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Europe > Montenegro

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Cover IMF Staff Country Reports
Montenegro: Technical Assistance Report - Public Investment Management Assessment
International Monetary Fund. Fiscal Affairs Dept.
Public investment is expected to play a significant role in the post-pandemic economic recovery in Montenegro. Due to the importance of the tourism sector, the pandemic has had a deep economic impact. In addition, as government debt already exceeds one hundred percent of GDP, fiscal space to increase public investment is limited. Nevertheless, the completion of the first phase of the Bar-Boljare Highway (BBH), by the end of 2021, should free up public resources within the budget constraint, that could be used for public investments. In this context, a strengthened public investment management (PIM) framework would contribute to maximize its impact on economic growth.
Keywords:
IMF's Fiscal Affairs Department; management framework; I. Public investment; efficiency frontier; staff team of the International Monetary Fund; staff from the IMF's Fiscal Affairs Department; Budget planning and preparation; Capital budget; Public investment spending; Capital spending; Global
Cover IMF Staff Country Reports
Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro
International Monetary Fund. European Dept.
COVID-19 hit the economy hard, but a strong recovery is underway. Public debt, already elevated before the pandemic, has increased further. The government has embarked on a reform program ‘Europe Now’, which aims to arrest outward migration through a sharp minimum wage increase, labor tax wedge reduction, and the introduction of a progressive tax code. The financial sector appears to have withstood the COVID-19 shock well.
Keywords:
production GDP estimate; staff growth estimate; authorities' baseline scenario; Montenegrin authority; taxation regime; Government debt management; Labor taxes; Europe; Global
Cover IMF Staff Country Reports
Republic of North Macedonia: Selected Issues
International Monetary Fund. European Dept.
Selected Issues
Keywords:
growth acceleration plan; investment trend; deviation from baseline; IMF government finance statistics database; investment plan; Public investment spending; Value-added tax; Infrastructure; Global