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Montenegro, expectations for this year are encouraging

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Control over inflation, attracting foreign direct investments, meeting the EU requirements and political instability will be the greatest challenges for Montenegrin economy this year, Danijela Jacimovic, a professor at the Faculty of Economy says for the RTCG portal.

According to her, expectations suggest that the inflation will amount to nearly 10% this year. Ms Jacimovic also notes that Montenegro has to keep up with the European course, as it leads to economic prosperity and democratization.

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“Expectations for this year are encouraging. All projections suggest that it’ll be the period of stabilization, as the situation in the US has already been better, and soon will spread to the EU/Eurozone, that is, the region. In 2024, the situation will be even better, and the new “normal” level of the inflation, amounting to 4.1%, will happen,” she envisages.

“Shock after shock” – it’s how, according to her, we can define the economic circumstances in the end of 2022, while decision makers have been facing the greatest challenges. Ever.

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“Maybe the most important global challenges in 2023 are decrease in real revenues followed by the rise in prices, the uncertainty concerning the war in Ukraine, and the ongoing pandemic”.

The professor also notes that there are numerous domestic economic risks. “Maybe some of the most important ones are: inflation control, stimulating the inflow of foreign direct investments and attracting partners from the EU, structural reforms, diversification of the economy and meeting the requirements stemming from the EU agenda, fiscal sustainability and, of course, political instability,”

In addition, some of the 2023 challenges is a deteriorated relation with the EU, which is, as she adds, still the most important foreign-trade priority of Montenegro, CDM wrote.

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