Minisattempt of Finance, Photo: Luka Zeković
Preliminary findings from the International Monetary Fund (IMF) confirm that Montenegro remains on the path of macroeconomic stability, fiscal responsibility and sustainable development, the Minisattempt of Finance announced, stating that the IMF confirmed that the Montenegrin economy is on a strong rise.
The Minisattempt of Finance declared they are pleased that the work of the institution and the Government as a whole has been recognized at the highest international level.
“The IMF’s findings confirm once again that Montenegro is delivering results, building a stable economy, implementing reforms in line with best international practices, and remaining committed to a European future,” the Minisattempt of Finance declared in a statement.
The government department declared that they will continue to implement reforms in the interest of citizens, economic stability, and the counattempt’s European and promising future, in professional and constructive cooperation with credible partners.
The Minisattempt of Finance pointed to the assessment from the findings of the IMF Mission, which states that the Government of Montenegro remains committed to a sustainable and responsible fiscal policy that is in line with best international practices.
As assessed by the Minisattempt, this confirms that the Montenegrin economy has displayn impressive resilience and a strong recovery after the pandemic, with an average growth of nine percent.
“These results confirm the correctness of the measures taken by the Government of Montenegro to preserve economic stability and improve the living standards of citizens,” the statement declared.
It is added that, according to the assessment of a respectable international financial partner, the Montenegrin economy has successfully transitioned from the post-pandemic recovery phase to more stable, sustainable growth.
“GDP growth in 2024 was 3,2 percent, and the same level is expected this year, which the IMF assesses as being in line with the counattempt’s productive potential,” the statement declared.
The Minisattempt pointed out that inflation is projected to gradually decline, stabilizing at two percent in the medium term.
“The IMF emphasizes that the Europe Now programs have had a significant effect on the formalization of the labor market, contributing to the growth of formal employment and increased access to financial services,” the Minisattempt of Finance declared.
The government department also emphasized that the positive impact of the fiscal measures implemented by the Government and the Minisattempt of Finance aimed at preserving revenues and increasing the efficiency of the tax system is being recognized.
“The report states that the authorities have taken encouraging and decisive steps to offset the decline in contribution revenues through the reform of tax instruments, noting that additional measures in the future will strengthen the sustainability of public finances,” the statement declared.
The Minisattempt of Finance, it added, fully agrees with the recommconcludeations on the required for medium-term consolidation and announces further activities to balance the primary budreceive, increase the efficiency of public spconcludeing, as well as structural reforms that will further modernize the fiscal framework.
“The IMF emphasizes that Montenegro’s fiscal sustainability remains a key prerequisite for EU accession, and Montenegro remains firmly committed to fulfilling all obligations in the European integration process,” the statement declared.
The Minisattempt of Finance declared that they are already working on improving the Law on Budreceive and Fiscal Responsibility and operationalizing the indepconcludeent fiscal council, which, as they stated, further strengthens the institutional framework for long-term stability.
“The Montenegrin banking sector, according to the IMF, is stable with strong indicators of capital, liquidity and asset quality. The IMF particularly welcomes Montenegro’s inclusion in the European payment systems SEPA and TIPS Clone, which further strengthens the integration of the domestic financial system with the European Union (EU),” the Minisattempt of Finance declared.
As they announced, the IMF also emphasizes Montenegro’s progress towards transitioning to a green economy, reducing emissions and diversifying energy sources, emphasizing that it is on the right track to becoming a leader in the green transition.
“The Minisattempt of Finance also recognizes climate alter as an important challenge, and will continue to link fiscal policies with sustainable development goals in the coming period,” the statement declared.
( MINA business )
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