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2015, vol. 4, iss. 7, pp. 36-47
Our economic reality
aFakultet za Turizam Univerziteta Mediteran, Podgorica, Crna Gora
bFirst Financial Bank Societe Generale Montenegro Banka AD., Podgorica, Crna Gora

emailmiroblecic@t-com.me, mvzizic@gmail.com
Keywords: ownership transformation/privatization; economic development; foreign trade deficit; strategic products; strategic development; public debt; employment; living standard
Abstract
National economy's transformation has been occurring from late eighties ('80-s) of the last century, and consisted in a series of not viable and, consequently, mostly negative phases. Its main feature is a turbulent, continuous decline in industrial production, which, slowly but surely, contributed to the instability of the economy's system which led to increase of public debt, imports dependence, foreign trade deficit, decrease of employment base, plummeting living standard and resulting in country's considerable development lag. Privatization expected positive effects have been fairly imperceptible and if it wasn't for rare exceptions, the whole process would have lost its economic and development meaning. Capital base from privatization was in majority spent on final consumption, which led to scarce working capital for further development. Inherited infrastructure which additionally was among worst within the former state union, influenced strong lack of infrastructural investment, which continues to limit development execution especially if tourism is preferred national economy's strategic development segment. Privatization and further restructuring of the economy were scarce in producing positive effects, mainly due to inner subjective reasons. Undertaking economic and systemic economic policy reforms should contribute to the available resources full and sustainable usage, in order to achieve economic revival.
References
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Ministarstvo Finansija Crne Gore (2013) Analiza održivosti javnog duga. www.gov.me/.../FileDownload.aspx?rId=125951...2
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Vlada C.G. (2014) Pretpristupni ekonomski program
 

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article language: Serbian
document type: Professional Paper
DOI: 10.5937/EkoIzavov1507036B
published in SCIndeks: 02/10/2017

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