At today’s meeting among representatives of the Central Bank and representatives of commercial banks and the Association of Banks, it was concluded that it would be best to target a new package of measures to micro, small and medium businesses, i.e. the part of it worst hit by Covid-19.
“This proposal is justified by the fact that the sector comprising micro, small and medium-sized businesses hires over 75% of the total number of the employed in Montenegro, and takes part in the export in the same percentage,” the CBM noted.
The Central Bank will, in short order, prepare the amendment to the former decision on sectors worst hit by the coronavirus, thus trying to expand the list of priority sectors and include all those areas that the government recognized as endangered, as well as a certain number of additional ones that the CBM had identified along with commercial banks.
“It is very important to find a balance between providing necessary support to the economy and preserving stability of the banking sector,” CBM’s Governor, Mr Radoje Žugić, pointed out.
It was agreed to have more frequent communication with banks and carry out sustained monitoring of the latest trends, in order to be able to align measures with the current situation in a timely manner.
