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Over last 2 years registered unemployment rate fell from 21% to 17.2%, LFS-based rate fell from 17.7% to 14.1%, PM Marković stresses

Over last 2 years registered unemployment rate fell from 21% to 17.2%, LFS-based rate fell from 17.7% to 14.1%, PM Marković stresses
Published date: 24.10.2018 14:43 | Author: PR Service

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Podgorica, Montenegro (24 October 2018) -- Prime Minister Duško Marković noted earlier today in the Parliament that thanks to the vision and courage of this Government, according to administrative data, the registered  unemployment rate in Montenegro fell from 21% to 17.2%, whereas the LFS-based unemployment rate fell from 17.7% to 14.1%, and that the economic growth of the country is among the largest in Europe.

"It is this vision that has ensured that for two years now we have had economic growth among the largest in Europe, that the revenues have been collected according to the plan, that the current spending is financed from the original income, that according to administrative data, the registered  unemployment rate in Montenegro over the last two years has fell from 21% to 17.2%, whereas the LFS-based unemployment rate fell from 17.7% to 14.1%," said PM Marković responding to the question by Raško Konjević, MP, referring to the Law on Reprogramming and its application, as well as the minimum wage and burden on business entities.

Prime Minister Marković reiterated that precisely this Government, at the time of adopting unpopular fiscal consolidation measures a little over a year ago, despite the recommendations of the IMF, did not increase the tax rates on the income of natural persons, and stated: "We were to provide the continuity of wage growth in the country, and further improvement of the standard of living. Data show that with the current rate of personal income tax, the average number of employees in the first eight months of 2018 increased by more than 4,000, while in August alone this growth was more than 7,000 persons compared to the comparative month of the previous year. "

Referring to the fact that the state budget of Montenegro has experienced year-on-year growth in the collection of original income, the Prime Minister explained: "I want to tell you that on 18 October this year we collected over EUR 163 million more compared to the same period last year. This was significantly contributed by a 4.7% economic growth last year and 4.8% in the first half of this year, which is a key prerequisite for further employment and wage growth. It was also contributed by the fight against the informal economy through the increase in the number of formal employees, as well as activities to further collect tax debt and strengthen the fiscal discipline of taxpayers."

He also emphasised that since the beginning of the implementation of the Law on Reprogramming, EUR 38.68 million has been collected, which is above the Government's projections at the time of proposing this law.

The Prime Minister said that this Government will be working together with the Parliament, social partners and other interested stakeholders to find solutions to the most important development and fiscal issues.

"The Government must act in an thoughtful, not populist manner. And it certainly does not help the citizens by creating additional pressure on the state budget. Therefore, in the future, the Government will strive to find optimal solutions to the most important development and fiscal issues in a transparent manner, in cooperation with the Parliament, social partners and other interested stakeholders, and I believe that we can count on you as well. You worked on recording tax debt, and that is a difficult job, but you see that we have started collecting it," Prime Minister Duško Marković concluded in the Parliament earlier today.

PUBLIC RELATIONS SERVICE OF THE GOVERNMENT OF MONTENEGRO