Montenegro: Technical Assistance Report - Public Investment Management Assessment

Author: International Monetary Fund. Fiscal Affairs Dept.

Volume/Issue: Volume 2022 Issue 166

Publication date: June 2022

ISBN: 9798400210891

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Topics covered in this book

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Money and Monetary Policy , Public Finance , International - Economics , IMF's Fiscal Affairs Department , management framework , I , Public investment , efficiency frontier , staff team of the International Monetary Fund , staff from the IMF's Fiscal Affairs Department , Budget planning and preparation , Capital budget , Public investment spending , Capital spending , Global

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Summary

Public investment is expected to play a significant role in the post-pandemic economic recovery in Montenegro. Due to the importance of the tourism sector, the pandemic has had a deep economic impact. In addition, as government debt already exceeds one hundred percent of GDP, fiscal space to increase public investment is limited. Nevertheless, the completion of the first phase of the Bar-Boljare Highway (BBH), by the end of 2021, should free up public resources within the budget constraint, that could be used for public investments. In this context, a strengthened public investment management (PIM) framework would contribute to maximize its impact on economic growth.