Vuković: Good economic governance is a development priority and a key part of the country's European agenda

For Montenegro, good economic governance is not only a development priority, but also a key part of the country's European agenda, said Finance Minister Novica Vuković.

During the Annual Meeting of the European Bank for Reconstruction and Development (EBRD) in Riga, Vuković presented Montenegro's reform progress, its development priorities, and its ambition to become the next member of the European Union (EU) by 2028 to international financial leaders.

As announced by the Ministry of Finance, at one of the most important international financial gatherings dedicated to economic development, investments and reforms, which brings together finance ministers, central bank governors, representatives of international financial institutions and business leaders from more than 70 countries, Vuković presented the results that Montenegro is achieving in terms of fiscal stability, economic reforms and improving the investment environment.

Vuković, addressing the plenary session, emphasized that Montenegro greatly appreciates the long-standing partnership with the EBRD, which, through investments, expert support and reform dialogue, has made a significant contribution to the modernization of the Montenegrin economy, improving infrastructure and strengthening the institutional capacities of the state.

He welcomed the adoption of the EBRD's first Economic Governance Strategy, assessing that its priorities, such as strengthening institutions, improving the governance of public enterprises and developing a stronger private sector, represent confirmation of the correctness of the reform course that Montenegro is pursuing.

"It is particularly important that the focus is on the efficient implementation of reforms and the realization of concrete projects, because this is precisely what determines greater investments, stronger economic growth and a better standard of living for citizens," said Vuković.

He emphasized that for Montenegro, good economic governance is not only a development priority, but also a key part of the country's European agenda.

"The reforms we are implementing are simultaneously strengthening our economy and accelerating progress towards our strategic goal, EU membership by 2028. For us, European integration is not just a political process, but a framework for building stronger institutions, a more competitive economy and a better quality of life for our citizens," Vuković emphasized.

On the sidelines of the Annual Meeting, he held several bilateral meetings with top officials of the EBRD and international financial institutions.

Vuković met with Liliana de Sa Kirchknopf, Director of the EBRD Constituency Board consisting of Switzerland, Liechtenstein, Ukraine, Serbia, Uzbekistan, Montenegro and Turkmenistan, with whom he discussed cooperation priorities and further strengthening of Montenegro's position within the Constituency.

"As part of the Constituency meetings, the minister also spoke with Pietro Lazzeri, Deputy Governor of Switzerland at the EBRD, about current economic challenges, reform priorities, and opportunities for improving cooperation," the statement said.

It is stated that during the meetings with representatives of the OPEC Fund for International Development, possibilities for further cooperation and support for projects of importance for sustainable development, infrastructure investments and investment priorities of Montenegro were discussed.

It is added that participation in the EBRD Annual Meeting represented an opportunity for Montenegro to present the achieved results, reaffirm its commitment to reforms and further strengthen cooperation with international partners with the aim of sustainable economic development and successful completion of the EU accession process.

"With the support of partners like the EBRD, we are confident that we can achieve ambitious reform goals, attract new investments and build a modern, competitive, resilient and truly European Montenegro," concluded Vuković.