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16/06/2023

At today’s meeting, the Council of the Central Bank of Montenegro adopted annual reports containing an overview and evaluation of the CBCG’s policies and activities implemented in the previous year.

The reports stated that preliminary data showed that Montenegro’s economy grew by 6.1% last year, mainly due to increased private consumption and the strong recovery of goods and services exports. Positive trends were in tourism, trade and most types of transport, while industrial production and construction declined.

In 2022, despite the challenging economic environment, the banking system was characterised by high liquidity, good capitalisation, and deposits and loans growth. This year’s first quarter also showed preserved banking system’s stability and resilience, expressed, inter alia, through a high capital adequacy ratio.

To meet its obligation stems from the Law on Credit Institutions to determine Montenegro’s quarterly countercyclical buffer rate, the Council adopted the Decision on the Countercyclical Capital Buffer Rate for Q3 2023. Based on the analysis of relevant trends in the banking sector and the overall economy, the Decision determined that the countercyclical capital buffer rate for Q3 of 2023 would be 0%.

Today, the Council adopted the Report on Central Bank operations and implementation of the Central Bank Policy in March 2023 and other materials under its competence.