The Ministry of Finance, in cooperation with the Organization for Economic Cooperation and Development (OECD), has officially begun the implementation of the project to introduce a new tool for spending analysis (Spending Reviews), aimed at improving fiscal discipline, transparency and efficiency of public finances.
The Ministry announced that the project represents a significant step towards modernizing budget practices in Montenegro, in line with international standards and OECD recommendations.
"The OECD concluded that the country would benefit significantly from the gradual introduction of this tool, and it was recommended to begin a pilot analysis in a sector with a high fiscal impact and good data availability," the statement said.
On this occasion, two-day working meetings were held between the expert team of the Ministry of Finance and OECD experts, during which the objectives and strategic framework of the project were discussed and a capacity workshop was held with a focus on international practices and planning of specific activities.
Addressing the participants, Minister of Finance Novica Vuković emphasized that they were opening a new chapter in the management of public money.
"Expenditure analysis is a key tool for optimizing public expenditures and strengthening fiscal sustainability. We expect that this project, through the support and expertise of the OECD, will contribute to building even stronger capacities for strategic management of public finances in Montenegro," said Vuković.
The working meetings concluded with the expectation that the project will result in reducing inefficient expenditures, improving budget planning, and strengthening institutional capacities in the area of public finance.
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