The Council adopted the Governor’s report on the operations and implementation of the CBCG policy for April 2015. The report showed that the activities of the Central Bank were implemented in accordance with its obligations laid down in the CBCG Work Programme in 2015.
The Council has also discussed the elements of the legal defining maximum interest rate and decided to continue the work on this activity.
The Decision on Amendments to the Decision on the contents of the Central Registry of Transaction Accounts was adopted, which stipulates including data on transaction accounts of natural persons in the current registry includes. The persons may be debtors in accordance with the Law on Enforcement and Securing of Claims.
“The decision stipulates that the Central Bank shall issue hard and electronic copies of lists containing numbers of transaction accounts of natural persons as debtors to public enforcement officers,” the CBCG communicated.
Pursuant to the adopted regulations, the Council adopted a Decision on amendments to the Decision on establishing the rates according to which compensations for provision of services performed by the CBCG are calculated.
In order to promote new electronic services of the Central Bank, the fee for issuing electronic copies of certificates and transcripts related to the enforced collection system will not be charged until December 31st.
The Council also adopted the Macroeconomic Report of the Central Bank of Montenegro for the first quarter of 2015. Although there are no official data on GDP trends in this period, the available statistical indicators in most of the sectors are showing mostly growing trend during the first three months of this year.
The growth was recorded in the sectors of tourism, trade, most forms of transport, construction, as well as in all three industry sectors. It is estimated that economic growth in 2015 might amount to 3.5%. The first quarter was marked by an increase in the current account deficit and also by an increase in net foreign direct investment inflows. The banking system is stable, solvent and liquid, but still burdened with high levels of bad loans.
The Council adopted the Inflation Report for the first quarter of 2015. The report showed that inflation, measured by consumer prices, increased by 1.2% in March 2015 compared to December 2014. At the annual level, consumer prices were higher by 1.6%. The annual inflation rate in Montenegro, measured by the harmonised consumer price index, was to 0.9%. Inflation is expected to range from 0.9 to 2.5 percent by the end of the year.
At the request of the Ministry of Finance and in accordance with the legal obligation, the Council reviewed and gave a positive opinion on the document “Debt Management Strategy for the Period 2015-2018”.
