The decline in indices and turnover marked the week in which it was announced that September pensions in Montenegro will be increased by five percent, while the minimum amount will be around EUR 300.
The value indicator of the ten best companies MNSE10 slightly weakened to 1,002.58 points, and MONEX slightly to 14,834.14 points.
The turnover amounted to EUR 57.5 thousand and was 9.2 percent lower than last week.
Shares of Luka Bar fell by ten percent to 45 cents, Jugopetrol by 1.6 percent to EUR 12.2, and Budvanska Riviera Hotel Group slightly to EUR 7. The shares of Crnogorski Telekom grew, 2.9 percent to EUR 1.75.
Shares of Port of Kotor and Elektroprivreda were also traded on the Montenegro Stock Exchange this week, which cost EUR 8 and EUR 4.85 on Friday.
The Minister of Finance, Aleksandar Damjanović, commenting on the Government’s decision to increase pensions, said that it is about the need to eliminate inconsistencies in the application of parameters for harmonization.
“Given that the provision defined by the amendment to the Proposal for Amendments to the Law on Pension and Disability Insurance (PIO) has not entered into force, where the so-called four-month adjustment is foreseen, and taking into account that we now have quarterly data, we are constantly entering into a so-called a gap, that is, a quarter is skipped,” Damjanović said at the Government session.
He added that because of this, the inadequate formula defined by the Law on PIO provides data that is not realistic, which was the basis for the initiative of the PIO Fund.
In this way, the minimum pension will amount to almost EUR 300 and will be exactly two-thirds of the minimum wage, which is EUR 450.
The week was also marked by a new increase in fuel prices in Montenegro. The Association of Oil Companies of Montenegro (UNKCG) expects fuel prices to rise by the end of the year at a milder or stronger intensity, but they could not specify how much.
