Crisis due to the coronavirus pandemic has not undermined the stability of the Montenegrin economic system, claims economy minister, Ms Dragica Sekulić. In an interview for Pobjeda daily, she says that the govt’s response through the first two packages of measures contributed to somewhat milder economic consequences. The Minister also says that strengthening of domestic production will continue to be the govt’s major focus through a specific range of measures.
What has Montenegro learned from the economic crisis following the coronavirus pandemic?
Ms Sekulić: The economic crisis caused by the coronavirus epidemic has shown that we need to intensify some of the previously undertaken activities – primarily the programs that support the economy and improve the competitiveness of our companies in both domestic and international markets.
Has the coronavirus crisis undermined the stability of the Montenegrin economy and to what extent?
Ms Sekulić: I don’t think that the coronavirus crisis has endangered the stability of the Montenegrin economic system. I believe that our response through the first two packages of measures has contributed to minimizing the negative economic consequences at this stage, both through the postponement of companies’ liabilities, as well as through subsidies.
Can the rather large dependence of the Montenegrin economy on the hospitality sector, primarily tourism, cost Montenegro a lot in case a second wave of the virus happens? Do you plan to change the structure of the Montenegrin economy?
Ms Sekulić: Strengthening domestic production in the previous period has been the focus of our policies and will continue to be in the coming period as well. With domestic production, we will reduce import and potentially increase exports. We will work intensively on strengthening domestic production through a special set of measures. Montenegro is not the only country that has based its development on tourism. The situation we found ourselves in showed us that this was not enough and that we have to turn more to other activities.
Are you preparing some new type of subsidies for businessmen in the new aid package and when do you expect that they could be realized?
Ms Sekulić: We’ll closely monitor and analyze the needs of companies and based on that, we’ll make decisions, just as we’ve doing so far. The third package of economic measures will try to help projects already started, as well as the new ones.
We’ll effectively respond to a second wave of Covid-19 infections
Will the Montenegrin economy be ready for an eventual second wave of the coronavirus?
Ms Sekulić: The fact that Montenegro has become Europe’s first coronavirus-free destination tells that we readily responded to the first wave of infections and reacted timely and correctly. We’ve proved to be able to cope with the virus. If a second wave happens, we’ll definitely respond to it even more readily.
