The Montenegro Stock Exchange saw a modest rise in indices and a significant increase in trading volume during the week when Prime Minister Milojko Spajić introduced plans for tax reforms and new infrastructure projects.
The MNSE10 index, which tracks the top ten companies, increased by 0.6% to 986.07 points, while the MONEX index rose by 0.3% to 15,010.85 points. Trading volume surged to €172,600, seven times higher than the previous week.
Shares of Elektroprivreda and Crnogorski Telekom experienced gains, with Elektroprivreda’s stock rising by 2.3% to €5.40 and Crnogorski Telekom’s by 1.4% to €2.10. Conversely, shares of Crnogorski elektroprenosni sistem fell slightly to €1.29, and Veleprodaja’s shares remained unchanged at €25.
Trading also included shares of Jugopetrol and Lutrija Crne Gore, priced at €12.50 and €1.40, respectively. By the week’s end, shares of Hipotekarna Banka were priced at €90, while TPC „Ražnatović“ shares were valued at €12.78.
Prime Minister Spajić’s announcement midweek detailed his plans for tax reforms aimed at benefiting the public and outlined major infrastructure investments, including 18 highway and expressway projects.
“We have 54 steps to complete the entire road infrastructure in Montenegro, and by the end of the year, 24 will be finished,” Spajić said. He noted that these projects will start with conceptual and detailed design phases.
Spajić also revealed that new measures to limit profit margins would be presented at the upcoming government meeting, affecting a broader range of products. He addressed inflation concerns, attributing past price hikes to the previous administration and geopolitical issues, and stressed the need to counter these trends to achieve deflation.
He assured that the Pension and Disability Fund (PIO) would remain sustainable and that pensions would not be reduced. “The PIO Fund will have sufficient resources for pension payments, and there will be no pension cuts,” Spajić assured.
Additionally, the week saw the resignation of Nevenka Janković, Executive Director of EPCG Željezara, following an incident where workers blocked representatives of Swiss firm 8B Capital, which has leased Željezara’s production facilities for 50 years, from touring the factory.
EPCG reported that the Swiss representatives were prevented from visiting the facilities by the union and workers after they presented their plans for starting production at the Nikšić plant. The union denied blocking the investors’ entry and accused Janković of misrepresenting them as troublemakers from the outset.
