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At yesterday’s Cabinet session, the Government of Montenegro adopted the Pre-accession Economic Programme (PEP) for 2012-2015, drafted by the Ministry of Finance. The 2012-2015 Pre-Accession Economic Programme outlines the policies and structural reforms that need to be implemented over a three-year period. It will serve as a basis for creating a consistent economic policy aimed at boosting Montenegro’s economic competitiveness, mitigating the negative effects of the new wave of the economic crisis, and establishing a stable basis for a sustainable growth in the long term.
The PEP provides two macroeconomic and fiscal scenarios: baseline and lower growth scenario. Real GDP growth in the medium term is forecast at 2.5% in 2013, 3.0% in 2014 and 3.5% in 2015. The lower growth scenario is based on the assumption of growing negative trends in the eurozone: the recession, reduced loan activity, and higher unemployment. This scenario forecasts the following GDP growth in real terms: 1.0% in 2013, 1.5% in 2014, and 2% in 2015.
Source: Government of Montenegro
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