December 21, 2019 - The Gross domestic product (GDP) amounted to €1.63 million in the 3rd quarter of the year, according to preliminary data of MONSTAT. Head of this state body, Ms Gordana Radojević, noted that the GDP real growth rate amounted to 4.7 per cent in the 3rd quarter of 2019.

“In the absolute value, we have achieved an added value by more than €100 million compared to the same quarter last year. Positive movements in GDP in the third quarter are the result of increased production in almost all economic sectors,” Ms Radojevic told the press.

She added that the highest growth in the 3rd quarter was recorded in the construction sector.

“We’ve recorded a 31.4% growth by measuring the value of completed construction works.”

Enormous contribution to the GDP growth in the 3rd quarter has come from tourism, Ms Radojević concluded.

Text by CDM read more here. 

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December 18, 2019 - Kotor mayor, Mr Željko Aprcović, director of the Direction for Organization and Construction of Kotor, Mr Zoran Mrdak, and executive director of the company Bigova Bay, Ms Branka Lazarević, met in Kotor to sign the agreement on the implementation of an investment – the construction of a high-end tourism complex in Bigova.

The agreement announces the beginning of the implementation of an investment whose initiation started 7 years ago.

“The local self-government is proud to have a renowned investor in this business who will invest large sums of money – over 300 million euro – and today is a big day for the Municipality of Kotor,” said the Mayor of Kotor.

The aim of this project is to obtain the new content that will raise the sites in Donji Grbalj to a higher level.

Mr Aprcović said: ”This investment will represent the initial impetus for future investors in this extremely attractive site.”

Kotor Municipal Assembly, at its session held on 18 Nov. 2019, passed the decision on resolving relations between the Municipality of Kotor and Bigova Bay and the agreement signed today represents an integral part of it.

Text by CDM, read more here.

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Works began on the construction of a roundabout at the former Tivat Municipality building, which was inaugurated by Prime Minister Dusko Markovic.

Due to the commencement of works, parts of Luka Tomanovic street and the Second Dalmatinska Brigade were closed to traffic, and the usual mode of movement of the vehicles through the center of Tivat was changed.

However, the citizens of Tivat have not been officially informed about this by the Municipality, which is the investor of the EUR 300,000 project, which allows for an entrance to the city center.

Text by S.Lukovic, on December 16th, 2019, read more at Boka News

Montenegrin Airports recorded 200,000 more passengers than in the same period last year, which is an excellent business result, said Danilo Orlandic, CEO of the company.

"Better job organization, investment in infrastructure and equipping the airport, as well as better cooperation with representatives of the tourism industry, have made it possible to achieve such good results," Orlandic said in a statement.

The airport in Tivat served more than 1.3 million passengers in the first 11 months, while more than 1.2 million passengers traveled through Podgorica airport.

"The increase in the number of passengers, among other things, is due to the fact that, with the help of the Government, Montenegrin Airports, from year to year, conclude an increasing number of contracts with prestigious airlines from all over the world," the statement said.

Orlandic said the company is constantly working to connect Montenegro with destinations across Europe.

"We believe that next year will be even more successful," concluded Orlandic.

Text by Boka News, on December 8th, 2019, read more at Boka News

The beginning of works on the first of three roundabouts on the route of the future main boulevard on the Adriatic highway through Tivat will be marked on Thursday, December 5, at 10.30 am in the settlement Kukuljina, at the exit from the city towards the airport.

On that occasion, the roundabout will be visited by the Mayor of Tivat, Dr Siniša Kusovac, with his associates, and Radenko Čvorović, the executive director of the company „Mehanizacija i programat“, i.e. the main contractor.

The contracted value of the works is 535,000 euros and the deadline for completion is 65 days from the date of commencement.

The roundabout - the intersection on the Adriatic highway in the center of Tivat, near the old Tivat Municipality building will be realized by the company “Vukotic Trade” from Podgorica, for EUR 306 thousand, and the procedure for the implementation of the third roundabout at the building “Dom vojske” is under preparation.

The planning documents previously envisaged two roundabouts, but a third roundabout was included during the project implementation and considering all the facts - traffic flow, local and transit population requirements.

With the construction of roundabouts, the Municipality of Tivat has started the implementation of a demanding project for the construction of the main boulevard, which will improve traffic efficiency and provide better connectivity to suburban settlements.

The main feature of the future boulevard is the width of the corridor of 19 meters with two traffic lanes per direction and the dividing island. According to the terms of reference, five phases of the project are foreseen, namely the construction of three roundabouts and an open lane connecting these roundabouts.

Text by Boka News, on December 4th, 2019, read more at Boka News

The first oil well exploration in the Montenegrin submarine will be established in the spring between Bar and Ulcinj, about 26 kilometers offshore, the Ministry of Economy confirmed.

By the end of next year, it will also be known whether Montenegro has significant amounts of oil for commercial use, “Vijesti” writes.

Montenegro has granted concessions to foreign companies to seek oil.

The ministry recalled that, in accordance with the obligations under the concession contract for the exploration and production of hydrocarbons, Eni-Novatek dealers completed 3D geophysical surveys of the Montenegrin submarine on blocks four, five, nine and ten in November and December last year.

"The processing of the collected data is being executed in stages, it is still underway and it is expected that it will be completed by the end of the year," the Ministry of Economy said.

Text by Boka News, on November 30th, 2019, read more at Boka News

November 26, 2019 - A consortium of the German WPD AG company and Vjetroelektrana Budva [in English: Budva Wind Farm] is the only bidder that met all the requirements for the construction of the Wind Farm Brajići on state-owned land in the municipalities of Budva and Bar, suggests the Decision on the shortlist of bidders.

The document drew up by the Ministry of Economy says the German-Montenegrin consortium was the only bidder which made a bid in a timely manner and offered an investment of  EUR 101,3 million for the construction of a wind farm.

The bid encompasses the construction of a wind farm with the potential of producing 100,8 MW, while the consortium also offered to pay €2,50 per square meter for the lease of state-owned land.

The bid also envisages the participation of national companies in the amount of €21,6 million and the construction of a new wind power plant at an area of 235,462 square meters.

Text by CDM on November 26, 2019, read more here.

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According to Monstat, the minimum consumer basket in October amounted to EUR 645.1, which is 0.4 percent more than in September.

"Out of the total value of the minimum consumer basket, expenditures for food and non-alcoholic beverages amounted to EUR 269.2, which is 0.4 percent less than in September," the statement said.

Statisticians said expenditures for non-food products and services amounted to 375.9 euros, which is one percent more than in September.

The minimum consumer basket refers to household consumption, which includes food and non-food products and services, which enables the maintenance of life and working ability of household members.

The minimum consumer basket complies with the minimum recommendations of the World Health Organization (WHO) and the USDA Food Guide 2010 for a minimum caloric intake of 2.21 thousand calories per person per day.

“The value of the minimum consumer basket is based on data from the Household Budget Survey and the World Bank (WB) recommendations. The value of a minimum consumer basket for a four-person household is the minimum monthly expenditure related to food and non-alcoholic beverages and non-food products and services," said Monstat.

For the calculation of minimum expenditure relating to food and non-alcoholic beverages, average prices for the current month and monthly quantities in kilograms for a four-member household are used.

Consumer price indices (CPIs) are used to calculate the value of a basket of non-food products and services.

Text by MINA Business, on November 20th, 2019, read more at Vijesti