Podgorica, (MINA-BUSINESS) – It was concluded at a Subcommittee meeting on the Economic and Financial Affairs and Statistics in Brussels that the Government’s reform efforts aimed at maintaining the stability of public finance and implementing the measures envisaged by the fiscal strategy had produced measurable results.
According to a press release issued by the Government’s General Secretariat, representatives of Montenegrin institutions presented to the European Commission the progress made in the field of macroeconomic stability, public finance, development and reform of the financial system, strengthening of economic competitiveness, statistics, internal financial control of the public sector, and external audit.
They said that Montenegro was making great efforts to create a stimulating business environment, adding that new activities had been initiated in order to achieve that goal, focusing on further improvement of coordination of regulatory activities and responsibility of the regulatory authorities at local level.
“The implementation of infrastructural projects and great investment activities in the field of civil and tourism infrastructure and energy sector have contributed to favourable economic trends, resulting a 4.8 percent economic growth in the first half of this year,” says the press release.
Representatives of the European Commission believe that it is necessary to continue with the activities aimed at fiscal consolidation, particularly those supporting the implementation of the Fiscal Strategy, while increasing the economic growth rate and budget revenues.
It was concluded at the meeting that it was still necessary to carry out the measures focusing on the labour market reform and improvement of the business climate.
This Subcommittee is one of the joint bodies established by the Stabilization and Association Agreement, which convenes on regular basis in order to monitor and analyse the implementation of this document. Longer version of article is available on a link MINA ENGLISH SERVIS
