Representatives of the World Bank commended the progress of Montenegro at today’s meeting with the governor of the Central Bank of Montenegro (CBCG) Radoje Zugic. They also said that our country should consider changing the growth model in order to strengthen the domestic capacities of the economy and improve its competitiveness.
Zugic said that the banking system in the previous year was improved, which is confirmed by the fact that all parameters of the banks’ operations recorded growth.
On the other hand, the share of non-performing loans in total loans has been reduced, as well as interest rate levels.
Emanuel Salinas, World Bank country manager for Montenegro, praised the activities of the CBCG which contributed to improving the efficiency of the banking sector, and thus to preserving financial stability.
“Progress in the part of the financial system is above expectations,” Salinas said, adding that the World Bank sees Montenegro’s progress in many areas of the economy, but that there is a need to think about changing the growth model in order to strengthen the domestic capacity of the economy and improve its competitiveness, as well as contributing to the creation of new jobs and improving living standard.
Salinas emphasised the World Bank’s readiness to provide support to Montenegro in this direction and announced the intensified presence of this financial institution in Montenegro in the upcoming period.
