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Golubović: We must stimulate the economic development

Vlastimir Golubović

In an interview for Dnevne Novine daily, president of the Chamber of Commerce, Mr Vlastimir Golubović, assessed that the government showed a high degree of respect for the industry’s requests, which has been recognized in the first two sets of taken measures. The measures, according to him, were adequate, aiming to preserve liquidity and jobs.

Special attention should be put on stimulating the development of industrial capacities: “As industrial capacities will ensure further valorization of natural resources for the production of construction products, wood products, and the use of rich ore potential,” said Mr Golubović.

When asked to comment on opinions of several analysts claiming that the Montenegrin economy needs to be restructured, Mr Golubović noted: “The economic reform program, as well as other strategic documents, set goals that clearly indicate that decision makers have recognized the need for restructuring of the Montenegrin economy in order to alleviate its dependence on individual sectors and ensure growth in a long run.

The agriculture budget has been significantly increased and a number of measures has been introduced, which, with the increasingly successful use of available international funds, creates favorable circumstances for investment in agriculture. About €250 million from the national budget and international programs for investments in this sector will be provided in the coming period, of which over 150 million are grants.”

Speaking about the potential increase in job losses due to the pandemic, the President of the Chamber of Commerce said: “The government directly supported jobs. I think we still can’t talk about the increase in the unemployment rate following the coronavirus outbreak, and we believe that the govt’s efforts to preserve jobs will have positive outcomes.”

As for the announced third package of measures, Mr Golubović said: “The third package of measures should include support for the development and the return of economic activity to growth rates from previous years. Therefore, the measures should include refinancing of existing and granting of new investment loans and those for fixed current assets. New loans should be approved with a longer grace period and repayment periods, with lower interest rates and loan processing costs. In this regard, the Central Bank of Montenegro will have to communicate with commercial banks more intensively in order to create conditions for faster recovery of business operations.”

The President of the Chamber of Commerce also commented on pay cuts that some companies might be imposing following the 13.jul-Plantaže example, saying that “the Chamber of Commerce recommended companies to refrain from cutting salaries for their employees.”

 

 

 

 

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