Montenegro should create financial reserves so as to secure its economic future, an expert says.
Montenegro should create financial reserves so as to secure its economic future, an expert says.
Belgrade economist Ljubomir Madžar told the Podgorica daily, Dan, that Montenegro at present had a considerable inflow of funds from abroad via privatization, real estate sale, and loans, but added it was a one-off situation that soon might end.
“Montenegro took out a massive mortgage on its economic future,” he said, stressing it would be wise to create state financial reserves as soon as possible.
According to Madžar, foreign inflow "demobilized domestic development efforts, lead to uncontrolled and irrational spending, and decelerated economic growth."
