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More loans granted to the business sector than in 2016

06/03/2018

The Banking Association Board of the Chamber of Economy of Montenegro considered information on macroeconomic trends, the situation on the capital and insurance markets in 2017. Also the Law on the Chamber of Economy of Montenegro was presented and the 2017 Work Report of the Board was adopted.

Information on macroeconomic developments during 2017 was presented by Bratislav Vukčević, adviser to the Vice Governor of the Central Bank of Montenegro. In its December bulletin it is stated that inflation in 2017 was in line with projections.

GDP growth for 2017 is projected at three percent, i.e. four percent for 2018.

According to the Report of the Commission for Securities for 2017, negative trends were recorded on the capital market in terms of total turnover, market capitalization values, emission of new capital, the value of stock indexes, while the number of transactions increased. Total turnover on the Montenegro Stock Exchange in 2017 amounted to 47.45 million, which represents a decrease of 58.8% compared to the previous year. 

Secretary of the Board Ph.D. Nina Drakić invited the businessmen to nominate current topics for the Chamber’s meetings in order to improve operating of the banking and insurance sectors.

The meeting was conducted by the Board President Mladen Rabrenović. In addition to the Board members, Vice President of the Chamber Ivan Saveljić and Head of Legal and General Affairs Mitar Bajčeta participated in the meeting.