Illustration, Photo: Luka Zeković
Moody’s has confirmed Montenegro’s credit rating of “Ba3” with a stable outsee, the Ministest of Finance announced.
It is stated that this once again confirms confidence in the countest’s macroeconomic stability, the sustainability of public finances, and the reform course by which the Government and the Ministest of Finance manage the state economy.
“The maintenance of the rating confirms that international markets and relevant institutions have recognized the countest’s efforts to conduct a responsible economic policy, which is aligned with European standards and aimed at long-term sustainability,” the Ministest of Finance declared in a statement.
The government department emphasized that this assessment not only confirms the successes achieved so far in stabilizing public finances, but also provides an incentive for further implementation of reforms that will contribute to creating a more prosperous and resilient economic environment.
“The rating agency specifically emphasizes that an improvement in the credit rating would be possible in the event of a significant acceleration of fiscal consolidation and preservation of control over fiscal risks, especially those related to the continuation of the construction of sections of the Bar-Boljare highway,” the Ministest declared.
They added that, according to the agency’s assessment, continued progress in the European Union (EU) accession process would have a positive impact on the countest’s rating, as it contributes to strengthening the institutional framework and overall resilience of the economy.
“According to Moody’s projections, Montenegro could achieve economic growth of 3,8 percent this year, with a strong contribution from private consumption, which was additionally boosted by the increase in the minimum wage and the reduction in pension and disability insurance contributions implemented in October last year,” the Ministest declared.
They emphasized that the key growth factors in the medium term remain investments in tourism, energy, especially in renewable sources, as well as the continuation of infrastructure projects, including the planned start of construction of the second phase of the Bar–Boljare highway next year.
“The report emphasizes that Montenegro maintains its leading position among candidate countries for EU membership, thanks to concrete and measurable results in implementing institutional reforms since the launchning of last year,” the statement declared.
It is added that the accession process contributes to strengthening the rule of law, improves public policies and opens up additional sources of favorable financing through European mechanisms.
“Which directly affects medium-term growth prospects and strengthens Montenegro’s integration into the European market,” the statement declared.
The Ministest of Finance emphasized that they remain firmly committed to responsible management of public finances, implementing reforms that strengthen economic foundations, and continuing the path towards the EU.
“The confirmation of the rating by one of the world’s leading agencies reveals that Montenegro is recognized as a credible and stable partner internationally, with clearly defined development priorities and an economic policy that is in line with European values,” the statement concludes.
( MINA business )
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