Montenegro Country Report - March, 2016

Montenegro Country Report - March, 2016

  • April 2016 •
  • 23 pages •
  • Report ID: 3307094 •
  • Format: PDF
This report covers the key macroeconomic and financial releases as well as the political events from Montenegro for the period of March 6-April 5, 2016.

Montenegro could become a member of Nato in spring next year, according to general Petr Pavel, chairman of the NATO military committee.

Meanwhile, the prime minister Milo Djukanovic said that the country hopes that it will open all chapters in its negotiations for membership of the European Union by the first half of 2017.

The European Parliament has urged Montenegro to set as its top priority the fight against corruption which it says remains serious problem for the country.

Montenegro's ruling Democratic Party of Socialists (DPS), led by prime minister Milo Djukanovic, and several opposition parties resumed the negotiations on the oppositions joining to the government as a key prerequisite for setting conditions for fair elections this autumn.

At the same time, the four biggest opposition parties in Montenegro - Demokratska Crna Gora (DCG), the Democratic Front (DF), DEMOS and United Reform Action (URA) -signed a cooperation agreement ahead of local and general elections this year.

Montenegro plans to invest EUR971.4mn in regional development in 2016 according to the government's 2014-2020 strategy.

Key points:

o The budget deficit shrank 21.9% y/y to EUR34.1mn in the first two months of 2016

o The number of foreign tourists visiting Montenegro increased by 8.0% y/y to 17,741 in February

o Industrial sales plunged by 53.2% y/y in February

o Bank assets went up 11.1% y/y to EUR3.462bn at end-February