World Bank: 2020 will be a fruitful year for Montenegro. Based on current figures, Montenegro has achieved excellent results in its economy and public finances.
According to news reports from the official website of the Government of Montenegro, in a meeting held with senior World Bank officials, Montenegrin Prime Minister Duško Marković stated:
1. Montenegro has successfully completed its reform agenda, made key progress in economic policy, stabilized public finances, and worked to create better living conditions for all citizens.
2. Over the past three years, Montenegro has achieved remarkable accomplishments. The economy has grown at an impressive rate, public finances have been strengthened and stabilized, and an additional 350 million euros in revenue has been generated, forming the largest capital budget to fund all of Montenegro's infrastructure.
World Bank representative Koen Davidse said that everyone should congratulate Montenegro on its achievements to date and its visionary initiatives taken to address climate change and transition the country toward renewable energy. He added that the relationship between Montenegro and the World Bank is excellent and that cooperation will continue. 2020 will be a fruitful year for Montenegro; based on current figures, Montenegro has achieved excellent results in its economy and public finances.
Source: Official Website of the Government of Montenegro
As one of the faster-growing economies in Europe, Montenegro's economy is generally on an upward trend. According to data released by the Statistical Office of Montenegro (Monstat), the average annual GDP growth rate in Montenegro has been approximately 4% over the last four years since 2015. Furthermore, as one of the few countries that treats tourism as a pillar of its national economy, 2.6 million tourists visited Montenegro in 2019, with official records showing 14.5 million overnight stays and revenue from domestic and international tourists reaching 1.1 billion euros. From the above data, one can see how broad the economic prospects of Montenegro are.
It is worth noting that Montenegro has not only achieved significant results in the economy but has also attained excellent achievements in various fields such as education, healthcare, and social security. Montenegrin Minister of Health Kenan Hrapovic stated publicly that the Montenegrin government has invested 7 million euros over the past three years to renovate facilities and provide a comfortable environment for citizens and employees. At the same time, the Montenegrin government will increase the salaries of medical personnel by 15% over the next two years.
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