This report covers the key macroeconomic and financial releases as well as the political events from Montenegro for the period of February 6 - March 5, 2015.
Montenegro’s government is considering the introduction of economic citizenship in order to attract more foreign investors.
The European Bank for Reconstruction and Development plans to invest €100mn in projects in the country this year, up from €76mn in 2014. The bank’s total investments reached €400mn so far in energy, agriculture, trade, industry and tourism projects.
The country’s Liberal Party has drafted a bill on consumer bankruptcy that would allow insolvent and overburdened by debt individuals to reprogram their liabilities.
A group of 16 non-government organisations (NGOs) from Montenegro, its neighbouring countries and Italy, have sent a letter to Italy's A2A, asking the company not to agree with Montenegro’s government plan to construct a second unit at the country's sole thermal power plant TE Pljevlja as they see the project as negative for the country in the long term. Currently, A2A and Montenegro’s government are in talks on the thermal power unit construction. At the same time, A2A claimed it has completed all its obligations defined in the 5-year management contract it had signed with Montenegro’s government for EPCG.
Key points:

• Public debt rose 4.8% y/y to €1.96bn at end-November, equalling 57.8% of the full-year GDP forecast
• The number of foreign tourists visiting Montenegro increased by 24.9% y/y to 14,102 in January
• Industrial production contracted by 3.4% y/y in January
• Unemployment rate remained unchanged at 15.14% as of early March
• The share of non-performing loans (NPL) in Montenegro rose to 16.55% in January