10 January 2019 - The Montenegrin economy should achieve a slightly lower rate this year, due to its strong base, following the high of last year's growth, announced the Vice Governor of the Central Bank of Montenegro, Nikola Fabris.

"We forecast that the growth rate of gross domestic product in this year amounts to about 3.5 percent," Fabris said in an interview with the Mina Business Agency.

According to him, sectors that the Central Bank of Montenegro expects to be economic growth holders this year are tourism, energy, and construction, mostly by the continuation of construction of the highway, tourist and energy facilities.

‘’Also, it is realistic to expect a gradual recovery processing industry and an absolute growth of agricultural production in the function of imports substitutions," Fabris concluded.

The Ministry of Finance recently developed an Autumn analysis of macroeconomic trends and structural reforms in cooperation with other relevant institutions. The autumn analysis included economic trends and growth in the first nine months of 2018.

The World Bank and the IMF revised their projections for the countries of the Western Balkans, so the forecast for the western Balkan countries was 3.5%, while for Montenegro, the World Bank revised the projection for 2018 to 3.8% or the whole 1 pp. more than the original estimates.

The projection is that by the end of the year, the public finance deficit will amount to 135.5 million EUR (2.9% of GDP). The budget deficit will be 173.1 million EUR (3.8% of GDP), while the local government will have a surplus of 37 million EUR (0.8% of GDP).

However, the Chamber of Commerce of Montenegro recently stated that the grey economy and unfair competition are great business barriers.

“To overcome those barriers, we need to provide greater flexibility of labor market and enable the employer more space to cancel the contract of employment in case the employee fails to justify the reasons for his employment, reduce labor costs, primarily contributions thereof. That will provide higher employment, reduce the grey economy and create new jobs. It will also increase the minimum wage and consequently, reduce the unfair competition and increase the budget revenues,” pointed out Golubović.

10 January 2019 - According to the annual list of the Henley and Partners Company, Japan still proudly bears the title of the most powerful passport in the world. Montenegro occupied the 45th position which means that Montenegrin people can access 123 destinations without a prior visa.

Second place is taken by Singapore and South Korea, while France and Germany share the third position whereas Denmark, Finland, Italy, Sweden, Luxembourg, and Spain take position number five.

The sixth position is held by Austria, the Netherlands, Norway, Portugal, Switzerland,  United Kingdom, and the USA.

Belgium, Canada, Greece, and Ireland share the seventh position on the list of the most powerful passports. The Czech Republic is in the eight spot and Malta in the ninth. Also, Australia also found its place among the top 10, sharing its position with Iceland and New Zealand.

Boasting cutting-edge expert commentary and historical data spanning 14 years, the Henley Passport Index is the original ranking of all the world’s passports according to the number of destinations their holders can access without a prior visa. The ranking is based on exclusive data from the International Air Transport Association (IATA), which maintains the world’s largest and most accurate database of travel information, and it is enhanced by extensive, ongoing research by the Henley & Partners Research Department.

The Henley Passport Index website provides comprehensive, printable lists of the countries you can access visa-free, with an electronic visa (e-Visa), with a visa on arrival, or with a normal visa. It also allows you to compare the strength of passports and understand how you might improve your travel freedom with alternative citizenship.

When asked about why global mobility matters today, the Henley and Partners Company stated: "As the world economy has become increasingly globalized, the need for greater visa-free access has grown steadily. Across the economic spectrum, individuals want to transcend the constraints imposed on them by their country of origin and access business, financial, career, and lifestyle opportunities on a global scale."

"Wealthy individuals, in particular, are more cosmopolitan and transnational today than ever before, with roots, networks, assets, properties, and even citizenship spanning multiple countries. In many ways, global connectivity has become an indispensable feature of wealth creation and wealth preservation, and its value will only grow as regional volatility and instability increase," as concluded in the report on The Henley Passport Index.

10 January 2019 - “Qualifying for the European Championship represents a result that, for us, is just as good as a medal,” stated the President of the Volleyball Federation of Montenegro Cvetko Pajković in an interview for the News Agency TVCG.

Montenegro's volleyball players will, for the first time, play in a big competition after their recent victory in the sixth round of the Group C qualification for the European Championship against the Moldova team with the result 3-0 (25:18 25:21 25:13).

The 2019 Men's European Volleyball Championship will be the 31st edition of the Men's European Volleyball Championship, organised by Europe's governing volleyball body, the CEV. For the first time the EuroVolley will be held in four different countries; Belgium, France, the Netherlands and Slovenia. The tournament will run from September 13 to September 29, 2019. The number of national teams participating in the event will also be expanded from 16 to 24.

"This is a great result. We all wanted to finish the qualification cycle in this way - to play the last game for qualification at home and win against Moldova to secure our place in the European Championship for the first time," said Pajković.

“To us, the qualifications for the European Championship is a result equal to a medal. The significance of this result is apparent, especially since up to this year the European Volleyball Confederation limited the European Championship to 16 national teams, and our selection was always one step away from qualification," Pajković explained. He said that Montenegrin national team was fortunate that the CEV expanded the number of participants from 16 to 24: "We took advantage of the first chance and the first expanded qualifications. I am sure that our team would secure their place in the Championship even before, had the qualification system been expanded.”

09 January 2019 - Montenegrin tennis player Danka Kovinić reached the second round of the Australian Open qualifiers in Melbourne.

In order to qualify for the second round, Kovinić beat Liu Fangzhou from China 6:1 7:5. It took her one hour and fourteen minutes to reach victory in this match.

The twenty-four-year-old will now have to face Hungarian player Fanny Stollár, who eliminated Zhang Yuxuan 4:6 6:4 6:4.

The women’s singles qualifying for Australian Open runs from Tuesday 8 January – Friday 11 January 2019.

Kovinić currently takes the 174th place on the WTA list of the best players in the world.

Danka Kovinić is a Montenegrin professional tennis player from Herceg Novi and a member of the Montenegrin Fed Cup team. She started playing professionally in 2010. Her first WTA singles tournament was the 2013 Budapest Grand Prix, where Kovinić became the first ever Montenegrin to reach the quarterfinals of a WTA event. On 22 February 2016, she reached her career-high singles ranking of world No. 46, while her best doubles ranking, No. 68, was achieved on 6 June 2016.

Read more information about Kovinić at her Australian Open Official Profile.

08 January 2019 - The completion of the latest Government project of building a ski centre in Kolašin will turn this city into a serious winter destination in Europe. Since the project is complete, Mount Bjelasica now has 250 km of ski slopes!

The new ski resort, Kolašin 1600, will soon host its first guests, and judging by the latest photographs by the Ski Resorts of Montenegro, there will be enough snow for all.

As announced on the Facebook page of the Ski Resorts of Montenegro, the construction workers of this ski resort are putting a great effort for the resort to accommodate its guests without any problems.

The infrastructure of the Kolašin 1600 Ski Centre, with accompanying equipment, will include a total of about 4,6 kilometres of ski slopes, with one six-seater lift installed, reported the representatives of the Government of Montenegro. The contractor for the cableway at the Kolašin 1600 site is the Austrian company - Doppelmayr, the world's leading manufacturer of ropeways, cable cars, and ski lifts. With the completion of works on the 1600 location, Montenegro will get a new ski resort owned by the state. By building the access road, infrastructure and cableway, the state wants to create conditions for attracting investors who will build more accommodation capacities and further develop the ski center.

For the winter season 2018/2019, the complex will include a restaurant with a capacity of 400 seats, ski store for ski equipment rental, and the plans include a ski school with ski instructors.

The state invested 50 million EUR in the Kolašin 1600 Ski Resort project. When commenting on the Kolašin 1600 Project, Prime Minister of Montenegro highlighted: "I believe that Kolašin and Montenegro are getting a new content that will contribute not only to the development of our tourism but also to the entire Montenegrin economy."

07 January 2019 - The General plan for the open sea has been adopted, tuna conditions in Montenegrin waters is good, and the opening of small businesses in the hinterland that would deal with fish processing would bring enormous profits to Montenegro, said Aleksandar Joksimović, head of the Laboratory for ichthyology and marine fisheries at Institute of Marine Biology in Kotor.

"So far, the progress in this area has been achieved in the organization of fishermen and associations, with the help of creation of clusters, and the awareness of fishermen that joint, teamwork can achieve results," said Joksimović.

Fishing the small oily fish, tuna farming, the development of a fish processing factory, as well as the logistics on the coast, can bring the Montenegrin economy the brand as something from the southern Adriatic - high salinity and clean water.

"Economically important species in fishing in the Mediterranean and the Adriatic Sea are hake, red mullet, shrimps, octopuses, but as well as the European pilchard and anchovy. For each of these species, a complete study is already carried out, which resulted in biological and economic limits which state that their fishing is limited to a certain number of tons," Joksimović reminded.

Members of the General Fisheries Commission of the Mediterranean have decided to increase the quota that has been set up in Montenegro to up to 50 tons of oily fish, European pilchard and anchovy. The new quota applies to all other Adriatic countries as well, and it is increased for up to 2.5 tons.

During the mid-December 2018, Montenegrin prosciutto became the new product under protection in Montenegro, as reported by the Ministry of Agriculture and Rural Development.

“Natural environment, climate conditions in the region of production, long tradition of production and a good reputation of this product, that extends over the boundaries of this region form the basis for the protection of this product as a specific and authentic product. The impact of the geographical surroundings, climate and the skillfulness in the application of special recipe, is responsible for the prosciutto that is highly respected among the consumers, especially tourists who visit Montenegro,” said the representatives of the Ministry of Agriculture.

07 January 2019 - Interest in the third phase of the project “1000 +” was huge last year. Organizers from the Ministry of Sustainable Development and Tourism said that they were not able to give vouchers to all the applicants because of the limited budget. Therefore, they started the preparation for the fourth phase.

In the third phase of the project, there were more than 1000 applicants. So far, around 470 vouchers have been issued. Approximately 160 priority persons have been issued with a voucher and 200 citizens who belong to target groups. Then, in December last year, another 110 vouchers have been given to employees in the public sector, young married couples up to 35 and other users.

General Director of the Directorate for Housing Development, Mirko Čanović, says that they have planned the continuation of this project in the budget for this year and they had already started negotiating with the representatives of the Council of Europe Development Bank.

“I am delighted that citizens had trust in this project and recognized its quality. We have planned the fourth phase of it, and our ultimate objective is that the citizens resolve their housing issues simply and favourably. I am sure that in this next phase as well, we will enable the best market conditions,” said Čanović.

They provided a set of conveniences. The key convenience is the lowest interest rate in the market. In comparison to the previous three phases, what is new in the fourth phase is that the participation in the purchase value of the real estate is not mandatory. Also, this time, old-building apartments will be in the offer. Through the cooperation with the private sector, they will tend to provide additional conveniences.

Čanović pointed out that they would give the vouchers until the funds are spent.

Source: Cafe del Montenegro

06 January 2019 - Prime Minister Duško Marković wished a happy Christmas, on behalf of the Government and him, to all Orthodox believers and priesthood, wishing them happiness, mutual respect, and harmony. 

"I want us to find the best in people in the uniqueness of these days and the atmosphere of Christmas warmth. That in the harmony and balance of spiritual and everyday life, we find the strength for mutual respect and harmony. The overall progress of Montenegro assures me that by good intentions, the power of will and forgiveness, we can rise from the temptation of everyday life. Therefore, on this occasion, I express my commitment to dialogue and overcoming the differences that burden us. In this way, we will ensure agreement on the most important issues of Montenegrin society, and additionally, ensure the century-old coexistence that adorns us," Prime Minister Marković’s Christmas greeting letter reads.

President of Montenegro Milo Đukanović also wished a happy Christmas to all Orthodox citizens of Montenegro, with the best wishes to spend the most joyous Christian holiday in peace and love.

"Humanity, compassion, and solidarity are values we inherit for centuries, by which we built a multi-ethnic and multi-confessional fund, according to which our Montenegro is recognizable. The Christmas holidays are celebrated in peace and prosperity, and we are proud of this great achievement, aware of the shared responsibility for contributing to the preservation of coexistence in our country. Christmas reminds us and teaches us that we are closest to each other and that in keeping with this motto, respecting the universal values of Christian teachings, we can easily overcome the many challenges that we are facing in the hard times in which we live.

The day of Christ's birth with its timely messages encourages respect for family tradition, new beginnings and contribution to the further progress of our Montenegro, the respected NATO member country which is on its way to becoming part of the European Union.

With the desire to spend your holiday days in good health, happiness, and joy, I congratulate you once again on the most joyous Christian holiday," concluded Đukanović.

06 January 2019 - The successful year for Montenegro’s tourism industry has had positive effects on business operations of the Public Enterprise for Coastal Zone Management of Montenegro, claimed Predrag Jelušić, director of the company.

“In 2018, we generated over €7.1 million thus exceeding planned revenues, and all these extraordinary results happened thanks to the efficient implementation of a 3-year plan, but also due to the responsible approach of our tenants,” he stressed.

In 2019, he added, expects to have a categorisation of public beaches introduced, as well as more activities concentrated on waste on beaches and new responsibilities referring to the sea/ports transport management. By the Coastal Zone Law and Law on Ports, one of the responsibilities of the Public Enterprise for Coastal Zone Management of Montenegro is to manage coastal zone and local ports of general importance and for public use.

“We required introduction and definition of terms city port and municipal slips. By introducing this, we are to create a regulatory framework and grounds for managing ports and other facilities belonging to maritime infrastructure,” noted Jelušić.

In 2019, one of the most important events in the Montenegrin coast would be opening of the Portonovi resort in Kumbor equipped with marina.

When asked whether the new marinas would impose new obligations for the Public Enterprise for Coastal Zone Management of Montenegro, Jelušić said it is good Montenegro will get three new marinas, especially for the development of nautical tourism.

“In this context, the Public Enterprise for Coastal Zone Management of Montenegro will strive to perform public function beside the commercial one. As an example, I should mention planned construction of the water fountains on Tivat airport,” Jelušić said.

He reminded of the fact Montenegro so far has had only two types of beaches – hotel and public – but in line with the guidelines from the Strategy for sustainable beach management, public beaches are now categorized as romantic ones, for same-day visitors, for active vacays, family beaches, pet-friendly and party beaches, and there will be more public nude beaches.

05 January 2019 - Dynamic economic growth is Montenegrin reality in this and the forthcoming years as well. Opening new jobs remain the government’s first economic priority. The Government of Montenegro has been analyzing different scenarios for increasing minimum incomes, vice-president for the economic policy and agriculture minister, Milutin Simović stated.

“Our economy increased by 4.7% in 2017 and 4.8% in the first half of 2018. The growth rate in the 3^rd quarter rose to 5% thus positioning Montenegro in the 3^rd place compared to the region and the European Union (EU). These results confirmed assessments of the relevant international organizations, such as the IMF, World Bank and credit agencies, which claimed that Montenegro had achieved positive results thanks to the government’s efforts in the process of fiscal harmonization. Fiscal consolidation represented a huge challenge to us, as we did not want to give up on development. It was tough but, we did it,” said Simović.

Such results, he added, have been achieved thanks to a wise and responsible state and economic policy, which was led especially after Montenegro restored its independence, and also based on the achievements in the Euro Atlantic and European integrations.

As for maintaining the economic growth, Simović said there would be many challenges but nothing that Government of Montenegro cannot deal with.

According to him, opening new jobs represents the first priority of the government’s economic policy.

“We have been implementing numerous systematic actions to reach this goal. The number of recruited people in Montenegro has been continuously increasing. In 2018, there were over 25,000 employees more than in 2011, and around 11,000 more when compared to 2016. We expect this trend to continue in 2019. New job opportunities are expected in those sectors in which we invested the most – agriculture and construction, and in all those areas directly or indirectly connected with tourism (in hotels and restaurants, trade, transport and manufacturing output)," concluded Simović.

Recently, the Statistical Office of Montenegro published a report on the unemployment rate, which states that the number of unemployed people in Montenegro reduced by 9.901 persons in 2018.

According to the same data, the unemployment rate was reduced from 22,13% that existed earlier to 17,87%.

“At the same time, survey unemployment rate, according to the Statistical Office of Montenegro (MONSTAT), amounted 14,1 % in the III quarter of 2018, whereas in the III quarter of 2017, it amounted 14,8%. A very encouraging fact is that more than a third of newly employed persons are younger than 30,” said the representatives of the Government.

The lowest unemployment rate is in Kolašin (5,93%), and the highest one is in Plužine (61,28%).

Source: Cafe del Montenegro