Membership in NATO will improve the economy of Montenegro
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Membership in NATO will improve the economy of Montenegro
The prospect of Montenegro's membership in NATO is a good indicator and a solid basis for improving the economy, as it will bring significant economic benefits, the Minister of Finance of the country Radoye Zugic believes.
In the edition of the annual report of the Ministry of Finance it is said that economic benefits are reflected in the prospect of market expansion, lower costs for national security, the possibility of using financial assistance and increasing the influx of tourists.
The invitation to join NATO alliance, received in the previous year, clearly shows that Montenegro is observant of laws, a democratic state, adhering to the same principles as the most developed countries of the world. In addition to political importance, the invitation to join NATO confirms that Montenegro has been recognized as a stable and safe place for investment, Zugic said.
The accession to the bloc of the North Atlantic alliance, he noted, is considered not only from the point of view of the defense and military spectrum.
In practice, it is confirmed that the movement of the country toward NATO membership is the best indicator for broad business circles, contributes to improving the business climate and increases investor confidence.
Thus, this creates favorable conditions for foreign investors and entails the development of local enterprises, which has a significant impact on economic development in general, Zugich said.
"Analyzing the experience of countries that have joined NATO in recent years, we can make an unambiguous conclusion that in all these countries there has been an increase in the growth rate of gross domestic product (GDP) during the period of joining the alliance, and that over the same period, their economic performance has improved , he added.
In addition to intensive activities in terms of Euro-Atlantic integration last year, the Minister of Finance, notes the implementation of many economic policy programs aimed at improving the standard of living of citizens.
The strategic objective of Montenegro's economic policy is based on ensuring financial stability, increasing the competitiveness of the economy and creating conditions for more dynamic economic growth and development, Zugic said.
According to him, these postulates are based on the budget policy for the subsequent medium-term period.
In this regard, the budget for this year is designed in such a way as to ensure further fiscal consolidation and increase in the country's incomes, as well as creating an enabling business environment and continuing to intensively fight against the shadow economy, Zugich said.
As for expenses, he added, it is planned to keep current expenses at the optimal level, in order to reduce the budget deficit and establish a budget balance.
"To this end, we are approaching a continuous reduction in the deficit (budget) from the level of 3.3 percent of gross domestic product (GDP), which was planned in 2012, to 0.71 percent of GDP, projections for this year, excluding expenditure , connected with the implementation of the project for the construction of a highway, "Zugic said.
The issue of public debt, he said, remains at the center of attention of fiscal policy, taking into account the need to finance capital projects, which in the long term, will ensure, among other things, economic growth and development of the country.
In terms of growth and competitiveness, we have chosen several areas in which Montenegro has the greatest natural resources and encouraging which, we can achieve good economic results, commented the head of the Ministry of Finance.
He added that the forecasts for the upcoming period were compiled based on the results of the previous year and based on the expected effects of the initiated investment cycle, it is planned that Montenegro will enter a phase of dynamic growth. This means that the real rate of GDP growth this year will be 4.1 percent.
Four priority development sectors have been formally established: tourism, energy, agriculture and rural development and production ..., ... Based on these postulates, a government policy has been created that reflects the needs and interests of Montenegro. Its proper implementation will help achieve economic goals and improve living standards, while progress in the Euro-Atlantic integration process is designed to strengthen Montenegro's position in the international arena and accelerate reforms in order to achieve European standards ....
Montenegro is on the path that it wants and should be - on the road to full integration into the European Union (EU) and NATO. This is a way to guarantee long-term security, economic and social well-being, Zugic concluded.
Source: rtcg.me#VitoSergejevic
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