Podgorica, (MINA) – Minister of Finance Novica Vukovic said that good economic governance is not only a development priority but also a key component of the Montenegro’s European agenda.

 

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

 

According to a press release from the Ministry of Finance, Vukovic outlined Montenegro’s achievements in fiscal stability, economic reforms and improving the investment climate at one of the most important international financial events dedicated to economic development, investment and reforms, which brings together finance ministers, central bank governors, representatives of international financial institutions and business leaders from more than 70 countries.

 

Addressing the plenary session, Vukovic said Montenegro highly values its long-standing partnership with the EBRD, which has made a significant contribution to the modernization of the country’s economy, infrastructure development and strengthening of institutional capacities through investments, expert support and policy dialogue.

 

He welcomed the adoption of the EBRD’s first Economic Governance Strategy, saying that its priorities, including stronger institutions, improved governance of state-owned enterprises and the development of a stronger private sector, confirm the soundness of the reform path pursued by Montenegro.

 

“It is particularly important that the focus is placed on the effective implementation of reforms and the delivery of concrete projects, because greater investment, stronger economic growth and a higher standard of living for citizens depend on these efforts,” Vukovic said.

 

On the sidelines of the Annual Meeting, Vukovic held a number of bilateral meetings with senior EBRD officials and representatives of international financial institutions.

 

He met with Liliana de Sa Kirchknopf, Director of the EBRD Constituency Board comprising Switzerland, Liechtenstein, Ukraine, Serbia, Uzbekistan, Montenegro and Turkmenistan, to discuss cooperation priorities and ways to further strengthen Montenegro’s position within the constituency.

 

As part of the Constituency meetings, Vukovic also spoke with Pietro Lazzeri, Switzerland’s Deputy Governor at the EBRD, about current economic challenges, reform priorities and opportunities to enhance cooperation.