URGENT UPDATE: New data from the Central Bank of Montenegro (CBCG) confirms that as of the end of February, 21,130 businesses are facing account blockades, totaling an alarming €1.63 billion in debts. This figure reflects a 1.12% decrease from January, but the overall debt amount has surged by 1.39% during the same period.
The concentration of debt is striking, with just the top 10 debtors, representing a mere 0.05% of all registered businesses, accounting for a staggering 37.78% of the total blocked amount. These entities have €615.76 million in frozen assets. Even more troubling, the top 50 debtors hold 56.25% of the overall debt, totaling €916.92 million.
In a distressing trend, 1,290 debtors have been in continuous blockade for up to a year, with their debts amounting to €36.26 million. Moreover, a significant majority—19,840 companies—have been in blockade for over a year, with debts aggregating to an eye-watering €1.59 billion.
This financial crisis highlights the urgent need for strategic interventions to stabilize the economy and support struggling businesses. The implications of these blockades are profound, impacting employment, commerce, and overall economic health in Montenegro.
As the situation develops, stakeholders are urged to monitor the actions of the CBCG and government officials, who may need to implement measures to alleviate this escalating crisis. Immediate attention to the plight of these businesses could prevent further economic deterioration and protect jobs across the region.
