Montenegro
Background:
The use of the name Montenegro began in the 15th century when the Crnojevic dynasty began to rule the Serbian principality of Zeta; over subsequent centuries Montenegro was able to maintain its independence from the Ottoman Empire. From the 16th to 19th centuries, Montenegro became a theocracy ruled by a series of bishop princes; in 1852, it was transformed into a secular principality. After World War I, Montenegro was absorbed by the Kingdom of Serbs, Croats, and Slovenes, which became the Kingdom of Yugoslavia in 1929; at the conclusion of World War II, it became a constituent republic of the Socialist Federal Republic of Yugoslavia. When the latter dissolved in 1992, Montenegro federated with Serbia, first as the Federal Republic of Yugoslavia and, after 2003, in a looser union of Serbia and Montenegro. In May 2006, Montenegro invoked its right under the Constitutional Charter of Serbia and Montenegro to hold a referendum on independence from the state union. The vote for severing ties with Serbia exceeded 55% - the threshold set by the EU - allowing Montenegro to formally declare its independence on 3 June 2006.
Geography:
Area: Montenegro (13,938 sq. km.) is slightly smaller than Connecticut.
Cities: Capital--Podgorica. Other cities--Bar, Berane, Bijelo Polje, Budva, Cetinje, Herceg Novi, Kotor, Niksic, Pljevlja, Tivat, Ulcinj..
People:
Nationality: Noun--Montenegrin(s); adjective--Montenegrin.
Population (2003 Republic census): 630,548.
Population growth rate (EU 2008 Progress Report): 3.0%.
Ethnic groups (2003 census): Montenegrin 43%, Serbian 31%, Bosniak 8%, Albanian 5%, Muslim 5%, Croatian 1%, Roma 0.5%.
Religions (2003 census): Orthodox 74%, Muslim 18%, Roman Catholic 4%.
Languages (2003 Census): Serbian 63.49%, Montenegrin 21.96%, Albanian 5.25%, Bosniak 3.2%, Bosnian 2.28%, Croatian 0.45 and Roma 0.4%. The October 2007 Constitution established Montenegrin as the official language, and decreed that Serbian, Bosniak, Albanian, and Croatian also may be used officially.
Health (2008 EU Progress Report): Infant mortality rate--7.4 deaths/1,000. (2007 data) Life expectancy--male 70.6 yrs., female 74.8 yrs (2006 data).
Economy:
Inflation rate (2007): 8.4%.
GDP (purchasing power parity): $7.16 billion (2008 est.)
GDP (official exchange rate): $4.515 billion (2008 est.)
GDP - real growth rate: 7.5% (2008 est.)
GDP - per capita (PPP): $10,600 (2008 est.)
Natural resources: Bauxite.
Tourism: 20% of GDP.
Industry: 13.8% of GDP.
Agriculture: 8.4% of GDP.
Services: 49.6% of GDP.
Trade (January – September 2008): Exports--$571.3 million (€388.5 million). Major markets-- Italy ($149.2 million; €101.5 million), Serbia ($124.1 million; €84.4 million),Greece ($75.8 million; €51.6 million) Slovenia( $50.3 million, €34.2 million); Kosovo ($39,2 million; €26.7 million). Imports--$2,179.6 billion (€1,481.9 billion). Major suppliers--Serbia ($873.8 million; €594.2 million), Italy ($174.5 million; €118.7 million), Bosnia and Herzegovina ($160 million, €108.8 million); Croatia ($157.2 million, €106.9 million), Slovenia ($154.8 million, €105.3 million).
Montenegro severed its economy from federal control and from Serbia during the MILOSEVIC era and maintained its own central bank, adopted the Deutchmark, then the euro - rather than the Yugoslav dinar - as official currency, collected customs tariffs, and managed its own budget. The dissolution of the loose political union between Serbia and Montenegro in 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction and Development. On 18 January 2007, Montenegro joined the World Bank and IMF. Montenegro is pursuing its own membership in the World Trade Organization and signed a Stabilization and Association agreement with the European Union in October 2007. On December 15, 2007, Montenegro submitted an EU membership application. Unemployment and regional disparities in development are key political and economic problems. Montenegro has privatized its large aluminum complex - the dominant industry - as well as most of its financial sector, and has begun to attract foreign direct investment in the tourism sector. The global financial crisis is likely to have a significant negative impact on the economy.
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NewsThe worldwide chain of McDonald's fast food restaurants plans to invest around US $1 bn into developing its franchises in Europe next year, the Reuters newswire reported. At the same time, they will pay greater attention to developing countries. "The potential for growth in Central and Eastern Europe is huge. We have only opened 350 restaurants in Ukraine, Poland and Romania, which have a combined population of more than 100 million and flourishing economies", says Executive Director Ralf Alvarez. There are 63 McDonald's restaurants in Ukraine in 19 cities. The total amount of investments since they began operating in Ukraine (since 1997) exceeded US $100 mn. McDonald's Ukraine has around 5,000 employees across the country. Reuters Sep 2008
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