Montenegrin economy will not be spared by the debt crisis in the United States and the European Union, Zorica Kalezic, advisor to the chief economist of the central bank, said in an interview for Atlas TV, as quoted by RTCG. The local economy and in particular foreign investment, exports and borrowing conditions, are expected to be affected the most due to the small size of the local economy and the limited ability to influence international monetary developments. Economic growth may slow down as outside recession enters Montenegro through the trade channels. The lowered ratings on American debt securities will translate into higher price of capital and a rise in risk premiums in Montenegro, which will have a negative impact on future borrowing potential of the country. Kalezic identified conservative budgetary stance and avoidance of state borrowing as the two main protection measures. |
Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more
Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more