Montenegro: Selected Issues

September 14, 2017

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Montenegro: Selected Issues, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This paper discusses the first phase, to be constructed from 2015 to mid-2019, comprises a 41-kilometer section that is to provide an efficient and safe transport link between Podgorica and the poorest northern region in Montenegro. It runs through the mountainous terrain in the center of the country that is economically undeveloped. Due to its large cost (25 percent of 2017 GDP), the first phase of the highway has used up most of Montenegro’s fiscal space and will crowd out other productive spending. For the foreseeable future, the second and third parts of the highway could only be financed with concessional funds, because loans would destabilize the debt sustainability of Montenegro. The government’s main motivation for this large project is the need to improve connectivity, particularly to Europe through Serbia, boost tourism and trade, improve road safety, and strengthen national security. The highway is a part of Montenegro’s plans to integrate the Montenegrin transport network with those of neighboring countries.

Subject: Expenditure, Labor, Pension spending, Pensions, Public debt, Retirement

Keywords: CR, Early retirement, Europe, Excise tax, Global, Interest rate, ISCR, Local government, Nominal GDP, Pension spending, Pensions, Private sector, Retirement, Retirement age, Wage bill

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/277
Stock No:

1MNEEA2017002
ISBN:

9781484319062
ISSN:

1934-7685

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