director - Ministarstvo finansija

Introduction
BULLETIN OF THE MINISTRY OF FINANCE/JANUARY-MARCH 2006
MINISTER OF FINANCE
IGOR LUKŠIĆ, PH.D.
Introduction
CONTACT:
PHONE:
+381 81 242-835,
FAX:
+381 81 224 450
E-MAIL:
mf@mn.yu
WEB:
www.ministarstvo-finansija.vlada.cg.yu
Dear Readers,
An overriding impression throughout
2005 about Montenegrin
economy being out of recession was
definitely confirmed in the first
quarter of 2006. Favourable macroeconomic
indicators achieved over
the last couple of years, convincingly
prove the macroeconomic stability
required for further growth and development.
Favourable trends are likely
to continue in the course of
2006. Significant increase of the tax
revenues as compared to planned
ones, indicates considerable reduction
of grey economy, and more important,
stronger economic activities.
Expectations of excellent tourist
season, positive effects from restructuring
and privatization of the
banking sector, strong inflow of Foreign
Direct Investments etc., speak
in favour of viability and progress
of Montenegrin economic system.
The above also serves as a proof that
a proper economic policy has been
conducted in the previous period.
Finally, the IMF gave its opinion
about this in early February, when
a three-year arrangement was completed,
which, in addition to having
positive effect on image of Montenegro,
led to further write-off of liabilities
to the Paris Club. Following
regulation of Montenegro
membership to the international
financial institutions, creation of a
new program of co-operation with
the IMF is ahead of us, particularly
in the area of further structural reforms.
In addition to standard program
elements, more attention
should be paid on finances of local
self-governments and public finances
in general, including public
companies. Introduction of the II
pension pillar and continuation of
reforms in the health system will be
key reforms in the forthcoming period.
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