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Government improves economic freedoms

Podgorica, (MINA-BUSINESS) – According to Bojana Boskovic of the Ministry of Finance, Montenegro has made progress in the field of economic freedom, which is evident from a steady increase in foreign direct investments.

Commenting of this year’s report on the Economic Freedom of the World published by the Fraser Institute, according to which Montenegro is ranked 83rd of 162 countries, down from the last year’s 72nd place, she said that this result reflects the methodological approach which was not favourable for Montenegro.

“Namely, the Fraser Institute has a negative attitude towards strong investment activities by the state, while Montenegro is a major investor because of the Government’s strategic commitment to improving the overall infrastructure,” Boskovic told Mina-business agency.

Boskovic, who is Director General of the Directorate for Financial System and Improvement of Business Climate at the Ministry of Finance, explained that the Fraser Institute had used the data from 2017, or even older depending on the availability, for this year’s report.

“In the previous two years, Montenegro has made significant progress and carried out reforms in different fields leading to the economic reforms and improved competitiveness,” said Boskovic, adding that the implementation of an action plan for improvement of business climate in different fields was under way.

She said that this year’s lower rating of Montenegro is a result of the ongoing investment cycle and the methodology used by the Fraser Institute.
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