The tourism industry plays a crucial role in Montenegro’s economic growth and development. During the pandemic, tourism is considered one of the hardest-hit industries. Nonetheless, Montenegro has taken many steps to counter and mitigate the economic impact. The government has adopted new measures to ensure economic resilience. Below are some of them: Tax payments on earnings are delayed for 90 days. In theory, this should relieve businesses and households from further straining their finances. However, this may be postponing the inevitable and damaging defaults. The central bank announced a moratorium on loan repayments for a period of up to 90 days. These include the interim suspension of all payments on obligations based on the loan. Again, this should help individuals and businesses cope with the economic downfall. The government provided support packages, including subsidies of 70% of the minimum wage for employees in sectors that are closed due to the pandemic, those unable to work from childcare, or people self-isolating and quarantining. Additionally, a subsidy of 50% of the minimum wage is given for employees in sectors at risk from the lockdown.

[COVID-19]