Business
23 December 2018 - The Ministry of Defence plans to spend 215 million EUR for procurement of equipment by 2028, while the investments will increase by 82% and in 2028 will amount to 145 million EUR, suggests the Defence long-term Development Plan 2019-2028.
Moreover, the infrastructural projects will require around 30 million EUR, while during the period from 2019 to 2024, the defence expenditures are projected at 1.73% in 2020, i.e. 2% in 2024.
“Based on the current estimations of GDP growth, it’s planned to gradually increase the volume of funds for defence purposes, which means the defence spending by 2024 will amount to around 40 million EUR,” the Plan reveals.
The Ministry plans to keep the level of investments at 2% for the period 2024-2028.
Ministry recently considered getting 30 million EUR credit loan for buying 67 armored vehicles.
Also, during the September 2018, Armed Forces of Montenegro bought two new Bell 412 EP/EPI multi-purpose helicopters. Bell 412 EP/EPI multi-purpose four-wheeled helicopters are designed for the transport of passengers, injured and sick people, search and rescue, cargo transfer, fire extinguishing, and border control. The capacity of the delivered version is 13 seats.
As far as the missions in which Montenegrin soldiers take part, the budget predicted 2.294.456 EUR for the fees in the missions and the payments fort he field work, accommodation in camps and barracks as well as for the engagement of soldiers in recovering consequences caused by natural disasters.
23 December 2018 - Delta City Podgorica is the first big shopping mall in Montenegro, which, like a small town, has the most diverse stores, as well as various entertainment contents in which all guests can enjoy all day. This shopping centre has become a favourite meeting place of many locals but also citizens from other parts of Montenegro. A large number of shops, a multiplex cinema, a large children's playroom, cafes and restaurants - together make shopping, dining and socializing a real, top-notch entertainment.
Delta City Mall Podgorica marked the first decade of work this year, and on that occasion, the representatives of the company shared some interesting information about their business:
- Delta City occupies an area of 24.000 square metres, which is the size of 3 soccer fields, and if we add the parcel on which it is located, then that figure is almost doubled and amounts to 46.000 square metres.
- On opening day, on October 1, 2008, 44.000 people visited the mall.
- The shopping mall annually hosts between 4.000.000 and 5.000.000 guests, and for ten years of existence, the total number of visitors has exceeded the figure of 40.000.000, which is equal to the number of inhabitants of the state of Iraq.
- During 2018, Delta City has hosted over 90 different events, and in 10 years, the number of manifestations in this facility exceeded 800. A third of the total events had the character of social responsibility.
- The crown of annual work of the mall, when it comes to socially responsible business aspect, is definitely the Great Christmas Bazaar, organized in cooperation with the International Women's Club (IWCM) and all the Embassies in Montenegro, where over 3.000 EUR is collected every year for the needs of children health institutions.
- In the category "Real estate management - by income" for 2017, the shopping mall Delta City occupies 1st place.
The Shopping Mall Delta City today has 80 tenants, of which half are made up of international brands such as Zara, Bershka, Stradivarius, Cineplexx, Cortefiel, Pull & Bear, Oysho, Intimissimi, Tommy Hilfiger, Guess, New Yorker, Mango, Antony Morato, OVS Industry, Cortefiel and many others.
In 2016, shopping mall Delta City became part of the Hyprop Investments group. Hyprop Investments is the largest African fund investing in shopping malls and a Shopping Mall Delta City in Podgorica is managed by a newly established Hystead Limited based company in London.
December 23, 2018 - We are not among those who easily make promises that we cannot fulfill, and I think that the people of Zabljak recognize it. We try not to make everything we promised an ordinary populist story, but a realistic, feasible development plan. The best proof is the numerous construction sites in the municipality and realized projects, says Veselin Vukićević, President of the Municipality of Zabljak, who is very optimistic about the new 2019."The city has surpassed the national frames in the interest of tourists! During the summer, all hotels had an exceptional booking so that about 60,000 tourists visited Zabljak until October, who made 130,000 overnight stays. With the development of various types of active tourism, such as biking, hiking, mountaineering, kayaking, rafting and more, Žabljak is becoming an increasingly popular summer tourist destination. Tourism is a specific branch of the economy, for the simple reason that you must always be attractive and innovative. Simply, "past work" in this activity does not exist," Vukićević said to Vecernje Novosti. He adds that with the start of the winter season, they expect the number of guests to increase.
"To be competitive, we invest significantly in the infrastructure, which we do, together with the state's support. Almost 1.5 kilometers to Savin Kuk is almost completed, and a parking space for daily skiers is also available. The contractor for the purchase of a six-seater cableway and the construction of four kilometers of new ski tracks was chosen, worth about nine million euros, financed by the Government of Montenegro. For the next year, reconstruction of the access road in the length of five kilometers is announced, construction of cannons for snow and the design of new tracks in the length of 20 kilometers is underway. We expect that through these projects we will succeed in bringing Zabljak back with the epithet of the regional winter center, "says Vukićević.
"This summer, tourists had at their disposal ten hotels, one boarding house and 1,300 beds in private accommodation. New hotel-tourist facilities will contribute to enriching the tourist offer. Therefore, three private hotels are now being constructed. This season started with work a long-awaited restaurant on Crno jezero," he says.
He proudly points out that Montenegro has managed to bring the world-famous tourist brand "Aman", which begins to build a 5 + star hotel, at the site of the former hotel "Durmitor". "The value of this investment exceeds 20 million euros. Soon we expect the signing of a lease agreement for the military-tourist resort "Mediteran" with the renowned brand "Chedi".
Regarding the reconstruction of the hotel "Jezero", he adds that the construction of a tourist complex with bungalows is planned in this area, estimated at seven million euros.
Text by Novosti, on December 22nd, 2018, read more at CdM
21 December 2018 - Starting from 1 January 2019, the excise duties on fine-cut smoking tobacco will increase from 30 to 35 EUR per kilogram, on ethyl alcohol from 1.050 to 1.250 EUR per hectolitre and on carbonated drinks from 20 to 25 EUR per hectolitre, the Ministry of Finance reported. This means the price of these products would increase, but there is still no information on how much.
The Ministry of Finance reminded of the excise tax calendar which entered into force as of August 2018, when the excise tax on the fine-cut smoking tobacco decreased from 54 to 30 EUR per kilogram (this price is valid from 1 September to 31 December 2018).
From 1 January to the end of 2019, the excise tax on fine-cut smoking tobacco will be 35 EUR per kilogram, from 1 January to 31 December 2020 – 40 EUR, in 2021 – 45 EUR, while in 2022 it will amount to 50 EUR per kilogram.
The Ministry also stated that so far it has generated 37.6 million EUR from excise taxes on tobacco product, which is by 26.6% or 13.6 million EUR higher compared to the same period last year.
Nevertheless, the import of fine-cut smoking tobacco in the country has not increased even though many people started using it.
Similarly, excise on coal will increase the selling price of it, from 1,4 to 2,2 EUR per ton. Representatives of the Electric Power Company of Montenegro said that coal price had an impact on the production price of electricity produced in the thermal power plant.
However, Electric Power Company of Montenegro decided last week that they would not change the prices of electricity. New regulation stipulates that the electricity price for distributive consumers be formed by the market price from the reference energy stock in Budapest, with specific limitations. Production of electricity in Montenegro has minimum impact on that stock, and thus minor disturbances, like excise on coal, can not seriously affect the stock in Budapest, which is a referent for electricity prices in Montenegro.
Starting from 1st January, 15 cents excise on coal will be levied. Starting from 1st January of 2020, it will double (30 cents per gigajoule of gross heat value). Representatives of Coal Mine said that they would introduce special season discounts for the households, and they would be higher than the excise. Coal price is one of several parameters which have an impact on electricity price.
“At this moment, we don’t know whether the excise will have an impact on electricity prices”, said the representatives of the Coal Mine.
Excise on coal is related to the calorific value of coal, and it will have an impact on an increase of operating costs of the Coal Mine.
Source: Cafe del Montenegro
20 December 2018 - In summer 2019, Montenegro Airlines is adding new service to Germany, with the scheduling of Tivat - Hannover route. From May 2, 2019, Fokker 100 aircraft will serve this route twice a week.
The representatives of the company Montenegro Airlines have announced that in the forthcoming so-called "IATA Summer Season” (International Air Transport Association Summer Season), which starts on the last Sunday of March and ends on the last Saturday of October, they will introduce yet another new destination from Tivat Airport. They revealed that they had secured a route to and from the German city of Hannover. Montenegro Airlines’ aircraft will take passengers from Germany to explore the delights of Montenegro from May 2, 2019, and this aircraft will ride weekly, on Thursdays and Sundays. The departure time from Hannover to Tivat, which is already determined, is 09:16, while the arrival time is 11:30. Fokker will take passengers from Montenegro to Germany also on Thursdays and Sundays, with the departure time 06:30 and the arrival time 08:35.
Flights will run with the 102-seat Fokker 100 aircraft. During the 2018 summer season, Montenegro Airlines launched seasonal operations from Tivat to Munich, Leipzig, and Copenhagen. However, services to Copenhagen are not scheduled to resume next year, while flights to both Munich and Leipzig will increase to three flights a week for both destinations.
Montenegro Airlines is the flag carrier of Montenegro that operates scheduled and charter services throughout Europe from its hub at Podgorica Airport with a second base maintained at Tivat Airport. The company’s aircraft are recognizable by their high-quality performances, superior ergonomics, and outstanding effectiveness and efficiency. With the acquisition of modern aircraft, they offer the most pleasant and comfortable flights to their passengers. Montenegro Airlines has a reputation for a safe and reliable company that continues to grow in every aspect.
Details for the new Tivat - Hannover service can be found at EX-YU Aviation Website.
20 December 2018 - The Ministry of Finance 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 environment is characterised by a moderate and less balanced growth of the world economy," said Iva Vuković, Director General for Economic and Development Policy at the Ministry of Finance, adding that these trends are significantly influenced by rising geopolitical tensions, trade restrictions between the USA and China, and the rise in crude oil prices on the world market.
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 Workl Bank revised the projection for 2018 to 3.8%, or the whole 1 pp. more than the original estimates.
Director General Iva Vuković said that in 2017 the level of investments was worth 1.1 billion EUR, and that according to the latest government projections, this level of investment should be close to 1.5 billion EUR at the end of this year and that the achieved results of economic growth were also contributed by excellent tourism revenues, which grew by 8.3% in the first nine months, thus reaching the level of tourism income realised during the whole year of 2017; tourism revenues in 2018 are projected to exceed 1 billion EUR.
"I would also stress industrial production's growth of 24% and a significant increase in electricity based on favourable hydrological conditions and new capacities", she pointed out.
Positive trends in economic teems also reflected the movement of indicators in the labour market and the latest available data for 9 months indicate that the labour activity rate has risen to 57.6%.
Employment grew at a rate of 3.1%, while the unemployment rate was further reduced to 14.1%.
"The current account deficit has grown by 32% and is a consequence of foreign trade deficit and reduced surplus of primary incomes. The trade deficit amounted to 1.5 billion EUR, while we had a surplus of services that grew by 11.2%. Net exports are negative, but we expect a strong impact on tourism and metal exports to reduce the negative contribution of net exports to real GDP growth. According to government projections, the current account deficit will amount to 18.1% of GDP at the end of this year, which is 2$ more than in 2017," Director General Vuković said.
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).
Public debt at the end of 2018 will amount to 3.2 billion EUR, or 70.9% of GDP, while the state debt will total 3.1 billion EUR, or 68% of GDP.
"Priorities in the coming period remain the dynamisation of economic growth and the strengthening of the competitiveness of the economy, the continuation of the implementation of projects in all areas, implementation of measures from the fiscal strategy in order to maintain the stability of public finance and further implementation of measures and policies with the aim of attracting investment and job creation and growth earnings in the private sector," Vuković concluded.
20 December 2018 - The Cabinet within the Government of Montenegro passed the Decision on the Borrowings of Montenegro for 2019. This decision defines which loan arrangements will be concluded during 2019, with which financial institutions and in what amount, as well as which projects these funds are intended. The Decision also sets out for which loan arrangements the State can issue guarantees.
"The Decision also allows the possibility of the Government's borrowings to finance the budget amounting to EUR 370 million, of which EUR 190 million will be needed to finance budgetary needs, capital budget and debt repayment, while EUR 180 million are intended for funding the section of the Bar - Boljare motorway," General Director of the State Treasury Directorate Dragan Darmanović told a press conference following the Cabinet session, adding that the Decision stipulates that in 2019 the Government can also make loan arrangements for debt refinancing purposes in the amount of 250 million euros, a project to be provided through of the World Bank's guarantee. Also, there is a possibility of borrowings for the needs of implementation of the project of construction of the Smokovac - Mateševo section of the Bar-Boljare motorway.
Furthermore, the Decision provides for that during the year the State may borrow for the needs of the liquidity of the budget, and it is obliged to repay these funds by the end of the current year.
All these responsibilities are in line with the annual Budget Law for 2019, and the borrowings procedure will be implemented by the Government of Montenegro on the proposal of the Ministry of Finance.
During the very beginning of December, the Government of Montenegro presented Draft Budget for 2019.
"The Government of Montenegro does not envisage any additional measures of fiscal consolidation other than those established in 2017, but next year we will focus on improving tax environment, further economic growth and employment increase," Minister of Finance Darko Radunović said introducing the 2019 Draft Budget Law, which was adopted last night by the Government.
19 December 2018 - At its 4th session, chaired by the President of the Council, Prime Minister Duško Marković, the Council for Competitiveness reviewed and adopted the Report on the Implementation of Montenegro Economic Reform Programme for 2018 and the Draft Montenegro Economic Reform Programme for 2019-2021.
Key Montenegro's documents in economic dialogue with the European Union and the key strategic documents for medium-term macroeconomic and fiscal programming read that in the past year, 19 of the 20 priority reform measures have been implemented in line with the foreseen deadlines and the planned budgets, and that Montenegro achieved excellent economic growth in the first two quarters. Available indicators for the third quarter show that the economic growth trend continues, last year's report states.
The document dealing with the past year lists the economic activities that resulted in excellent performance and the fact that due to the increased demand for labour and as a result of incentives for self-employment and the Government's active employment policy, the employment rate has significantly increased.
The Draft Montenegro Economic Reform Programme for the period 2019-2021 contains the agenda of structural reforms important for reducing or eliminating obstacles to economic growth and strengthening the overall competitiveness of the country and estimating economic growth for the following years: 2.8% in 2019 ; 2.3% in 2020 and 2.4% in 2021.
The discussion on these two agenda items pointed out that the conservative approach of the Ministry of Finance in the projection of economic growth includes all the risks and deficits in Montenegro's public finances, but that the Government's goal is far higher economic growth than projected as it was in the past two years. The Prime Minister stressed that he does not question the Ministry of Finance's projections that include all aspects and risks, but that the projected values of economic growth are not and cannot be the goal of the Government. "We are here to eliminate these risks and enable the continuation of high growth. This will be our agenda in 2019," Prime Minister Duško Marković said.
The Competitiveness Council reviewed the positioning of Montenegro in the World Bank's Doing Business Report for2 019, the Analysis of the fall in the ranking by indicators in the Doing Business Report 2019 and the Initiative of the Law Office Jovović, Mugoša and Vuković for amending legislation in the field of registration of economic entities and keeping public registers in the economy.
All ministries, the Real Estate Directorate, the Pension and Disability Insurance Fund, the Customs Administration, the Inspection Directorate and the Department of Public Revenues were tasked, and the Notary Chamber was recommended, to pay special attention to the implementation of the reforms previously recognised by the Action Plan for the improvement of business environment in 2019.
The Ministry of Finance was tasked, in cooperation with the Chamber of Commerce of Montenegro, to undertake activities to improve the reporting and data collection process for the Doing Business Report, through communication with contributors.
The Competitiveness Council reviewed the texts of the prepared laws on local communal taxes and administrative fees, as well as brief information on the status of the Law on Public-Private Partnership.
The discussion emphasised that both the Government and the economy share the approach that significant differences between Montenegrin municipalities in taxi policies discourage small and medium-sized businesses and that new revenues should not be based on taxes, but they must generate development and create new value.
The Ministry of Finance was tasked with undertaking further activities for the purpose of developing the law by the Government.
The Council was informed about the Report on parafiscalities at the local level - the municipalities of Budva, Bijelo Polje and Danilovgrad, created by the Union of Employers of Montenegro with the support of the International Labour Organisation.
The session reviewed the comments and suggestions made by the Union of Employers of Montenegro on the Draft Law on Fiscalisation in the sale of goods and services concerning the technical solutions of the online fiscalisation of bank accounts and cash transactions, as well as the keeping of tax registers, The Council recommended to the Ministry of Finance to consider the proposals in the process of developing the Draft Law.
The Competitiveness Council, considering the conclusions from the previous two sessions, noted that representatives of the economy were not included in the drafting of certain legal solutions. Ministries were tasked with drafting quarterly reports to the Competitiveness Council on the inclusion and consultation of business representatives in the development of laws that have an impact on the business environment.
December 20, 2018 - Within the program of celebrating the Liberation Day of Podgorica, the Mayor of Podgorica Ivan Vuković and the President of the Union of Employers of Montenegro (UPCG) Svetlana Vuksanović officially opened the Competence Center Podgorica. The establishment of the Center is one of the activities of the cross-border project "competenceNET", whose partner in Montenegro is UPCG, and is implemented within INTERREG IPA CBC Croatia - Bosnia and Herzegovina - Montenegro 2014-2020 program.
"This is a nice way to celebrate our holiday and I am very pleased that in a relatively short time, together with our friends and partners from the Union of Employers, we managed to open this kind of facility in the center of the city, which will serve for courses, training, and seminar organization, all in order to alleviate the consequences of a serious problem that we still face, which is the problem of insufficient employment in the Capital. Above all, among the young people, then women, members of the Roma population, and so on. In this way the capital shows a very responsible attitude towards this issue and demonstrates its willingness to address the improvement of living conditions in Podgorica continuously," said the mayor of Podgorica at the opening ceremony of the Competence Center Podgorica. UPCG President Svetlana Vuksanovic in her speech, expressed gratitude to the mayor of Podgorica for cooperation and support of the Capital for the activities of UPCG on the establishment of the Center.
"The Fourth Industrial Revolution creates new frameworks that seek to adapt quickly and join the global market. The Competence Center Podgorica is an example of the activity that UPCG responds to the challenges of this kind, which is confirmed by the valuable equipment provided within the competenceNET project, which includes, among other things: a digital camera, twenty desktop computers, five 3D printers, a smart board. I believe that the time before us will confirm the effects of such an investment, and thus the contribution of project partners from Montenegro, Bosnia and Herzegovina and Croatia to the processes of creating a business environment that stimulates the entrepreneurial climate, helps the development of sustainable enterprises, the competitiveness and economic progress of our and countries in the region," Vuksanovic said.
Today, the Competence Center Podgorica will support the development of micro, small and medium-sized enterprises (MSMEs) through activities involving the organization of training and mentoring programs for MSMEs and unemployed young people in the field of business competence development, as well as the introduction of new technologies and innovative solutions to business (through smart collaboration programs). In this way, the Center will, as they emphasize, help to strengthen entrepreneurship of both small and medium businesses and encourage young people to approach the development of business ideas creatively.
"One of the advantages of cooperation between the partners of the cross-border region is that the Competence Center Podgorica will share its services with centers that were previously established in Bosnia and Herzegovina and Croatia, also within the competenceNET project. This means that the users of Podgorica Center will have the opportunity, through the webinar and the mobile application, to access additional, specialized services offered by other project centers. With the opportunity to develop specific knowledge and skills, this will enable the MMSP from Podgorica and the countries of the region to connect more strongly and thus begin future business cooperation," they said.
The work of the Competence Center Podgorica is based on the cooperation of the private, public and scientific research sector, which is a framework that will be further developed in Montenegro in the future and in other countries of the EU-funded cross-border project "competenceNET".
"The project" competenceNET "- "Improving the transnational business environment through the development of centers for the business competencies and networks "is implemented by the Development Agency Žepče (RAŽ) from Bosnia and Herzegovina, as the leading partner with the partners of the Union of Employers of Montenegro (UPCG) and the municipalities of Stari Jankovci and Tovarnik from Croatia. The duration of the project is 30 months, and the total budget is 670,619.24 EUR, out of which the EU finances 85, and 15 percent is co-financed by project partners.
The aim of the project is to improve sustainable economic development in Zenica-Doboj Canton (BiH), Vukovar-Srijem County (HR) and Podgorica, using innovative models and approaches in strengthening the competitiveness of SMEs.
Text by CdM, on December 19th, 2018, read more at CdM
19 December 2018 - Minister of Science Sanja Damjanović paid an official visit to Slovenia, where she met with newly elected Minister of Education, Science and Sports Jernej Pikalo for talks on the regional project of setting up the South-East Europe International Institute for Sustainable Technologies (SEEIIST).
Minister Damjanović stressed the significance of the SEEIIST project as one of the most prominent examples of "Science for Society" projects because of its medical application regarding using the most modern method in treating a wide range of cancer. She also highlighted its scientific dimension, pointing out that this project would be unique in the world precisely because 50% of the time would be devoted to biomedicine research. It is a development project that would enable the involvement of the economic sector, as the goal is to involve enterprises from the region in the construction of this modern technology, which would encourage technological transfer. As the project is now entering an active phase, active involvement of partners is needed, with Slovenia being one of the first countries to support the project. The first next step in this regard is the establishment of a joint body, which would apply for additional resources to finalise the "Design Study Phase."
Minister Pikalo agreed that such a project is needed for the region of Southeast Europe, but also for Europe in general, especially emphasising that within the Horizon Europe, the next EU Framework Program for Research and Innovation, within the second pillar "Collaborative Projects," "children's cancer" is on the list of missions' funding, so that the topic is currently in the context of the use of funds from this programme.
The two officials commended the excellent bilateral scientific and technological cooperation between the two ministries. They also voiced a willingness to reach an agreement on the future steps towards the SEEIIST project, which is of paramount importance for the implementation of the "Preparatory Phase."
During the mid-September, the SEEIIST Project was introduced in Montenegro. On this occasion, minister Damjanović concluded that the SEE region needs a major scientific research infrastructure that would trigger scientific excellence, prevent the outflow of talents, and stimulate innovation, mobility, internationalisation, and transfer of knowledge, as well as other complementary technologies. All of these necessities are methods of improving socio-economic conditions and enabling an attractive environment for young people, in which they want to work and create within their own country. This project, added Minister Damjanović, although fifth in Europe, will be unique in the world because it predicts that 50% of the project timeline will be spent on research, which will attract researchers from Western Europe.
19 December 2018 - Prime Minister Duško Marković and President of the Montenegrin Academy of Sciences and Arts Dragan K. Vukčević held an official meeting and noted that the history and culture of the country are the values that have been confirmed, and that development, civic harmony, and dialogue create the identity of contemporary Montenegro, which should be consolidated and promoted by all social stakeholders.
"Montenegro is not a state of nations but a state of citizens. In such a state, any kind of nationalism is dangerous and unacceptable. The basic question is whether we have the answers citizens expect from us or whether we will maintain the status quo and seek for patriots and enemies," said Prime Minister Duško Marković. He added that social dialogue is considered possible and desirable on every topic, except on the topic of the State of Montenegro. "The State is the only topic that cannot be the subject of any dialogue," Prime Minister Marković stressed.
President of the Montenegrin Academy of Sciences and Arts Vukčević noted that the goal of the synchronised action of all relevant segments of society should be Montenegro, which we aspire in the future.
"Europe will recognise our values depending on the efforts we are willing to make to attain that goal," said Academician Vukčević.
Prime Minister Marković stated that insufficient development is the key deficits in both Montenegro and the region, and that is why the Government from the beginning of its mandate has insisted on development policies and projects, primarily in the northern region, as the least developed one.
"That is why I started projects to make the best use of our undeniable economic resources," said the Prime Minister, adding that such a policy has already been recognised and appreciated beyond the borders of Montenegro. Therefore, the Prime Minister continued, the overall development is a task not only for the Government but for all responsible social stakeholders. We will work together with the Academy to achieve the goals that are significant for the future of Montenegro," PM Marković concluded.
Remax Property of the Week
Editorial
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07 Mar 2018, 08:08 AMWelcome to Total Montenegro News!
Interview of the week
- 09 Nov 2020, 20:21 PM
Ranka Vukasovic Botica on Montenegro as a Maritime Country
