INTERVIEW
We Must Nurture
THE STRENGTHS GORAN ĐUROVIĆ
MONTENEGRIN MINISTER OF ECONOMIC DEVELOPMENT AND TOURISM
Recognised as an ecological country with great material and intangible cultural wealth, Montenegro represents a world brand that must be represented adequately, promoted strongly and validated sustainably
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ollowing the good post-Covid recovery of the economies of our part of the world, particularly in Montenegro, came the conflict in Ukraine, which has also had a significant impact on the world economy. That’s precisely why we began our interview with Montenegrin Minister of Economic Development and Tourism Goran Đurović by asking him about the impact of these trends on Montenegro’s economy. “The Montenegrin economy began its recovery in 2021. Although the collapse of tourism was the main reason for the Covid19-fuelled recession that the country experienced in 2020, it was also tourism that proved to be the driving force behind the revival of 2021. We now have a new world crisis caused by the war in Ukraine. These tough junctures for the globally sustainable system have also spilled over onto Montenegro, which – as a small country with an open economy that’s dependent on import – is feeling the negative consequences. With the right decisions, I’m completely certain that the series of extreme situations in the world economy will only have a short-term impact on Montenegro,” says our interlocutor, before adding that economic development is one of the two key pillars for the new government. “This government will initiate new reforms and maintain and reinforce ongoing economic reform processes that have the aim of improving the quality of life of all citizens and the investment climate, with which foreign direct investment in Montenegro will increase,” says Minister Đurović. “We are very optimistic when it comes to the upcoming summer tourist season. We can expect the complete recovery of tourism this
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year, and the level of revenue projected in the 2022 budget. It is important to note that record levels were achieved during the winter tourism season and, if we judge according to the pre-season, we can estimate that the period ahead will provide a dose of security to our economic and financial stability.” ■ What kind of support can the companies in Montenegro that are the most exposed to the risks of global inflation, as well as disruptions to the energy market and supply chains, count on receiving from your ministry?
- I don’t believe that the negative impact of Russian aggression in Ukraine will greatly imperil the economy and tourism. We must be optimistic and believe that the Montenegrin economy is resilient, that the current situation will resolve itself and that we will have the normal GDP growth that we expect. When
it comes to GDP growth estimates, we don’t consider that to be the only economic variable that we must monitor, but rather as being part of a larger number of indicators that we monitor with the aim of gaining a broader overview of the bigger picture of the Montenegrin economy. A developed economy reflects a stable and developed country, and a highly developed sector of micro, small and medium-sized enterprises, which comprises a large percentage of Montenegro’s total economic activity. Our task is to provide these companies with a transparent and predictable environment for doing business and ensure their participation in the adoption of policies and regulations, but also to provide specific forms of support. During the previous period, through three support packages for the economy, support worth over five million euros was provided for business start-ups, equipment procurement, expanding operations and consulting, as well
