Data about the balance of payments in Montenegro is going to be more accurate after the Central Bank adopted the amendments to the decision on keeping special records of current and capital transactions by means of which companies are obliged to deliver directly data about construction, that is, investment services and trade credits to the Central Bank.
“This will result in – collection of data that hasn’t been collected so far and better time harmonization. The objective of the amendments to this decision is the introduction of another data source, i.e. implementation of the new way of collecting data about construction services and commercial (trade) credits directly from legal entities”, said the representatives of CB.
How such data will reflect on the statistics of the balance of payments and external debt?
“The new data source will improve the comprehensiveness and quality of the balance of payments statistics”, said the representatives of the CB.
Last year foreign investors from more than 60 states invested almost €328 million in Montenegro. Azerbaijan takes the first place, and is followed by Hungary and Russia. There was a €515 million outflow last year. Total foreign trade exchange in 2018 amounted €2,9 billion, import – €2,5 billion and export – €400 million only.
The new decision will result in more accurate data.
The records must include insurance activities with non-residents: revenues and expenditures of domestic companies generated from direct investments and securities.