Growth in turnover marked the week on the Montenegro Stock Exchange, News
Growth in turnover and both indices marked the week on the Montenegro Stock Exchange in which it was announced that the budget cash deficit last year amounted to EUR 249.1 million, or 4.4% of the estimated gross domestic product (GDP).
The value Indicator of the ten best companies MNSE10 strengthened by 0.9% to 1,039.17 points, as did MONEX to 14,580.49 points.
Turnover, realized through 68 transactions, amounted to EUR 220.29 thousand and was 8.3% higher than last week. The largest share of turnover was held by shares of Hipotekarna banka, which cost EUR 5.1. Shares of Montenegrin Electric Transmission System (CGES) rose 5.2% to one EUR, Jugopetrol slightly to EUR 12.6, Port of Adria 6.3% to 26.5 cents and Port of Bar slightly to 80 cents.
Shares of the Morač Business Logistics Center remained at last week’s level of EUR 4. Shares of Ulcinj Riviera, Citadel Group and Maintenance of Railway Rolling Stock were traded, which cost EUR 3.8, ie 50 cents and 28.8 cents. Shares of Railway Transportation ended the week at 33 cents, and Railway Infrastructure at 1.02 cents. Turnover in fund shares amounted to EUR 265, and only Trend was traded, which at the end of the week cost 5.3 cents.
The Ministry of Finance announced that budget revenues last year amounted to two billion EUR or 35.2% of the estimated GDP.
– Compared to the planned, realized revenues are 78.1 million or four percent higher, while compared to the comparative period of 2021 they are 97.7 million or 5.1% higher – the published data on the execution of the budget for the period January- December last year.
The week was also marked by the information that former employees of Željezara and representatives of Elektroprivreda (EPCG) began negotiations regarding the status of employees in that company from Nikšić.
The representative of the workers, Ivan Vujović, said that they clearly communicated their views and demanded that a competition be announced immediately, to which they are ready to apply, because, as he explained, they know that in those workplaces in Željezara, no one is better trained than them, who they worked there.
– Everyone said that they were getting into this story because of the workers, and now obviously the biggest problem is the workers themselves – Vujović said.
He said that everyone must understand that the workers have been protesting for nine months and that they, together with EPCG and the state, are the most deserving that the property of the Ironworks returned to state ownership.
Budvanska Riviera Hotel Group announced in the middle of the week that the valuation of its property is higher by EUR 55 million. They said that the Board of Directors, at the meeting on Monday, unanimously approved the Proposal for the analysis of the fair value of the company’s real estate, land and equipment as of January 2 last year.
– The effect of the analysis includes an estimate of the increase in the value of the assets of the Budva Riviera by around EUR 55 million. The previous net book value of the property from 2018 was EUR 134.24 million, while the new fair estimated value is as much as EUR 189.54 million – according to the company’s announcement.
The largest percentage of Increase refers to the increase in the value of land, in the absolute amount of about EUR 40.96 million, then construction facilities about EUR 12.91 million, installations about 450,000, equipment with vehicles 939,000 and intangible assets about EUR 31,000. At the beginning of the week, the Pension Disability Insurance Fund (PIO) announced that pensions will be increased by 2.5% from January. That percentage followed after Monstat announced an increase in earnings for the previous quarter, as well as consumer prices.
The Increased January pensions will be paid on February 20. This is the first adjustment of pensions this year, and the next ones will take place in May and September. In Montenegro, as of January 1, with the entry into force of the amendments to the Law on Pension and Disability Insurance, the minimum pension amounts to EUR 270.
Sign up for business news updates & special reports.
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- April 2, 2023 Montenegro’s joining to the Single Euro Payments Area, a final step towards last phase of integration into the EU
- April 2, 2023 Montenegro, Planes will fly from Podgorica to Kiev again
- April 2, 2023 Montenegro, New routes from Tivat and Podgorica airports this season