The European Commission (EC) recommended on Tuesday (Nov 8) the Council to grant Montenegro an EU candidate country status. However, the EC noted that Montenegro need to proceed with reforms in number of areas before it could launch accession negotiations with the union. The main political concerns for the country remain the consolidation of rule of law, especially in the field of fight against corruption and organised crime. With regard to economic criteria, the EC said that although the country has taken important steps towards establishing a functioning market economy, it should further address the weaknesses and imbalances in the financial sector and the labour market. Montenegro should continue with its efforts on in aligning with European standards, particularly in some areas of the internal market, trade-related provisions, customs and taxation. We note that Montenegro applied for EU membership in December 2008. |
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