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Žugić: Banking sector is stable

Radoje Žugić (Foto: CdM)

Banking sector is stable, public debt level still poses a great challenge, said the Governor of the Central Bank of Montenegro, Mr Radoje Žugić while presenting Central Bank of Montenegro Annual Report for 2018 in the meeting of the Committee on Economy. Commenting on the purchase of Societe Generale shares, Mr Žugić said that the transaction wouldn’t produce market monopoly.

Governor pointed out that the Central bank was committed to strengthening financial stability.

“Public debt level is still a challenge but consolidation measures are expected to produce a twist in 2020. Current public expenditure is being financed from the original revenues and that’s a favorable circumstance”, pointed out Mr Žugić.

Commenting on the third, “vulnerable” bank, Governor says that the bank’s solvency has soared to above 12%.

“We are carefully monitoring everything considered vulnerable. Previous experience won’t happen again”, said Mr Žugić.

 

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