• utorak, 22 jul 2025

Ministry of finance: Worth of credentials shall not exceed 10 million

Ministry of finance: Worth of credentials shall not exceed 10 million
State credentials would be emitted until December and the total worth in circulation would not exceed 10 million DEM, and every month they would be sold and the money returned after 28 days, said deputy minister of finance, Ratomir Jovicevic. Jovicevic said for Montena-business that on September 5 the first emission of credentials would start, worth 5 million DEM, which would be returned after 28 days. “In September, 5 million DEM would be emitted and when these 5 million are returned, the worth of credentials for October would be increased on 7 million DEM. It is the same amount of money, which is not higher than 10 million DEM and which would be distributed in different ways every month,” explained Jovicevic. He also said that in November 9 million DEM would be offered and in December the total of 10 million DEM. He said that the interest rate that would be given for purchase of state credentials was not defined yet, and it would be established in cooperation with USAID, which participated in the making of the Law on budget. “The interest rate would most probably be the one received in banks, but it cannot be stated yet how much it would be,” added Jovicevic. He expects that Montenegro would get the secondary market of credentials next year, which should be started by the Central Bank. At the beginning, no transactions with state credentials would be possible, but later on, those who buy them would be able to make transactions, so functioning of the market between those who own the credentials would be enabled.