Wage Policy Agreement Laid Groundwork for Economic Progress and Social Stability

After the signing ceremony (December 21, Wednesday), Prime Minister Igor Luksic said that the Wage Policy Agreement was a great achievement for Montenegro.

This agreement is extremely important for social stability in the country. It will lead to better mutual understanding between the trade unions and the Montenegrin Government, and it will improve the living standard of citizens.

Milorad Katnic, Finance Minister, said the Wage Policy Agreement would lead to better planning and efficient allocation of public revenues.

According to Mr. Katnic, the Agreement associates GDP growth with wage growth. If GDP growth exceeds 3.5 %, a salary rise for public sector will be negotiated. If GDP drops by 2% or more, the trade unions and the Montenegrin Government will have to negotiate a cut in salaries.

Mr. Zoran Masonicic (the Trade Union Alliance) said that the signing of the Wage Policy Agreement was another step towards EU membership.

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