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Montenegro

MIHAILOVIC BELIEVES 14. 10. 2019.   >>  18:08 0

MIHAILOVIC BELIEVES

To make it through this year, then debt drops down from the next

World Bank estimates of public debt drop from next year are very good and we know it without the foresight of international financial institutions, with all due respect.

We know that we have reached the peak when it comes to debt and that the reduction is coming, said professor at the Economics Faculty of the State University and president of the Union of Economists of MontenegroBozo Mihailovic in an interview with Dnevnenovine.

As he said, we need to make through this year and then start repaying the debt.

"The basic condition is that GDP grows, and all projections are that it will, I believe even more than the World Bank forecasts," Mihailovic said.

With, as he said, due respect for the World Bank, IMF, European Bank and all their experts, Mihailovic expects the Montenegrin economy's growth rate to be slightly higher than their projections by the end of the year.

"Let me remind you that I said at the beginning of this year that the growth rate would be lower than last year, but that it would be slightly higher than their forecasts. I must also say, while hoping that I won’t sound immodest, thatI did not adjust my estimates for the past year and they did so, twice. So, my expectations are that the Montenegrin economy will continue to grow positively and that this growth will be carried over to next year,"he said.

Of course, he says, he does not think that Montenegro’s economy is all sunshine and rainbows.

"But we have to say that pensions are paid with so-called filigree precision, that salaries in education, health care, state administration are received on time," said Professor Mihailovic.

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