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AUTHOR:
DATE AND TIME:
14.10.2020. 18:35
MONTENEGRO is facing an economic recession which, combined with the Kovid-19 pandemic and its associated consequences, makes the outlook for a small country extremely bad, and what the new Montenegrin government must face. Public debt will reach 4 billion euros by the end of this year, representing almost 100 percent of GDP.
Podgorica, Photo: Youtube / Printscreen
According to IMF forecasts, Montenegro’s economy will weaken 12 percent this year, making it the biggest economic recession in Europe, after Spain, where GDP is expected to contract 12.1 percent. Last week’s World Bank estimate, forecasting a 12.4 percent drop in Montenegro’s gross product, shows that this is not the assessment of a single relevant global institution. In essence, the deepest recession in decades is expected, said Milutin Djukanovic, chairman of the Serbian New Democracy Executive Board and a DF official.
Will Montenegro save the economy?
It recalls that, unlike Montenegro, its neighbor Serbia, with which Montenegro, it claims, until recently lived in a common state, is in this period among the most resilient economies in Europe. According to her, the IMF ranks first in terms of development rate in Europe, along with Norway, Lithuania and Ireland.
– Of course, we should not mention Serbia by chance, but we are talking about how good economic policy can improve the situation in the country and how bad policy can roll it back. The new government of Montenegro will have a difficult job and citizens must know that it will not. easy, that we will have difficult challenges, but that we will finally be able to be as successful as others. Our job is to establish a responsible government with strong political support, which in the process of recovery of the Montenegrin economy and through the rule of law and the fight against organized crime and corruption will create the preconditions for this to be a country and a society that only advances. As for us from the DF, we are fully prepared to face all the challenges and so that Montenegro is prepared to move forward and in a short time, according to economic results, to enter the economic race with Norway, Ireland and Lithuania, said Djukanovic .
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