English

Marković presents package of measures to support economy and citizens

09/04/2020 16:25
Izvor:

Montenegro’s Prime Minister, Mr Duško Marković, said in his address to citizens today that Government had prepared a package of economic measures with the aim of supporting economy, employees and vulnerable citizens.

PACKAGE OF MEASURES

*Subsidies for closed activities for April and May 2020 amounting to 70% of minimum wage and 100% of taxes and contributions for the minimum wage for every registered employee in sectors which had to be closed due to epidemic;

* Subsidies for vulnerable activities for April and May amounting to 50% of the gross amount of minimum wage for every registered employee in sectors whose work has been jeopardized due to epidemic;

*Subsidy for wages of the employees on paid leave for April and May 2020 amounting to 70% of minimum wage for every employee who had to stay at home to take care of children under the age of 11;

* Subsidies for wages of the employees in quarantine or isolation for April and May 2020 amounting to 70% of minimum wage for every employee who had to be in quarantine or self-isolation;

*Subsidies for new employment amounting to 70% of gross minimum wage for the period of 6 months for entrepreneurs, micro, small and medium enterprises registering new employees in April and who have been reported as unemployed persons at the same time;

These measures also include reliefs for the enhancement of liquidity.

  • The Government will task Investment and Development Fund with designing new credit lines to complement with Government’s measures.
  • State authorities, institutions and other entities having public authorizations, as well as legal entities mostly owned by the state will require delay of the exercise initiated by their proposal for the period of 60 days, for business entities in the activities whose work has been forbidden due to epidemic.
  • All energy subjects will be exempt from the fixed part of the bill for electricity for April, May and June.

 

In addition, Electric Power Company of Montenegro will double the amount for subsidies for the electricity for socially vulnerable households.

Every requested recovery of VAT will be implemented in 45 days maximum and Customs Administration will extend limit for the exposure of customs guarantee from 30 to 60 days for April and May for business entities which had been forbidden to work.

He said they expected agriculture sector to strongly encourage revival of economic activities, the reason why Government has committed to supporting agriculture additionally through:

One-off assistance to fishermen, payment of contributions to insured persons on the grounds of agriculture; one-off support for users of elderly fees; support for the purchase of domestic products; support for payment of products within 15 days; favorable loans for the acquisition of working capital and payment of interest to users of those loans; advance payment of 80% of some premiums.

To preserve what we have

“Every EUR we invest in this package of measures must contribute to maintaining what we already have and create conditions for faster recovery of the economy. Over the past few years, Montenegro has been on an upward trajectory and confirming its ability to develop and manage processes of the overall prosperity. It is our duty to do our best and find way out of this crisis that has hit the entire world. Therefore, this package is even greater step forward. And this is just the beginning of overarching economic measures we are going to take gradually and recover our economy. It is not going to be easy but I can assure you, we are going to get out of this stronger! TOGETHER FOR MONTENEGRO, UNITED FOR THE CITIZENS!”, PM said.

 

 

Mr Marković said that Montenegro was coping with the epidemic successfully.

“I would like to thank everyone who has shown high level of awareness. Contribution of every citizen is essential. Discipline has to be imposed”, Mr Marković says.

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