Podgorica – Montenegrin Government has decided that for now they will not ask for the official arrangement with the IMF because they do not need their credits, but the informal consultations about the economic and financial policy have been continued it was said yesterday from IMF.
Official mission of that international organization, as it was announced, will come in the fall in order to estimate the condition of Montenegrin economy. The representatives of IMF and of Montenegrin Government, central bank, and other institutions have negotiated in previous few weeks about the planned two – year arrangement that would define the goals ad measures of economic and financial policy, but recently Government has decided that they do not want to make that agreement. Unofficially, in the Government they say that the reasons for that are the needs of Montenegro for great investments, as well as for better salaries in public sector.
IMF is an institutions which is more interested in macro economic indicators such as the level of debts of the state, and one of their most frequent recommendation to all Governments with which it cooperates is limitation of the public spending, in which they count in the salaries of employees.
In the yesterday’s announcement of IMF it is said that Montenegrin economy advances well thanks to the great interest of foreign investors, but it suggest the need to preserve the sustainability of the current condition.
– Main challenge is management of the consequential boom as well as promotion of developing perspectives of private sector with which the sustainability of the current ascent would be improved – it is said in the announcement.
From IMF they greeted the determination of the Government in, as they say, creation of the new, transparent economy, and favorable surrounding with low tax fees and minimal state interventions.
– That will lead to speeding up of the process of transition, especially creating products and work force – it is said in the announcement.
In IMF they think that with acceptance of euro great responsibility fell on fiscal policy in management of the current economic boom.
– With the rationalization of the current spending, strengthening of the program of capital investment the government will reduce the public debt. With that they will strengthen the thrust of investors and the capability of fiscal policy in the fight against economic distressed allowing temporary deficits – they think in IMF.