September 29 (SeeNews) - Montenegro's government plans to increase the minimum wage in 2022 to 450 euro ($528) from 250 euro, finance and social minister Milojko Spajic said.
"The average salary in the country will increase by about 17%. We will reach 700 euro of average net earnings by the end of next year," Spajic said in a video file posted on the YouTube channel of Montenegro's finance ministry on Tuesday.
The government plans to increase the tax on dividends and introduce a special tax on cash withdrawals for companies, Spajic also said, adding that entrepreneurs and micro companies will be entitled to tax cuts.
The increase of gross domestic product (GDP) in 2021 could exceed the government expectations and reach 13%, backed by tightened tax discipline and tax administration reforms, Spajic said.
Montenegro's tourism-dependent economy shrank 15.2% in 2020 as a consequence of the coronavirus crisis.
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