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2 clusters · 5 sources · 7 days · First seen 8 days ago · Last updated 2 days ago

Montenegro fiscal reform and EU alignment

Overview

Montenegro is implementing fiscal reforms aimed at strengthening macroeconomic stability and aligning with European Union standards. The process began with the appointment of new members to the Independent Fiscal Council, which Finance Minister Novica Vuković stated is essential for fiscal discipline and the closure of Chapter 17 regarding the Economic and Monetary Union.

Building on these institutional developments, the government has proposed a new Law on Budget and Fiscal Responsibility. This legislative reform seeks to align fiscal policy with ESA 2010 standards and EU directives. The proposed law aims to improve transparency, refine deficit reduction plans, and strengthen the Fiscal Council's role. Additionally, the reform introduces stricter budgetary guidelines for local municipalities to ensure better management of public debt and capital projects, following recommendations from the IMF, the World Bank, and EU financial institutions.

Entities

European Union · Fiscal Council · Ministry of Finance · Independent Fiscal Council · Montenegro

Timeline

2 days ago

[POLITICS] 2 sources
Montenegro advances new budget and fiscal responsibility law
Montenegro is advancing a new Law on Budget and Fiscal Responsibility to align public finance management with EU standards and strengthen fiscal discipline across state and local government levels.
8 days ago

[POLITICS] 3 sources
Montenegro's Independent Fiscal Council Strengthens Finances and EU Prospects
Montenegro’s finance minister Novica Vuković praised the newly appointed Independent Fiscal Council, saying it strengthens fiscal discipline, supports EU accession and will receive full ministry backing.

Sources

bizniscg.me · dan.co.me · gov.me · portalanalitika.me · vijesti.me