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Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 060
Language:
English
Publication Date:
24 Feb 2022
DOI:
https://doi.org/10.5089/9798400201332.002
ISBN:
9798400201332
ISSN:
1934-7685
Pages:
76
Keywords:
production GDP estimate; staff growth estimate; authorities' baseline scenario; Montenegrin authority; taxation regime; Government debt management; Labor taxes; Europe; Global
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 060