During the week when Montenegrin President Jakov Milatović returned tax laws to the Assembly for reconsideration, the Montenegro Stock Exchange (MNSE) experienced a slight rise in indices but a significant drop in trading volume.
The MNSE10 index, reflecting the top ten companies, increased by 0.8% to 1,006.9 points, while the MONEX index rose by 0.7% to 15,201.07 points. However, trading volume fell to €80,550, nearly a quarter of the previous week’s figure.
The most significant trading activity was in Montenegroberza shares, with 2.2% of its shares sold on Wednesday for €45,000. This sold portion is owned by the CD-OIF HLT fund. According to the Central Depository Agency (CDA), CD-OIF Atlas Mont holds 31.34% of Montenegroberza shares, the Istanbul Stock Exchange holds 24.4%, and CG Broker-Dealer holds 17.26%. The state owns 10.97%, Atlas Group holds 6.17%, and CG-Crnogorska Komercijalna Banka has 4.88%.
At the end of the week, Montenegroberza shares were priced at €600.
Among the stock movements, shares of Crnogorski Elektroprenosni Sistem increased by 4.5% to €1.39. Meanwhile, shares of Crnogorski Telekom and Zetatrans remained unchanged at €2.15 and €1.03, respectively. Montecargo shares fell by 13.3% to €0.26, Port of Adria decreased by 2% to €0.152, and Luka Bar dropped by 3.8% to €0.25.
Shares of PLC Morača, Ulcinjska Rivijera, and Plantaže traded at €5, €4.4, and €0.154, respectively. Željeznička Infrastruktura ended the week at €0.0162, UTIP Crna Gora at €0.30, and Izbor Bar at €0.0025.
President Jakov Milatović returned the VAT, excise duty, and social security contributions laws to the Assembly for reconsideration. He stated that these changes could lead to higher prices and negatively impact the competitiveness of the economy, especially the tourism sector and wine production. He emphasized the importance of protecting the people and the economy from additional financial burdens.
Finance Minister Novica Vuković reported that budget revenues for the first eight months of the year exceeded projections by €80 million, with total revenues of €1.82 billion and a budget surplus of €42 million. He assured that budget liquidity is complete, with all obligations met and a deposit level of €600 million.
Monteput announced a public call for the design of the Bar-Boljare highway project, specifically the Smokovac-Tološi section, approximately ten kilometers long. The project aims to improve Montenegro’s traffic infrastructure by alleviating city traffic through a planned bypass around Podgorica.
The Ministry of Transport revealed that five companies and three consortia showed interest in the prequalification for the main project and construction of the second section of the Bar-Boljare highway, from Mateševo to Andrijevica. The final construction cost will be known after selecting the most favorable offer. The contract for designing and constructing the Mateševo-Andrijevica section is expected to be concluded by the end of the year, leading to the start of the main project design and preparatory work.
