Montenegro’s economy continues to show resilience and growth, supported by key reforms and strategic investments, according to Remon Zakaria, Head of the European Bank for Reconstruction and Development (EBRD) Office in Montenegro.
Speaking at the presentation of the 2024-2025 Transition Report, titled “Navigating Industrial Policies,” Zakaria stated that last year, the EBRD invested €104 million in the country, of which €92 million was allocated to green projects promoting energy efficiency, renewable energy, and decarbonization.
“Our strong partnerships with local partners, donors, and the private sector have been crucial in advancing these efforts. We remain committed to supporting Montenegro’s sustainable development and creating a more competitive and environmentally friendly economy,” Zakaria said.
According to the findings from the Transition Report, Montenegro’s economy continues to grow steadily, with a 3.4% annual growth rate in the first half of the year, supported by consumption and investment growth.
The government has presented its fiscal strategy for the period from 2023 to 2027, focusing on increasing salaries and pensions, tax reforms, and a unified VAT rate for hospitality services. Meanwhile, significant infrastructure projects in energy, railways, and education are progressing.
“Looking ahead, structural fiscal reforms will be critical for maintaining sustainable public finances, including better revenue administration and increased oversight of state-owned enterprises,” the statement said.
Additionally, strengthening measures to prevent money laundering will be essential for managing risks arising from the growing influx of investments in real estate and maintaining financial integrity.
The EBRD is the leading institutional investor in Montenegro, having invested over €939 million in the country through 99 projects.
