05 September 2018 - Finance Minister Darko Radunović and his associates hosted the representatives of the American business and financial services company “Moody's” On September 5th. This regular annual visit of Moody’s representatives, Vice President and Senior Analyst Steffen Dyck and analyst Heiko Peters, is a part of the credit rating process, which represents the estimate of the capability and willingness of the government of one country to service its debt fully and on time.
Presenting the current macroeconomic framework in Montenegro, the Minister briefed the guests on basic fiscal indicators and the results of fiscal consolidation. As he pointed out, the positive trend of the economy's growth since last year was continued this year, and in the first quarter, the recorded data show GDP growth of 4.5%, while the preliminary results for the second quarter indicate approximately the same growth level. Namely, growth was achieved in the sectors of construction, tourism, energy, and industrial production, while total revenues increased by around 11%.
Fiscal consolidation measures are being implemented with the planned dynamics, and a sustainable public debt management system has been established, which defines the suspension of further debt growth after completion of the construction of the highway.
According to the official report on the meeting, the Minister pointed out that the Government remains consistent in preserving the stability of public finances by continuing to invest in priority development sectors and raising the efficiency of public service provision.
Moody's delegation will meet with representatives of all relevant institutions during the visit to Montenegro in order to collect data on the basis of which the country's rating will be audited by that agency.
