Europe > Montenegro

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International Monetary Fund. European Dept.

Abstract

The COVID-19 pandemic has caused dramatic loss of human life and major damage to the European economy, but thanks to an exceptionally strong policy response, potentially devastating outcomes have been avoided.

Mr. Ruben V Atoyan
,
Ms. Dora Benedek
,
Ezequiel Cabezon
,
Mr. Giuseppe Cipollone
,
Mr. Jacques A Miniane
,
Ms. Nhu Nguyen
,
Mr. Martin Petri
,
Mr. Jens Reinke
, and
Mr. James Roaf
An assessment of public infrastructure development in the Western Balkans. The paper quantifies the large gaps across various sectors/dimensions, evaluates current infrastructure plans, and discusses funding options available to countries in the region. The paper also identifies important bottlenecks for increased infrastructure investment. Finally, the paper quantifies potential growth benefits from addressing infrastructure gaps, concluding that boosting the quantity and quality of infrastructure is vital for raising economic growth and accelerating income convergence with the EU. The paper concludes with country-specific policy recommendations.