ACCORDING TO EBRD MONTENEGRIN ECONOMY WILL RECORVER NEXT YEAR AFTER COVID-19 HIT

The Montenegrin economy is probably going to be hit by the COVID-19 pandemic because of high reliance on the travel industry, said the top of the European Bank for Reconstruction and Development-EBRD office in Montenegro, Jap Spray, including that recuperation is normal one year from now.

Splash said the travel industry income would decay fundamentally this year in Montenegro since sightseers from significant markets will be unable to head out because of measures to contain or decrease their salary.

Spray pointed out: "The overall effect to Montenegro will depend on the length of the blockade measures and the structure of the economies themselves. A longer duration of isolation could result in a prolonged recession, while countries with a high share of tourism and other, mostly personal services, in GDP, may be more severely affected,"

"Before the COVID-19 pandemic, we planned almost to double our business volume, bringing it to the level of EUR 75 million. We are now on track to make it more than triple last year's amount by investing over € 120 million in existing and new clients," said Spray.

The EBRD as of late affirmed an expansion in subsidizing to help the creating economies where the bank works, to EUR 21 billion this year and next.

The EBRD, as per Spray, is adjusting and scaling up existing instruments and growing new budgetary and strategy bolster activities to forestall the quick coronavirus danger to the economy of Montenegro.