Pre-accession Economic Program for 2012-14 Adopted by Montenegro Government

Montenegrin Government adopted the Pre-accession economic program for 2012-14. The goal of this program is to prepare the EU candidates for participating in the EU economic policy coordination procedures and multilateral surveillance.

Montenegro’s goal is to secure the FDI growth, by improving financial and fiscal stability. Montenegro expects growth for 2012 to be between 0.5 and 2 percent; 1.5 – 3.5 percent for 2013, and 3.5 – 4 percent for 2014.

According to the plan, the public expenditure (which is now 43 percent) will be lower by 2014, and it will be 38 percent. The budget surplus will be 1.03 percent of the GDP. Public debt is expected to decline by 2014 and reach 42.9 percent. There is another, less optimistic scenario for 2014, envisioning 1.7 percent public finance deficit, public expenditure reduction to 40.2 percent and public debt of 47. 4 percent.

According to the Finance Ministry, the Pre-accession Economic Program is similar to previous fiscal and economic programs of the Montenegrin Government.

This program is one of the most important instruments for cooperation with the EU Commission. It will also serve as a benchmark for more consistent economic policy.

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