Montenegro, public finances under pressure

Due to excessive public spending, Montenegro has exceeded the EU-prescribed limits regarding public debt, budget deficit, interest rates and inflation, seriously endangering the stability of the country’s public finances.

Montenegro’s Law on Budget and Fiscal Responsibility states that, in cases of excessive deficit or debt, the government must request the opinion of the Fiscal Council within fifteen days. However, this body has never been established, despite repeated warnings from the European Commission, which has for years urged Podgorica to take action on this issue.

Full article on OBCT  by Tijana Lekić and Đurđa Radulović 

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