The American Chamber of Commerce in Montenegro hosted a business luncheon with guest speaker, Mr. Milorad Katnic, PhD, Minister of Finance of Montenegro. The business luncheon was held on May 11, 2012 at the Ramada Podgorica and was attended by U.S. Ambassador to Montenegro, Ms. Sue K. Brown, members of the American Chamber of Commerce, and numerous distinguished guests. During the luncheon, Minister Katnic had the opportunity to address guests about the current economic situation in Montenegro and the Government’s plans for the future.

The Minister stressed that the role of the Government in this fiscal year is the preservation of financial stability, which, he believes, is a precondition for economic recovery and growth.  Minister Katnic also stressed the need to create positive conditions for all capital that comes into Montenegro.  He mentioned that Montenegro is feeling a decline of foreign direct investment and lower credit activity that comes from Eurozone countries and the rest of Europe.

Concluding, the Minister added that the Government must focus on long term growth objectives and goals and also believes that fiscal reform is necessary to strengthen the economy in the long run.