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Montenegro and UAE agree on double taxation agreement

Montenegro and UAE agree on double taxation agreement Representatives of Ministries of Finance of Montenegro and the United Arab Emirates on Tuesday, initialed the text of the Treaty on avoidance of double taxation between the two countries, with respect to taxes on income and assets...


Fiscal and Macroeconomic Trends for the First Quarter of 2011

• Pursuant to the data available for 2011 , macroeconomic trends are indicating that Montenegrin economy is in the stage of a slight recovery, representing the continuation of trends from the second half of 2010. Pursuant to the preliminary data of Monstat and the estimates of the Ministry of Finance, it can be concluded with the high probability that the GDP growth in 2010, exceeded the projected 0.5 percent and that the final data will indicate the growth of above 1 percent. This growth rate correction was the result of the strong growth in the sectors of electricity generation, mining and real – estate...


World Customs Organisation: Montenegro successful in meeting standards, building regional cooperation

Montenegro has achieved progress in meeting World Customs Organisation (WCO) standards, in customs system development in general and has established excellent regional cooperation in this area, said WCO Secretary-General Kunio Mikuriya at his meeting with Prime Minister Igor Lukšić...


IMF praises Montenegro’s right track, new cooperation with IMF

At their spring session, the IMF and the World Bank made a favourable assessment of Montenegro’s progress in economic and structural reform, and of its Eurobond issue procedure earlier this month, said Finance Minister Milorad Katnić who attended the session. Minister Katnić also agreed on technical cooperation with IMF, whose mission will come to Montenegro as early as May, said he in an interview to the national TV station RTCG...


Strategy of Public Administration Reform in Montenegro 2011. - 2016. "Aurum"

Public Administration Reform Strategy in Montenegro for the period 2011-2016 is a comprehensive document that provides a framework for reform in this area. It is focused on improving the management and administrative capacity, or the way of policy, organization of public administration, preparation and execution of budget, employment policies, staff training, monitoring and evaluation. The strategy identifies the criteria for joining the EU and harmonized with the obligations deriving from the Stabilization and Association Agreement, which entered into force on 1 May, 2010...


Interview of the Minister of Finance, Milorad Katnić, for Portal Analitika

Interview of the Minister of Finance, Milorad Katnić, for Portal Analitika

Interview of the Minister of Finance, Milorad Katnić, for Portal Analitika...


Press Release: Fiscal Data as of March 2011

As of March 2011, revenues of the Budget of Montenegro amount to EUR 90,73 million, exceeding the plan by 1,35% for the aforementioned month. Revenues increased by 3,1%, compared to March 2010. Although the revenues increased, the upward tax debt continues as a result of the economic illiquidity...


Press release: Montenegro Successful in Bonds Issue Worth 180 million EUR

This is the second bonds issue following a quite successful debut in September last year. Furthermore, this is the first transaction on the European bonds market at the beginning of the year in which a country with the credit rating bellow A is entering the marker, and its success is just a proof of increased credibility in the state, representing at the same time the justification of our estimates referring to the timing of entering into the market...


Announcement: Moody's changes outlook on Montenegro Ba3 rating to stable from negative, affirms rating

Announcement: Moody

Moody's Investors Service has today changed the outlook on Montenegro's Ba3 government bond ratings to stable from negative and has affirmed the rating at its current level. The outlooks on the Baa1 foreign currency bond ceiling and the B1 foreign currency deposit ceiling were also changed to stable from negative...


Interview of the Minister of Finance, Milorad Katnić, for Economist

Interview of the Minister of Finance, Milorad Katnić, for Economist

The role of the IMF changed significantly under the influence of the crisis, which in addition to the changes in the financial capital and voting powers distribution, resulted in launching of a “more resilient“ credit lines. In late September 2010, the IMF had introduced the Precautionary Credit Line (PCL), i.e. the precautionary line. During the IMF and the World Bank annual meetings held last year in Washington, the PCL was presented to Montenegro. However, the formal arrangement with the IMF was not subjected to discussions since our goal was to finance budgetary needs through the Eurobonds issue...