{
  "title": "Montenegro: Technical Assistance Report - Public Investment Management Assessment",
  "publication": "IMF Staff Country Reports, June 9, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/06/08/montenegro-technical-assistance-report-public-investment-management-assessment-519043",
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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.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Public investment is expected to play a significant role in the post-pandemic economic recovery in Montenegro.\n- The pandemic has had a deep economic impact due to the importance of the tourism sector.\n- Government debt already exceeds one hundred percent of GDP, limiting fiscal space to increase public investment.\n- 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.\n- A strengthened public investment management (PIM) framework would contribute to maximize public investment's impact on economic growth."
    },
    {
      "heading": "Context and constraints",
      "content": "- Sectoral vulnerability: tourism-dependent economy suffered deep impact from the pandemic.\n- Fiscal constraint: government debt already exceeds one hundred percent of GDP.\n- Project-specific development: completion of the first phase of the Bar-Boljare Highway (BBH), by the end of 2021, expected to free up fiscal resources."
    },
    {
      "heading": "Implications and recommended focus",
      "content": "- Prioritize strengthening the public investment management (PIM) framework to improve the efficiency and growth impact of constrained public investment.\n- Reallocate resources freed by BBH completion toward productive public investments within existing budget constraints.\n\nInternational Monetary Fund. Fiscal Affairs Dept. \"Montenegro: Technical Assistance Report - Public Investment Management Assessment\", IMF Staff Country Reports 2022, 166 (2022), June 9, 2022.\n\n---\n\n Content in this bundle\n\n- 1mneea2022003\n  - 1mneea2022003 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1mneea2022003 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 9, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400210891.002",
    "Public investment is expected to play a significant role in the post-pandemic economic recovery in Montenegro.",
    "The pandemic has had a deep economic impact due to the importance of the tourism sector.",
    "Government debt already exceeds one hundred percent of GDP, limiting fiscal space to increase public investment.",
    "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.",
    "A strengthened public investment management (PIM) framework would contribute to maximize public investment's impact on economic growth.",
    "Sectoral vulnerability: tourism-dependent economy suffered deep impact from the pandemic.",
    "Fiscal constraint: government debt already exceeds one hundred percent of GDP.",
    "Project-specific development: completion of the first phase of the Bar-Boljare Highway (BBH), by the end of 2021, expected to free up fiscal resources.",
    "Prioritize strengthening the public investment management (PIM) framework to improve the efficiency and growth impact of constrained public investment.",
    "Reallocate resources freed by BBH completion toward productive public investments within existing budget constraints.",
    "**1mneea2022003**"
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