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21. 07. 2022. 00:00   >>  19:36


I do not believe that a major economic crisis will hit Montenegro

Deputy Prime Minister and Minister of Agriculture Vladimir Jokovic said that he is not so pessimistic that a major economic crisis will hit Montenegro.

He announced in the parliament, among other things, that inflation in Montenegro is 13.5 percent, which, he said, is not too high compared to what happened to the stable economies of the European Union (EU) countries.

The fact that we did not have an export of aluminum, says Jokovic, we replaced it with the export of electricity that would have been consumed by KAP for production purposes.

"So, this year so far EPCG's profit is 44 million euros, just because they sold electricity on the stock exchange," explained Jokovic.

He reminds that due to the reduction of excise duty, Montenegro has the lowest price of oil derivatives today.

He also says that the prices of basic foodstuffs, grains and petroleum products are falling, and that many people are talking about the expected economic crisis in the fall: "We know that it was caused to a large extent by Russia's invasion of Ukraine."

He believes that the real economic situation is serious, but it is not dramatic and cannot be like that.

As he said, Montenegro should not even have abolished the commodity reserves: "Everything is devastated, even if someone gives us everything for nothing, we have nowhere to store it, except in trade chains. Perhaps we should make an arrangement with them to do it that way, if the crisis continues".

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