%. More specifically, Montenegrin economy is on the rise but will face several risks in the future.
The processes and implementation of the policy of the Central Bank of Montenegro were adopted by the Council for the two previous months (August and September) of this year. To be more accurate, the Governor’s Report was implemented by the Central Bank in accordance with the plan for 2015.
There was a statement in which the Council analyzed and rated the possibility of risks to financial stability, although considered that the financial system is firmly established and the level of potential risks is not that high: “These Recommendations to the Government of Montenegro for Economic Policy in 2016 were adopted by the Council. The expected rate of real GDP growth is up to 4% for the 2015, growth that was not expected, and represents the high percentage of the tourism and such activities. The reason that there was a blossom of the tourism was the good weather conditions but that led to some drought issues and vulnerabilities that can be caused in agriculture and the energy section in the future.”
Moreover, due to the construction of the highway is expected the budget deficit to be pretty high, and the Council supports that Montenegrin economy is on its bloom but difficulties will arrive. The Council feels that that fiscal policy is the future of the economic policy in 2016, and public spending should remain at the current levels of the budget.

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Petros Stathis

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