Montenegro advances economic integration and EU alignment

Montenegro is advancing its economic integration with Europe through several key developments. One year after joining the Single Euro Payments Area (SEPA), the country has recorded over 237,000 transactions worth 4.2 billion euros, resulting in savings exceeding 9 million euros for citizens and businesses. Average transaction fees dropped significantly, with electronic payments seeing a 97 percent reduction in costs compared to previous SWIFT methods.

On the political and regulatory front, Montenegro was among the first Council of Europe members to sign a new protocol to the Warsaw Convention. This agreement strengthens the ability of authorities to seize assets acquired through criminal activity, including cryptocurrency. Additionally, the closing of EU Negotiation Chapter 17 marks a major step toward full integration into the European economic and monetary framework, emphasizing fiscal responsibility and the independence of the Central Bank of Montenegro.

In international forums, Prime Minister Milojko Spajić has emphasized the importance of accessing the EU single market to support small economies. Speaking at the World Economic Forum in Dubai, he highlighted that while financial support is vital, market access is the key to long-term growth. Meanwhile, the Development Bank of Montenegro reported injecting 175.3 million euros into the local economy over nine months to support various sectors, including tourism and agriculture.