Montenegro
Kassi Gojcaj
- Montenegro-
- Population:
- 0.6 million
- GDP (PPP):
- $7.4 billion
- 3.4% growth
- 0.1% 5-year compound annual growth
- $11,913 per capita
- Unemployment:
- 19.7%
- Inflation (CPI):
- 2.2%
- FDI Inflow:
- $447.4 million
The United States-
Population:
- 316.4 million
- GDP (PPP):
- $16.8 trillion
- 1.9% growth
- 1.2% 5-year compound annual growth
- $53,101 per capita
- Unemployment:
- 7.5%
- Inflation (CPI):
- 1.5%
- FDI Inflow:
- $187.5 billion
7 Major Sources of Economic Progress
legal system
From 1918 untill 2006 serbia and montengro were united uner the kingdom of yugoslavia, the socialist federal republic of yugoslavia and serbia of montengro.
Serbia and montenegro was a confederated union which existed between 2003 and 2006. The two republics initially formed the Federal Republic of Yugoslavia in 1992.
1. Rule of Law (legal system)
Although the government in Montenegro moves very fast in adopting new laws especially those necessary for the european union integration process their process of putting a decision or a plan into effect is weak. Montenegro is starting to use community practices such as changing tax legislation to european union standards. In 2009, Montenegro selected a government agent for the European Court of Human Rights, at which more than 869 cases related to Montenegro were still pending in 2012. On May 21st 2006 the majority of 55% voted in a referendum for Montenegro to become an independent country. Montenegro has successfully created laws which helped to achieve such significant improvements in the field of economics.
2. Competitive Market
3. Limits on government regulation
4. An Efficient Capital Market
5. Monetary Stability
european monetary stability is the system used in the EU for stabilizing exchange rates between the currencies of the member states participating in the exchange rate mechanism and the balance of payments support mechanism. the original ERM was formed in 1979 out dated in 1999 when the euro turned into the official currency of 11 EU member states