"The main issue treated in this article is whether the privatisation process, as a result of a number of listed economic and social limitations, was able to contribute to the economic development of the country, the change and modernisation of the Montenegrin economic structure, employment growth and a better definition of its basic development profile and development priorities. It also seeks to look at to what extent privatisation was followed by overall transition and reform processes aiming at the creation of a modern market and an economy open towards the world. Answers to these questions are given in chronological order given the key period where, together with changes in privatisation methods, specific macroeconomic changes appeared concerning the functioning of the overall economic system. The subject is related to three basic periods (a) the period of self-governing socialism (1951-1989); (b) the beginning of privatisation and its macroeconomic effects within the period of sanctions and isolation (1990-2000); and (c) the macroeconomic effects related to the privatisation process within the period of substantial independence of Montenegro (2001-2007), to which is dedicated the largest part of this article. "

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