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15/01/2018

Ambassador of Germany to Montenegro H.E. Mr Hans Ginter Matern visited the Central Bank of Montenegro (CBCG) today where he met with the Governor Mr Radoje Žugić, PhD.

Expressing his greetings to Ambassador Matern, the Governor Žugić reflected on his recent visit to Germany where he had a meeting with the President of the Deutsche Bundesbank, Mr Jens Weidmann. Governor Žugić emphasized that the Central Bank of Montenegro has a very good cooperation with the Deutsche Bundesbank and expressed his expectation that it will be further intensified by extending the bilateral cooperation programme.

The CBCG Governor presented to the German Ambassador the current economic situation in Montenegro. The Governor pointed out that, according to preliminary data for the first nine months of last year, the recorded growth was 4.5% and also expressed his belief that the trend will continue in the year ahead. When it came to the banking sector, the governor found it stable and highly profitable, stating that the previous year was characterized by continuous growth of assets, capital and deposits. On the other hand, the interest rates and the level of non-performing loans were on a continuous decline.

Ambassador Matern noted that the bilateral relations of the two countries are improving, which is also reflected in the successful cooperation of the central banks of the two countries. He emphasized he was ready to further strengthen cooperation with the CBCG and the Governor himself, therefore contributing to bilateral economic cooperation.

Governor Žugić showed his appreciation to Ambassador Matern for the continued support of Germany to Montenegro on the path to European integration.