Montenegro's government is implementing sizable fiscal consolidation measures to address the strains on the country's public finances, mainly stemming from ongoing highway construction.
Montenegro's government is implementing sizable fiscal consolidation measures to address the strains on the country's public finances, mainly stemming from ongoing highway construction. We are revising our outlook on Montenegro to stable from negative, and affirming our 'B+/B' ratings. The stable outlook balances the risks of emerging financing pressures for Montenegro's twin fiscal and external deficits over the next 12 months against the potential for a faster consolidation progress and stronger-than-expected economic growth. he outlook revision reflects our expectation that the government will firmly press ahead with its consolidation efforts by implementing the recently legislated revenue and expenditure measures. These efforts would enable the rapid curtailment of government deficits, especially following the end of the construction of the first section of the Bar-Boljare highway scheduled for 2019 and would kick start a reduction of