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NewsMontenegro, forecasts for this year are optimistic, but with a dose of...

Montenegro, forecasts for this year are optimistic, but with a dose of caution, the Minister of Economic Development and Tourism said

In an interview for CdM, the Minister of Economic Development and Tourism, Goran Djurovic, has discussed several topics.

When talking about the Old Town of Bar, Djurovic says that “the valorization of the Old Town of Bar is something that requires serious financial resources and professional help, and that is why, in cooperation with the Ministry of Culture, we are to give full importance to that historical site. Activities are underway to find funds for the reconstruction of parts of the Old Town through the cooperation of all competent institutions, as well as to intensify activities so that it can be included in the UNESCO list of world cultural heritage as soon as possible”.

Djurovic has no doubts about restoring the Bar-Bari ferry line.

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“The restoration of the ferry line Bar – Bari, in my opinion, is of the greatest importance both for the City of Bar and for the whole of Montenegro. With the recent purchase of the shares of Port of Bar by the state with the aim of reuniting it into a single company, the renewal of this traffic line would be a complete hit. As you know, that line connected Montenegro and Italy for years and enabled both the municipality and the rest of the country to have intensive economic cooperation and the arrival of tourists from Italy throughout the year. Prime Minister Abazovic started talks on this topic with the management of the Morfimare company this summer, and the Ministry of Economic Development and Tourism will do everything to get intensively involved in the negotiations”, he explains.

When referring to ToMontenegro, Djurovic says that “we need to work on increasing the number of planes so that we can be connected to as many destinations around the world throughout the year. From that aspect, Air Montenegro, should be strengthened with flights to Western Europe, Scandinavia and the countries of the Middle East”.

“According to the latest data from MONSTAT, in the first 10 months the total inflow of foreign direct investments was €932m, which is a growth of 37.5% compared to 2021, or 66.5% if we talk about the net inflow (€663.5m). When it comes to investors, they come from Serbia, Russia, Switzerland, the United Arab Emirates, Germany, Italy and Turkey”, Djurovic points out.

Djurovic also discussed the accommodation capacities in the north.

“I believe you are aware that, as part of the economic citizenship program, the construction of 9 hotels in the north of the country is currently underway.

It is planned that with the opening of these hotels, 1,129 accommodation units will be put into operation in the north and more than 800 new jobs will be created. The value of these investments is projected at €113.8m”, Djurovic stresses.

When asked about the rapid growth of the price of foodstuffs, Djurovic points out that it is something that the Government can’t affect.

“The Government can’t stop the inflation, but it can reduce the consequences that it leaves on the citizens’ standard of living”, he says.

“Forecasts for this year are optimistic, but with a dose of caution. Good results in 2022 are a good basis for expecting further recovery and economic growth. I will remind you that, according to numerous indicators, the Montenegrin economy recorded excellent results last year. In the Q2, we had the highest growth in gross domestic product in Europe – 12.7%. The total export of goods for 11 months amounted to €623.5m, which is almost 65% more compared to 2021.

I believe that the adoption of the 2023 Budget worth €2.8bn is a realistic and sustainable support for everything that awaits us, which, unfortunately, does not depend only on us.

Global trends are such that some negative trends will continue this year. Nevertheless, I have no doubt that the Government will, as before, manage to cope with all the challenges”, Djurovic concludes, CDM reported.

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