Socio-economic measures for the coronavirus crisis in Montenegro

First package of socio-economic measures
EUR 280 million to maintain current liquidity and supporting the most vulnerable categories of the population

 

Second package of socio-economic measures
About EUR 40 million have been set aside for that by June to preserve jobs and create preconditions for a faster recovery of economy

 

Third package of socio-economic measures
EUR 1.22 billion- a development package with a long-term view on the valorization of domestic resources in the function of sustainable development. It covers the period of 4 years

 

Short-term measures

  • Defined concrete and market-based rapid and strong development breakthroughs, i.e. structure and dynamics of potential investments by areas for long-term economic development of Montenegro, as a continuous measure during and after COVID-19 crisis in accordance with sectoral policies of competent ministries created for the needs of the third package of economic measures.
  • Support to vulnerable categories of the population in order to combat the negative effects of the pandemic. The support amounts to EUR 200 and full value of this support is EUR 1.8 million. Additionally, a rise of 13% is planned for the beneficiaries of lowest pensions as of January 1st, 2020, thus the difference for 2020 will be paid to them retroactively.
  • Model of providing additional fiscal space, and its putting into service of implementation of measures

 

Medium and long -term measures

  • Strengthening IT activities
  • Support to the tourism sector
  • The concept of rapid breakthroughs in the agriculture and fisheries sectors
  • Rehabilitation and development economic measures
  • Traffic support

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