Montenegro Country Report - February, 2016

March 17, 2016

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, 2016.
Nato’s secretary general Jens Stoltenberg said that Montenegro should continue making reforms, focusing on corruption and rule of law, in order to join the alliance. Nato launched on February 15 two-day accession talks with Montenegro after inviting the country to join the alliance in early December.
Montenegrin political parties failed to reach an acceptable consensus on the participation of the opposition in the government as the Prime Minister, Milo Djukanovic, refused the requests for more control over the state broadcaster RTCG and the parliamentary leadership. The European Union has called on the political leaders to resume the talks.
Montenegro’s government has decided to introduce property confiscation in cases of unpaid taxes.


Key points:

• The budget deficit shrank 5.9% y/y to 21.3mn in January
• The number of foreign tourists visiting Montenegro increased by 4.3% y/y to 14,701 in January
• Industrial output declined 12.3% y/y in January

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