The Government of Montenegro adopted earlier today the Pre-accession Economic Programme (PEP), a fiscal surveillance procedure, for the period 2012-2014 the Finance Ministry’s Tijana Stankovi told the press following the Cabinet meeting.
The PEP aims at preparing the EU candidate countries for the participation in the multilateral surveillance and economic policy co-ordination procedures currently in place in the EU as part of the Economic and Monetary Union.
The priority goal in the medium-term is to secure conditions for the FDI growth, which can be achieved by upgrading the economy’s credibility on the basis of fiscal and financial stability.
Montenegro’s PEP 2012-2014 expects GDP growth between 0,5-2% in 2012, between 1,5-3,5% in 2013 and between 3,5-4% in 2014. The numbers are generated based on a conservative and cautious approach which is due to the current and previous dynamics in the global economy, the Finance Ministry says.
It is planned that the public expenditure, currently at 43%, will be reduced to 38% by 2014, and a budget surplus of 1,03% of the GDP is expected in 2014, along with the declining trend of public debt, expected to reach the level of 42,9% in 2014.
Source: http://montenegro.blogactiv.eu/