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Crna Gora
Црна Гора

Montenegro

Flag of Montenegro Coat of Arms of Montenegro
Anthem
Oj, svijetla majska zoro
Ој, свијетла мајска зоро
Map of Montenegro
CapitalPodgorica
Government Republic and parliamentary democracy
President
- From 2003Filip Vujanović
Prime minister
- From 2010Igor Lukšić
Legislature Parliament
History
June 3, 2006Declaration of Independence
Area13,812 km²
Population
- 2009666,730
 Density48.2/km²
GDP2009 (PPP)
- TotalUS$ 6.8 billion
- Per capitaUS$ 10,286
CurrencyEuro
Flag of Serbia and Montenegro Serbia and Montenegro
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Montenegro is a parliamentary democracy in the Balkans.


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.[1]

Economy

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. In 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. The European Council granted candidate country status to Montenegro at the December 2010 session. 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 has had a significant negative impact on the economy, due to the ongoing credit crunch, a decline in the real estate sector, and a fall in aluminum exports.[2]

President

  • Filip Vujanović () (May 22, 2003 - )


Prime minister

  • Igor Lukšić () (December 29, 2010 - )

Nation

Montenegrin Polities


Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview

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