Vuković with IMF representatives: Montenegro wants to enter the EU economically ready

Montenegro is entering the final stages of its European path with stable public finances, accelerated economic growth and reforms that change the way public money is managed, it was announced at a meeting between the Minister of Finance, Novica Vuković, and representatives of the International Monetary Fund (IMF) for Europe.

Vuković met with the Director of the IMF's European Department, Mateusz Szczurek, his deputy, Helge Berger, the Head of the IMF Mission to Montenegro, Jeff Danforth, the IMF Regional Representative for the Western Balkans, Sebastian Sosa, and the Director of the South East Europe Regional Technical Assistance Center - SEETAC, Stefan Danninger.

"The fact that the Director of the IMF's European Department, together with the leadership of the Mission and the regional center, is in Podgorica today confirms the quality of the partnership between Montenegro and the IMF, but also the importance of the Montenegrin reform process for the European region," the Ministry said.

For Szczurek, this is his first meeting with a delegation from a country since taking up his new position.

Vuković assessed that Montenegro today has a strong foundation for continuing its European path.

"Montenegro is achieving stable macroeconomic results today. The economy is accelerating growth, revenues are above plan, the labor market is recording good results, and investments remain one of the key drivers of development. Our task is to turn this stability into long-term sustainable growth and European competitiveness," said Vuković.

The Montenegrin economy grew by 3,8 percent in the second quarter of this year, while cumulative growth in the first half of the year was 3,3 percent. At the same time, budget revenues for the first seven months were 8,7 percent higher than in the same period last year, while the deficit was 40,5 percent lower than planned.

"These results show that we can simultaneously maintain fiscal discipline and create space for development investments. This is a model that we want to maintain in the coming period," Vuković emphasized.

Szczurek expressed his satisfaction that his first official visit is to Montenegro, which is a long-standing and reliable partner of the IMF, and which has an ambitious European agenda and is currently achieving significant achievements.

A special focus of the talks was on reforms that are of direct importance for European integration.

The new Law on Budget and Fiscal Responsibility further strengthens fiscal rules and medium-term budget planning, while the Fiscal Council has been appointed and the process of its full operationalization has been initiated.

"For us, the European path is not just about harmonizing laws. The European path means building institutions that can plan, control and responsibly manage public money. We want Montenegro to enter the EU not only politically ready, but also economically ready," said Vuković.

He particularly emphasized the importance of IMF technical support in strengthening fiscal rules, public investment management, fiscal risks of state-owned enterprises, revenue policy, and public debt management.

"Our goal is not for the recommendations of international partners to remain in reports. We want to turn them into functional institutions, better quality decisions and sustainable public finances," said Vuković.

The interlocutors also discussed the role of the new SEETAC, which Montenegro sees as an important mechanism for knowledge transfer and support for reforms in the region.

"Montenegro wants to be an active partner, not just a beneficiary of international technical assistance. Our experience and reform capacities should be part of a joint European process in the region," said Vuković.

Speaking about the European perspective, Vuković emphasized that the goal remains clear - completion of negotiations by the end of this year and membership in the European Union in 2028.

"To achieve this, we must continue to turn European reforms into concrete results in institutions and the economy," said Vuković.

Vuković assessed that cooperation with the IMF is particularly valuable at this stage, because Montenegro is no longer just building the stability needed to overcome challenges, but also the institutions and economic policies that should be the basis for its functioning as a future EU member.

The meeting concluded with the assessment that Montenegro's continued cooperation with the IMF and SEETAC will be important for further strengthening fiscal resilience, the quality of public investments, and the implementation of reforms that support the country's accelerated European integration.