600 Million Euros Invested in Regional Development

By , 04 Jul 2018, 16:01 PM Business
Miloš Čelanović Miloš Čelanović Dnevne novine

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July 4, 2018 - In order to achieve balanced regional development, Montenegro invested EUR 612.6 million in implementing 539 projects and activities last year, of which 42 percent or more than EUR 256 million were investments from the state budget, stated the Executive director of the Directorate for Development policies in the Ministry of Economy Miloš Čelanović.

At its last session, the Government adopted the Annual Report on the Implementation of the Action Plan for realizing the Regional Development Strategy for Montenegro 2014-2020 for the past year, and Čelanović says that the percentage of realized planned activities is extremely high, according to which there are high expectations in the number of investments even in 2018.

Total planned investments for the last year amounted to EUR 735.8 million, out of which 612.6 million or 83 percent were realized. Most of the funds were invested in the northern region - 330.6 million euros or 54 percent, then in the central (26 percent) and the coastal region (20 percent)," said Čelanović.

He pointed out that out of a total 690 planned projects, programs and activities were realized, and also 58 additional ones.

"As far as the financing structure is concerned, except for the state budget, projects and activities have been financed from credit facilities (32 percent), private capital (17 percent), EU funds (4 percent), local governments’ budgets (3 percent) and donations (2 percent)," Čelanović said.

And this year's activity and investment plan, as he adds, is at the level of last year's.

According to him, the realization of the Regional Development Strategy for 2014-2017 has partially contributed to the achievement of its strategic goal, so a positive growth trend continued in relation to the number of entrepreneurs, micro, small and medium-sized companies and employees in these categories.

In the forthcoming period, it is necessary to consistently implement the structural reforms that will be implemented by the Government and to devote the most to the realization of all planned projects from the Strategy Implementation Plan in 2018.

"The realization of these projects, especially if funds are provided through the capital budget and other sources of funding, must be imperative, as this is a prerequisite for reducing regional differences and improving living standards in the least developed areas of the country," concluded Čelanović.

Text by Dnevne novine, on July 4th, 2018, read more at CdM

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